Technology moves fast—no, make that really fast. Technology today analyzes higher volumes of data, outputs purer insights and offers up more opportunities than ever before.
An omnipresent IoT ecosystem finds new ways to connect personal devices with pretty much anything possible, not-so-subtlety encouraging those of us with a pulse to stay on the grid. Permanently.
Hotels, in particular, have woefully pined away for similar advancements in property technologies for enhanced guest services, enriched productivity and overall profitability.
But while we might be slowly climbing the proverbial hill of innovation in many ways, the contrast in revenue technology capabilities from 10 years ago to today is stark and compelling .
Machine-learning innovations coupled with high mobility, prescriptive analytics and transparent business intelligence have put hoteliers in a prime position to break down old barriers to new profits.
However, even with all the advancements to date, many hoteliers still rely on limited processes and technology—to the detriment of their productivity and bottom-line revenues.
Is revenue technology forcing your strategy to fall behind the times? Here are 5 signs your technology is holding you back:
#1. You’re still uploading your rates
With their day-to-day responsibilities, hoteliers often have limited time for strategy—especially if they’re manually managing rates.
Technology requiring manual maintenance and implementation of rate recommendations forces users to be less nimble to market shifts, limits time and resources, and hinders productivity.
Automated pricing and inventory decisions, on the other hand, continually optimize and automatically deploy to integrated selling systems. This gives time back in the day to focus where it’s needed—on strategic opportunties.
#2. You’re manually managing guestroom inventory
Hotels have managed inventory through manual controls for decades. However, compared to 10 years ago, most revenue technology providers haven’t improved these fixed controls at all.
