Innovation

📢 97% of visitors leave a website without booking, risking revenue loss to OTAs and competitors. Retargeting ads help re-engage high-intent travelers, encouraging direct bookings. Click-through rates (CTRs) for retargeting ads are 10x higher than regular display ads. Cloudbeds' Digital Marketing Suite simplifies retargeting for hoteliers with AI-enhanced ads, budget control, and performance tracking, aiming to decrease OTA reliance and increase direct bookings.

💳 A Boston Consulting Group survey reveals that 80% of consumers expect personalized experiences. AI enhances hospitality and dining by automating services, providing personalized recommendations, and predicting staffing needs. Hotels use AI for guest journey customization and real-time data analysis for operations, while restaurants employ AI for optimizing labor, inventory, yield, and menu recommendations. Consumers crave control and personalization, leading to self-service options in dining and tailored loyalty programs in hospitality that offer unique perks and discounts. AI gathers data to deliver personalized experiences, like anniversary suite suggestions or allergy-safe menu items, and anticipates needs such as late check-outs for delayed flights. AI supports staff efficiency, not replacement, ensuring personalized guest connections.

📖 Saladplate, part of Informa Markets, serves as the official content hub for the Hospitality, Food and Beverage industry, offering weekly news, a monthly newsletter, and a bi-monthly e-magazine. It hosts over 10,000 brands and provides updates from over 35 international trade events.

📝 The Shiji Group offers hospitality industry insights via email. Subscribers never miss an article as they are alerted when new content is published. No specific dates, locations, numbers, or statistical data are provided in the text to be summarized.

🥝 Saladplate, part of Informa Markets, serves as a hub for the Hospitality, Food and Beverage industry, offering insights, news, and trends. The platform features weekly news updates, a monthly newsletter, and a bi-monthly e-magazine. It grants exclusive access to over 10,000 brands and companies, as well as registration and updates for over 35 international trade events.

💾 Vivatel Kuala Lumpur, integrated with STAAH's technology, has streamlined operations, resulting in an 8% increase in website bookings and a significant 23% rise in online revenue. The hotel benefits from STAAH's dynamic pricing, analytics, and social media integration, enhancing marketing strategies and direct revenue share. The efficient tech upgrade at Vivatel has led to improved revenue management and customer service experience.

🏨 SuiteOp, a Guest Operations Platform, secured $3 million in seed funding to expedite development, enhance automation tools, and pursue market expansion. The funding round, led by ScOp with contributions from Dream Capital and strategic angel investors, marks SuiteOp's first external financing. Co-founded by Jean-Emmanuel Losi and Simon Seroussi, SuiteOp was born from the operational challenges of Sosuite, a short-term rental brand in Philadelphia. The platform, addressing labor shortages and fragmented software, now serves various lodging businesses. It offers IoT, smart automation, white-labeled guest portals, and analytics, supporting tens of thousands of units with a fivefold annual run rate increase and a consistent 15% month-over-month growth without customer churn. The new capital aims to enhance automation for efficiency in high-cost, labor-constrained environments and to expand into key markets. SuiteOp was founded in 2023 and enhances property management through a comprehensive, integrated platform.

🏨 A report by Accenture reveals airlines could boost annual revenues by 3-6% by adopting new distribution models, potentially unlocking billions in revenue. Insights from over 300 airline executives and 3,000 travelers indicate a disconnect between traveler expectations and airline offerings. Slow adoption of New Distribution Capability (NDC) since 2012 leads to missed revenue and customer retention opportunities. Airlines are losing $14 billion in untapped revenue; 71% of travelers prefer OTAs for ease and deals. Technological and skill constraints hinder progress, with 32% of airline executives blaming outdated tech and 29% a lack of workforce skills. Only 1% see leadership mindset as a barrier.

📈 Travel Technology Initiative (TTI) held an event last month in London to discuss AI use in the travel industry. Google's Lalit Gupta showcased Generative AI applications, emphasizing a shift from query-driven to multi-modal searches. Trip.com's European GM, Andy Washington, discussed personalization of trip recommendations through AI. Autoura CEO Alex Bainbridge highlighted the importance of AI in itinerary planning. Worldpay, which sponsored the event, presented on eCommerce fraud prevention with AI. The day also included a live coding tutorial.