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eBooks: Hospitality Revenue Management and Hotel Property Management Systems

Starfleet Research ·25 January 2016
"Hospitality Revenue Management is fueled by the rapid growth of big data processing, advanced analytics, demand forecasting and pricing optimization models and next-generation technology platforms."To read The 2016 Smart Decison Guide to Hospitality Revenue Management, please click here."Ideally, a next-generation Property Management System should enable hoteliers to centrally manage, track, measure, analyze and optimize the constant flow of information across all parts of the organization in real-time."To read The 2015 Smart Decison Guide to Hotel Property Management Systems, please click here.Smart Decision Guides: Unbiased, comprehensive and insightfulSmart Decision Guides from Starfleet Research are the #1 resource for educating industry practitioners in selected niche markets. Our reports have been downloaded by decision makers at more than 35,000 companies around the world over the past 12 months. These Smart Decision Guides were independently produced, without editorial involvement from the company underwriters. Our approach to content production provides for unbiased, fact-based information. To learn more, please visit www.starfleetresearch.com.
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Time to Upgrade Your Revenue Management Capabilities? New Guide Offers a Roadmap for Success

Starfleet Research ·31 December 2015
Starfleet Research, the IT market research arm of Starfleet Media, today announced the release of The 2016 Smart Decision Guide to Hospitality Revenue Management. The guide is completely revised and updated from the 2015 edition, which was accessed not only by revenue management executives at hundreds of leading hotels, resorts and other lodging properties around the world but also by other hospitality executives planning to upgrade their revenue management capabilities.As with the previous edition, The 2016 Smart Decision Guide to Hospitality Revenue Management provides a detailed roadmap for achieving increased hotel occupancy, revenue and profitability by leveraging next-generation revenue management technologies and capabilities.The key takeaways include insights for understanding how the practice of revenue management is evolving with recent technology innovations. The guide provides frameworks for evaluating and selecting the right solution and/or services in the context of a hotel or resort's specific needs. It also offers practical advice, including perspectives from hotel executives, for putting the right organizational resources, business processes and performance metrics in place to help drive continuous performance improvement.The research is based on data collected from 137 qualified survey respondents across different geographies, different types of lodging properties and different levels of the organization. The content was independently produced, providing for unbiased, fact-based information. The underwriters of the new Smart Decision Guide include Duetto, IDeaS (a SAS company), Infor and Rainmaker, all of which also participated as underwriters of the previous edition.The 2016 Smart Decision Guide to Hospitality Revenue Management is now available for complimentary download. It can be accessed here.Starfleet Research recently released several custom eBooks on hotel technologies as well as other Smart Decision Guides that are also focused on hospitality industry topics. These include:The 2015 Smart Decision Guide to Hotel Property Management Systems, which can be accessed here.The 2015 Smart Decision Guide to Restaurant POS Systems, which can be accessed here.The 2015 Smart Decision Guide to Retail Management and POS Systems, which can be accessed here.About Smart Decision GuidesSmart Decision Guides serve as definitive resources and required reading for decision makers researching selected niche markets with the intention of making a purchase decision. The content is independently produced, without editorial involvement from company underwriters, providing for unbiased, fact-based information and buying recommendations. To access Smart Decision Guides and other valuable resources from Starfleet Research, please visit www.starfleetresearch.com.Media Contact: Alisha Levin Starfleet Media alisha.levin@starfleetmedia.com
Article by Jeff Zabin

2016: The Year to Upgrade Your Restaurant (and/or Retail) POS Systems?

