TOP NEWS

📖 A Glion Master’s student in Hospitality, Entrepreneurship and Innovation, Chikita Giovany Tanati, visited Marrakech, Morocco for a five-day field trip, staying at a luxury 5-star palace and White Camel, a luxury desert camp. The trip included visits to Royal Mansour, Hotel El Fenn, Farasha Farmhouse, and the Amal Training Center. Tanati's experience was enlightening, linking academic studies to real-world business practices, and she plans to apply these insights to empower women in Papua's tourism industry after graduation.

📊 ARLINGTON, Virginia—The Hospitality Group and Business Performance Index, presented by Knowland and Amadeus for Q2 2024, recorded an overall health of 105.5% YOY, surpassing 100% for the first time. Top U.S. markets like Las Vegas (117.9%), Seattle (117.6%), and Nashville (114.2%) led the performance. Group segment growth continued for seven consecutive quarters, with Las Vegas achieving 125.7%. The Group Index reached 108%, while the GDS Index hit 112%. The Negotiated Index stood at 102%, with an 18/25 market score. Event volume remained steady with an average attendee size of 145 guests, and the average ADR for top 25 markets was $229/night compared to $185/night for others. Overall, business segments are normalizing, as reflected by the index increase from 99.9% in Q1 to 105.5% in Q2 2024.

📊 PMS reports are critical for hotel operations but have limitations for strategic decision-making. They miss broader trends and guest review data, which is vital in the digital landscape. Manual reporting, with its labor hours, error risks, and decision delays, incurs hidden costs. Tech-savvy GMs can access real-time data, use advanced analytics, and automate to enhance revenue and guest satisfaction. Practical steps for GMs include learning the basics, collaborating with experts, piloting new technologies, and seeking continuous improvement for long-term benefits like sustainable revenue growth, enhanced guest experiences, and efficient operations. Embracing technology is not just efficient but also a strategic imperative for success in the digital age.

🏖️ On Aug 15, 2024, AI-powered chatbots are streamlining the booking process in travel, handling flights, accommodations, payments, and baggage tracking. Personalization is key; platforms like Google Travel and TripAdvisor use machine learning to customize itineraries. AI also predicts flight prices with tools like Hopper. Operational efficiency and sustainability are improved, with initiatives like Google's DeepMind optimizing flight paths to reduce aviation-related emissions. Read more at Forbes.

📆 Hoteliers preparing for high season can register for a webinar on August 27 at 10am CDT aimed at maximizing occupancy rates. The webinar by RevOptimum and SiteMinder discusses U.S. high season trends, common challenges like demand fluctuation and guest expectations, and strategies for success. It targets hotel owners, managers, and revenue management professionals. RevOptimum offers personalized revenue management services and strategies to increase hotel RevPAR.

🏨 Atlas Hotels, a hospitality leader in the UK, operates 58 properties. Craig Couper, the company's Product Operations Manager, detailed post-COVID updates in a Shiji Insights interview. Changes include refreshed bar offerings, updated draught beer suppliers, and standardized drinks menus, aiming for premiumization and unique guest experiences. They leverage cloud-based technology for performance monitoring and manage promotions, ensuring consistent estate management and staff training integration. For more, visit [Shiji Insights](https://lnkd.in/eeYu-ieg). #shiji #atlashotels #shijiinsights #hospitalitytechnology

🏨 Expedia's study reveals 74% of U.S. travelers prefer experiences over things. Soneva Resorts' "Barefoot Luxury" in the Maldives boasts repeat bookings due to its unique offerings. The Wynn Las Vegas integrates Amazon's Alexa for enhanced guest experiences. Booking.com's 2024 report finds 83% of travelers consider sustainable travel important. Hotels are adopting FOMO-inducing strategies, such as transformative experiences, social media content seeding, technology integration, direct booking incentives, sustainability, and secure data practices to stay competitive and build loyalty.

🏡 Lisa Haude of LKI Architecture emphasized the importance of eco-friendly manufacturing with recycled materials in hotel design, citing advancements like AI and 3D printing to reduce waste. Robert Carl from Remington Hospitality reported an 8-9% annual savings on utilities from low-temperature washing changes, highlighting cost benefits of sustainable products. The vetting process for suppliers is crucial for product dependability and longevity, with certifications such as Certified Carbon Neutral being important. Hoteliers leverage resources like the Green Hotel Association and EPA for guidance. Ben Rafter, CEO of Springboard Hospitality, advocates for local sourcing to support ESG goals and guest engagement, despite higher costs and challenges in obtaining sufficient quantities from local suppliers. Springboard partners with Procure Impact to connect with social enterprises, aiding in their goal of creating 5,000 hours of work for vulnerable communities.

💾 51% of worldwide hotel rooms, or 15 million, use revenue management technology. Hotel Tech Benchmark dashboard estimates that 53% of large chains, 46% of mid-size chains, and 56% of independents see rate parity management as a major manual task. G3 RMS aids in demand forecasting, automation, and strategic decision-making. Among hotel investors using revenue management tech, 25% reported a net operating income increase of over 10%.

🏨 In the hospitality industry, Level 1 Basic Data Utilization has a profit increase of 0% and estimated costs of $1,000-$20,000 annually. Level 2 Intermediate Automation and Integration predicts a profit increase of 10-20% with costs ranging from $20,000-$150,000 annually. Level 3 Advanced Data-Driven Strategies can lead to a profit increase of 30-100% with an estimated annual cost of $150,000-$750,000+. Approximately 70-80% of hotels are at Level 1, 15-25% at Level 2, and less than 5% have reached Level 3. Transitioning through these levels involves assessing needs, implementing phased changes, focusing on ROI, and providing training and support.