Innovation

🚢 The cruise industry, serving tens of millions of passengers annually, faces a competitive environment, often undervaluing tickets to ensure full occupancy. Cruise lines have not maximized revenue due to slow adoption of advanced revenue management tools like those in airlines and hotels. Effective demand forecasting could increase profitability by optimizing cabin-category pricing and promotions. Advanced revenue management solutions using machine learning and artificial intelligence can automate data analysis and strategy implementation, reshaping cruise line profitability and efficiency.

📋 Open Pricing allows variable pricing for room types based on demand, evolving from the fixed-modifier Best Available Rate (BAR) strategy of the 1990s. It enables numerous price points on a demand curve independent of BAR, allowing rates like $185, $186, $187, or $216. This strategy maintains open and selling channels during peak periods. Key steps include collaboration across departments, revisiting discount policies, adjusting marketing messages, staff training, pricing by demand, considering guest lifetime value, and keeping channels open. Automating the Open Pricing process with systems like Duetto can significantly increase revenue and efficiency.

📃 Paris Airports executive emphasized the importance of guest experience, aiming to optimize customs wait times for international arrivals. Meanwhile, Amazon tests Rufus, an AI shopping assistant, suggesting a future where hotels could benefit from similar technology in OTA rankings, heavily influenced by guest reviews. Advertising has evolved, with AI and algorithmic-targeting becoming a new frontier, merging intent with inspiration and potentially distributing tourism more evenly worldwide. Summary: Paris Airports focus on optimizing customs processing time, Amazon's beta AI assistant Rufus may hint at future OTA hotel rankings' reliance on guest reviews. Advertising sees AI as the next revolution, blending intent with inspiration for better-targeted campaigns.

📖 Saladplate, part of Informa Markets, serves as the content and engagement hub for the Hospitality, Food and Beverage industry. It offers weekly news updates, a monthly newsletter, and a bi-monthly e-magazine. The platform features over 10,000 brands, companies, and products, and provides updates and registration for more than 35 international trade events.

📖 Saladplate is the official hub for Hospitality, Food and Beverage content, part of Informa Markets. It features weekly news updates, a monthly newsletter, and a bi-monthly e-magazine. The platform offers exclusive access to over 10,000 brands and companies, a comprehensive supplier directory, and updates from over 35 international trade events.

🏨 In the hospitality industry, hoteliers face over 33 million Google search results for "PMS" (Property Management Systems), with sites like HotelTechReport listing 273 providers and LinkedIn featuring over 1,000 options. The abundance of choices can cause indecision and confusion. Implementation times for PMS can be misleading, with some providers promising a one-day setup, but issues often arise months later. Complex environments, like hotels with multiple departments, require more extensive training and setup time. Integration quality of PMS APIs is essential, especially for accurate pricing and operational decisions. Accounting issues with new PMS often surface during monthly audits or fiscal year-end, leading to financial discrepancies and compliance risks. Inadequate PMS reporting affects decision-making and strategic planning. Larger properties face additional challenges with complex revenue streams and the integration of additional systems. Consultants might have conflicts of interest or lack understanding of the hotel's specific needs. Involving staff from different departments in the PMS selection process is crucial. PMS implementation failures can provide insights for future decisions. The true cost of PMS ownership can escalate with additional features, integrations, maintenance, and upgrade fees.

🏨 Oliver Hospitality, founded in 2009, launched the "Invited by Oliver" loyalty program and achieved 9,200 signups in three months. The brand operates properties in the Southeast and California, focusing on personalized experiences for guests. The tech for the program was developed with Amadeus, complementing existing tools and managed in-house for customer engagement. Success metrics include new member signups and booking actualization rates, aiming for all guests to become members. The program integrates with Infor HMS PMS for front desk efficiency. Key advice: involve all departments early and allow plenty of time for implementation.

📍 Obvlo reduces content creation time from two weeks to just 60 minutes with AI tools. Personalized local guides enhance guest experience, driving higher revenues and loyalty. AI technology updates 5-10% of dynamic content daily, ensuring accuracy and relevance. Obvlo targets over 100 guest archetypes, factors in weather, and promotes local businesses for authentic experiences. Hotels gain actionable insights through Google Analytics integration, aiding in remarketing and personalized offers. Obvlo's CEO, Callum McPherson, emphasizes the commitment to up-to-date, high-quality content.