Starfleet Research ·31 December 2015
and, ultimately, to reduce costs and increase revenues.The most obvious change in POS systems is the proliferation of tablets. New data security requirements along with a number of advances in features and functionality are also certainly factoring into the equation. These range from more robust data analysis and reporting capabilities to expanded payment processing options to handle the proliferation of chip-and-pin cards and e-wallet apps.Other key drivers include everything from CRM, marketing and customer loyalty program features to built-in inventory control and labor management capabilities. In short, there is no lack of compelling reasons for hoteliers to consider upgrading the technologies in use in their restaurant and retail operations.Of course, when it comes to any technology investment hoteliers generally have two primary objectives. The first is to streamline business operations with the goal of increasing employee productivity and overall efficiency, resulting in greater cost savings. The second objective is to improve the guest experience, leading to increased customer satisfaction, loyalty, brand advocacy (e.g., positive word-of-mouth, including favorable guest reviews on TripAdvisor and other social media review sites) - and, ultimately, increased growth and revenues.Can next-generation POS systems really help hoteliers achieve both these objectives with respect to their restaurant, bar and retail operations? The answer is a resounding "yes."Consider the efficiencies that are to be gained in table service restaurants when servers can place orders directly from a tablet to the kitchen printer or display monitor rather than from a stationary terminal that may be more than a few steps away and also bottlenecked by servers. Rather than waiting their turn to punch orders into a terminal, servers can spend that time interacting with guests and attending to other duties that would likely enhance the guest experience.Faster order placement and pay-at-table processing -- as well as more payment options -- can remove some of the most common barriers to guest satisfaction. This may be especially relevant in a poolside or beachfront setting where service expediency generally matters more than in a fine dining atmosphere. No hotel guest wants to wait longer than necessary for their strawberry daiquiri and French fries to arrive at their poolside table or for their bill to be processed so that they (and their family) can hurry back to their guest room or on to the next vacation activity.Importantly, pay-at-table capabilities can also enable a restaurant to turn tables considerably faster than before. And that can make a big difference in the amount of money coming through the door during the busiest times of the day.The business case for next-generation POS systems is easy to make, given the myriad of benefits. In most cases, return on investment can be measured in terms of cost reduction, which is largely a function of increased staff productivity, and greater profitability, which is largely a function of improved guest satisfaction and volume. Is 2016 the year to upgrade your hotel or resort's restaurant (and/or retail) POS capabilities?Note: This article is adapted from The 2015 Smart Decision Guide to Restaurant POS Systems as well as The 2015 Smart Decision Guide to Retail Management and POS Systems. Both guides are currently available from Starfleet Research for complimentary access.
Article by Jeff Zabin

Next-Generation Hotel Management Systems: Automation and the Cloud

Starfleet Research ·29 December 2015
in other words, the degree to which the PMS can automate different core functions and processes.For example: Can it automate the process of managing reservations and rates, checking guests in and out of the property, assigning rooms and managing room inventory, servicing guest requests and handling accounting and billing requirements? Can it automate housekeeping services, room service delivery and maintenance management? Can it automate routine tasks like deposits, cancellations, confirmations, wait listing and room blocking?Some prospective buyers may want to know about revenue management features -- whether the PMS can automate yield management processes, including setting and controlling room rates based on availability and anticipated demand.Most hoteliers will expect front desk features to include guest messages and wake-up call modules and back office functionality to include the ability to manage revenue transfers along with a host of analytic reporting tools. Most hoteliers will be interested in financial features related to cashiering (managing deposits, settlements, adjustments, etc.), accounts receivable (direct billing, invoicing, etc.), and night auditing procedures. Increasingly, hoteliers may expect the PMS to include features related to customer relationship management and sales and marketing (e.g., social media integration and loyalty and rewards systems).Traditionally, large, full-service hotels used locally-installed PMS. These systems require on-premise terminal and data servers as well as backup systems and in-house IT expertise. For some buyers, on-premise installation may have certain benefits compared to cloud-based deployment, including reduced concerns (whether justified or not) about data security. Some people maintain that these systems can provide more robust functionality when dealing with massive volumes of data.The main downside of on-premise installation lies in the fact that the lodging property is responsible for installing and maintaining the hardware and providing data security. While this may be of little concern to major brands with extensive resources and large IT operating budgets, it is certainly a consideration for mid-tier and smaller hotels. Cloud-based systems typically employ pay-per-use subscription models, which means that the cost can be treated as an operational expense rather than a capital expense. This is important if long-term technology commitment is a concern.As with most enterprise technology solutions, most systems are moving to the cloud, and even larger brands are benefiting from the global scale, the distributed access to interfaces and information, and the cost benefits that cloud deployment can provide, especially in support of growth in emerging markets. Importantly, cloud-based systems provide a common platform that is generally easy to implement and to which owners and franchisees can readily comply. Additional benefits include reduced stress on hotel technology infrastructures, and, in some cases, more seamless integration with other applications and modules.To download a complimentary copy of The 2015 Smart Decision Guide to Hotel Property Management Systems, please click here.
Article by Jeff Zabin

