Innovation

👨‍💻 Attribute-Based Selling (ABS) is revolutionizing the hospitality industry by personalizing guest rooms selection and enhancing revenue. Hotels are integrating ABS into cloud-based property management systems for real-time availability and seamless guest experiences. Dynamic pricing is vital for ABS success, adjusting rates based on demand and customer behavior. Hoteliers must evaluate attributes individually for profitability and avoid overwhelming guests with excessive choices. Simplifying booking processes, listening to feedback, and using technology to analyze guest preferences are key. With continuous refinement, ABS can significantly contribute to hotel revenue and guest satisfaction.

💾 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.

✈ 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.

📌 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.

🍔 VP of Operations Patric Knapp discusses Bobby’s Burgers’ Charlotte flagship, part of an 8-store chain with Chicago, Colorado, and Utah franchises opening later in 2023. The Charlotte kitchen's efficiency is boosted by a Garland clamshell grill, reducing burger cooking time from 7-10 minutes to 2.5-3.5 minutes. IoT integration with the Toast POS system enhances performance tracking and service speed for the fast-casual brand, offering made-to-order burgers at two temperatures.

💻 Francisco Pérez-Lozao, President of Hospitality at Amadeus, underscores a shift in the hospitality industry as technology partners become collaborative allies with hotels. The goal is to co-create innovative solutions enhancing guest satisfaction. He advocates for cloud-based solutions, emphasizing the need for a consistent data architecture to leverage new technologies and avoid revenue loss. Digital merchandising is highlighted as a means for hoteliers to upsell and differentiate their brands. Pérez-Lozao points to IHG's cloud strategy, with six synchronized inventory instances, as a model for high availability and fast response times, essential for competing with giants like Amazon and Google. Transitioning to a cloud-native design is seen as a 10-year journey that could increase revenue by at least 5%.