Innovation

💾 Agilysys, Inc., a global provider of hospitality software solutions, acquired the SaaS spa management company Book4Time, Inc., which serves the most Forbes 5-Star-rated spas. Book4Time operates in over 100 countries and is integrated with over 60 technology providers. The acquisition, closed for approximately $150 million USD, strengthens Agilysys' global presence and offerings. Agilysys CEO, Ramesh Srinivasan, anticipates leveraging both companies' strengths to accelerate hospitality technology innovation. Financial impacts will be discussed in the Agilysys fiscal 2025 second quarter earnings call in October 2024.

📢 Martin Soler, former hotel general manager turned fractional CMO and co-founder of 10minutes.news, shares insights on hotel tech on Aug. 21, 2024. Soler emphasizes the importance of prioritizing guest needs over fleeting tech trends, focusing on what won't change, such as the desire for connectivity, personalization, reduced wait times, and more services. This approach echoes Jeff Bezos' philosophy of distinguishing the essential from the transient in the hospitality industry.

📄 A Request for Proposal (RFP) is a key instrument for hotels to acquire services like Property Management Systems (PMS), functioning as both a document and a structured multi-step process for collecting and evaluating vendor information. It ensures a fair assessment by detailing the hotel's needs, comparing products, services, implementation, support, and pricing from different vendors. RFP formats vary, with text-style answers considered most informative for in-depth analysis. Standard RFP structure includes business details, functionality requirements, and future expectations. Supporting templates, such as an RFP Guide (PDF), Scorecard (Excel), and Template (Word) are available for download.

✈ Thai Airways, national carrier of Thailand, announced a multi-year partnership with RateGain on 21st August 2024. The collaboration aims to redefine pricing strategies for Thai Airways' network, which includes domestic and international routes through its Star Alliance membership. In Q1 2024, Thai Airways and its subsidiaries reported a revenue of 45,955 million baht, a 10.7% increase from the previous year. The fleet, consisting of 79 aircraft, is set to expand to 89 by 2025. RateGain, surpassing a 1 billion market cap, provides advanced pricing intelligence solutions, now integral to Thai Airways' competitive strategy.

📦 Grubhub expands Campus Dining to over 60 schools, reaching half a million new students and serving a total of 4.5 million. Partners with University of Alabama at Birmingham, University of Tampa, University of Missouri, Howard University, and Tulane University; now works with over 360 universities, a 21% increase. Collaborates with Cartken, Kiwibot, and Starship for robot deliveries on nearly a dozen more campuses, with over 20 campuses already utilizing robots for order delivery. Implements Amazon's Just Walk Out technology at Ursinus College, University of Virginia, and Lindenwood University, allowing purchases without traditional checkout. Introduces sustainable dining with Topanga.io's ReusePass at Virginia Tech and SUNY New Paltz, among others. Grubhub+ Student offers $0 delivery fees and other benefits to students at partnered schools.

🍴 Thompson Hospitality announced the creation of Thompson Restaurants division with plans to expand and launch a loyalty and gift card program in 2025. The Reston, Va.-based minority-owned company operates over 70 locations across 14 brands. The expansion targets the District of Columbia-Maryland-Virginia region, South Florida, and Columbus, Ohio. New openings include Milk & Honey, Makers Union, and Wiseguy Pizza, with Virginia Beach, Va. as a planned market. Alex Berentzen is appointed as COO of the restaurant division.

🏩 Hospitality industry faces a high turnover rate of 84.9%, nearly double the national average of 47.2%. A Gartner study found no correlation between L&D course completion scores and performance, attributed to lack of data savvy. Effective training programs require a data-focused approach, including establishing pre-training performance baselines, plans to assess training results, and goals for post-training performance. Continuous data collection and analysis optimize these programs through learner feedback, performance metrics, and predictive analytics for future needs. Key modern L&D program elements include micro-learning, multimedia, gamification, simulations, and multi-device delivery, aiming to enhance customer service, increase efficiency, and reduce turnover.

📱 Apple Wallet now allows guests to skip the lobby with room keys stored on their iPhone or Apple Watch. The feature includes Express Mode for access without waking the device, Power Reserve functionality allowing the room key to work for up to five hours if the device needs charging, and enhanced security with Find My app compatibility. Guests can also share their room keys securely, manage permissions, and revoke access as needed.

📌 In the hospitality industry, only 9% of hotel guests are likely to return. Martin Soler, a hospitality consultant with experience as a hotel general manager, emphasizes the importance of hyper-personalization to improve guest experience. A significant tech shift is expected in the hotel industry within the next 24 months, with the potential to enhance personalization at scale. Key challenges include integrating various technology systems and the limitation of property management systems (PMS) that focus more on rooms than on guest profiles. Solutions like customer data platforms and modern, cloud-based PMS are suggested for better data management and guest experience. Hospitality professionals should consider collecting relevant guest data now for future personalization capabilities.