Innovation

📈 Hotels are shifting from room rate focus to total profitability. The guide "From Revenue Manager to Commercial Strategist" emphasizes strategic planning over tactical pricing. 76% of revenue managers' tasks are non-revenue generating. AI and BI systems are freeing this time, allowing strategy focus. By 2025, profitability is about total guest contribution, not just room revenue. Nicole Young of Rosewood Hotel Group highlights revenue optimization as key for new trends in hospitality.

📈 In its third year, a cross-sectional study, led by Jeremy Korst, Stefano Puntoni, and Prasanna (Sonny) Tambe, tracks Gen AI's transition to enterprise adoption. The study identifies common use cases and emerging returns, providing benchmarks for executives. The focus is on integrating AI into budgets, processes, and training to achieve sustainable ROI. This research, linked to Wharton Human-AI Research, highlights people and process levers essential for mainstream AI implementation.

💬 Founded in 1930, Corby of Windsor has been enhancing the hotel guest experience for over 90 years. Known for the iconic Corby trouser press, their products are now in over 60 countries, including garment care, welcome trays, and minibars. Emphasizing sustainability, Corby offers innovations like battery-free scales and recycling bins. All electrical items feature a four-year guarantee. The brand continues to focus on comfort, convenience, and eco-friendly practices while working towards a Net Zero plan.

🚀 Software development is being revolutionized by AI coding tools, accelerating development by 10x, reversing traditional roles. Typically, design teams led with mockups while engineering lagged. Designers averaged a 1:20 ratio to developers. Now, AI tools like Augment Code enable engineers to swiftly create features, necessitating designers to refine UX post-coding. This shift, seen across several companies, promotes rapid iteration and real-time learning, evolving the process from "design to build" to "prototype to productize.

🏖 European Camping Group (ECG), a leader in outdoor hospitality, has rebranded to ECG with a new brand architecture to enhance market presence and clarity. This strategic reorganisation targets the 2026 season.

🏃️ The NYC Marathon drew 50,000 runners from 140+ countries. Bain & Company reports 74% of luxury consumers now value emotional wellbeing over product ownership. 80% of high-net-worth individuals prioritize experiences like travel, art, and wellbeing. McKinsey noted a 60% rise in consumer engagement with luxury content since 2020, with emotional satisfaction halved. A Deloitte study found 68% of senior leaders monitor biometric indicators daily, as wellness tools enter corporate wellness programs at Google, Microsoft, and Deloitte.

💸 Hotels are leveraging revenue management technology to enhance resilience by improving operational efficiency, unifying commercial teams, and promoting sustainability. This technology streamlines workflows, automates tasks, and consolidates data, enabling faster decision-making and market responsiveness. Hotels use it to align staffing and resources with demand, reducing waste and supporting sustainability goals. By optimizing pricing, they maximize revenue and maintain financial flexibility for future sustainability initiatives. The strategic use of technology is vital for adapting to changes and achieving long-term growth.

💸 HotelRunner launched the Ruby software, an autonomous finance infrastructure for travel, reshaping global travel commerce. Ruby provides real-time financial transaction management between travel agencies and hotels. Aimed at eliminating inefficiencies, it enables instant payments across borders, such as from Germany to Thailand. With over 10,000 partners in Europe, the Middle East, and Asia, and a partnership with Visa, Ruby is projected to handle over $4 billion in transactions annually, bolstering tourism growth.