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Cloudbeds

53 posts
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  • 7 min

From guesswork to predictive power: The evolution of hotel demand forecasting

📈 Hotel revenue managers adjust room rates to boost occupancy and sales by forecasting demand trends. Traditional forecasting models relying solely on historical data are inadequate due to constantly changing demand factors. Modern forecasting techniques, including causal AI and machine learning, are crucial for proactive adjustments, as demonstrated by other industries like airlines and online retailers. Cloudbeds Intelligence, set to release in 2025, will incorporate causal AI to optimize hotel revenue management, outperforming traditional models in occupancy and RevPAR (revenue per available room).
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Cloudbeds ranked among North America’s fastest-growing companies on the 2024 Deloitte Technology Fast 500™

🏦 Cloudbeds, a hospitality management software platform based in San Diego, CA, has been named in Deloitte Technology Fast 500™, ranking amidst the fastest-growing companies in North America. Achieving 473% revenue growth over three years, Cloudbeds credits technological innovation for its success. CEO Adam Harris highlights the team's commitment to redefining property management systems. Eligibility for the Fast 500 requires a minimum $50,000 base-year revenue and $5 million current-year revenue, with at least four years in business.
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Contactless guest experience: How integrated technology makes it possible

🛌 A 2022 Statista survey revealed 50% of respondents desire permanent adoption of contactless hotel services. Sweet Accommodations, using Cloudbeds, increased upsells and repeat customers by 20%, dedicating 16 extra hours weekly to guest experience enhancement. Contactless technology includes online check-in, AI communication, and digital keys, with chatbots potentially boosting booking rates by 30% and upsells by 55%.
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  • 2 min

Inn-Flow Announces PMS Integration with Cloudbeds

🏨 On October 28, 2024, in Cary, NC, Inn-Flow announced a new live integration with Cloudbeds' Property Management System, aiming to streamline hotel operations and financial management. This API-driven integration ensures real-time synchronization of operational and financial data, including room statistics, revenue, and payments. Inn-Flow, founded in 2009, provides comprehensive back-office management for hoteliers, while Cloudbeds, established in 2012, serves properties in over 150 countries and was recognized in Deloitte’s Technology Fast 500 in 2023. The collaboration promises automated data flow, deposit matching, transaction segmentation, and enhanced reporting for improved decision-making in hospitality management.
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  • 6 min

Causal AI in hospitality: Improving decision-making for hotels

🤔 Causal AI, an AI branch, uncovers true cause-and-effect relationships by analyzing billions of data points for real-time decision-making. It surpasses correlation-based AI, which only predicts using historical data. Causal AI is used across various industries: in healthcare for personalized treatments, in finance for risk management, in agriculture for optimizing farming practices, in manufacturing for finding breakdown causes, and in eCommerce for targeted marketing. Highlighted benefits include understanding real causes, predicting future scenarios, and determining necessary conditions for desired outcomes. Hospitality is starting to adopt causal AI for demand optimization, targeted marketing, and predictive maintenance.
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What is a hotel POS system? Features & 11 leading providers

💳 Jennifer Barnwell, President at Curator Hotel & Resort Collection, discusses hotel POS system evolution and what to expect in 2024. Global POS software market projected to hit $19.56 billion by 2028. Hotels leverage POS for seamless guest transactions at multiple points of sale, including restaurants, bars, room service, and tours. POS systems manage inventory, improve billing, and enhance data security. They can be legacy-based or cloud-based and may include mobile POS options. Leading hotel POS systems include Cloudbeds, GlowPOS, and Toast. Cloudbeds integrates with various POS systems, centralizing transactions in Cloudbeds' PMS for real-time data sync and efficient checkout experiences.
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  • 9 min

Advanced distribution strategies for hotels

🏨 Hoteliers can enhance revenue by optimizing their hotel distribution strategy using direct and indirect channels, retargeting ads, AI chatbots, and integrated payment systems. Key KPIs to track include occupancy rate, RevPAR, booking volume, acquisition cost, and guest satisfaction. Direct bookings are prioritized to avoid commissions and maintain guest data, while indirect channels like OTAs and DMOs provide a steady booking stream. Technologies like PMS, CRM, and RMS play crucial roles in managing and analyzing distribution effectiveness. Cloudbeds Intelligence, launching in 2025, will utilize AI to further aid in optimizing hotel revenue and profitability.
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