Hotel PMS: How to Measure ROI

Starfleet Research ·21 December 2015
for example, by increasing bookings via web booking engine integration, increasing occupancy rates through real-time inventory updates, and increasing average daily rates through integrated revenue management and advanced forecasting tools?Another key factor to consider pertains to reduction in losses, including losses related to errors in manual updates and mistakes in POS consolidations (guest purchases made across other parts of the property), as well as lower integration costs with third-party hardware and software.Finally, it's important to keep in mind that enhancing the quality of the overall guest experience through the deployment of a next-generation PMS should lead to a greater number of repeat guest stays as well as a higher volume and intensity of positive brand advocacy, including favorable guest reviews on TripAdvisor and other popular customer feedback sites. The correlation between favorable guest reviews and positive economic outcomes is obvious.Next-generation Property Management Systems tend to be significantly less expensive and require less up-front investment on the whole than their predecessors. There are many reasons for the shift to increased affordability, including the fact that installation is generally less complex and hardware is generally less expensive compared to, say, a decade ago.With some systems, the data is stored in the cloud, reducing (or even eliminating) the need for on-premise servers. Incidentally, most cloud-based systems also use a subscription "pay as you go" model, which generally means no long-term contracts and no upfront capital investment for the software. This may be an important consideration, especially for small hotels, motels and inns operating with a limited budget.In all cases, it is important to confirm which software features and modules, including future upgrades -- as well as which hardware components, if any -- are included in the base (recurring) price that is quoted so as to avoid any unpleasant surprises down the road.To download a complimentary copy of The 2015 Smart Decision Guide to Hotel Property Management Systems, please click here.
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eBook: The 2015 Smart Decision Guide to Hotel Property Management Systems

Starfleet Research ·14 December 2015
This comprehensive and unbiased eBook features research findings, analyst insights and expert recommendations for deploying a next-generation PMS to streamline operations, improve guest satisfaction and maximize RevPar. What key concepts should decision makers keep in mind as they look to upgrade the technology capabilities at their hotels, resorts, casinos and/or other lodging properties? What buying considerations should influence the purchase decision? How can they maximize the value of the investment to drive continuous performance improvement? The 2015 Smart Decision Guide to Hotel Property Management Systems addresses these and many other questions.To download the eBook, please click here.
Article by Jeff Zabin

Researching Hotel Property Management Systems? Consider These Recommendations

Starfleet Research ·10 December 2015
or another resource, if necessary -- is able to provide the requisite training support and that sufficient time is allotted for staff to become comfortable with the new system before being set loose on paying guests.To download a complimentary copy of The 2015 Smart Decision Guide to Hotel Property Management Systems, please click here.
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Excerpt: The 2015 Smart Decision Guide to Hotel Property Management Systems

Starfleet Research · 8 December 2015
e.g., favorable reviews on TripAdvisor and other popular sites -- ultimately translating into increased hotel occupancy rates and revenue per available room (RevPAR).Given the expanded technology capabilities, it's no wonder that hotels, resorts and other lodging properties have come to embrace next-generation PMS as a strategic imperative. Regardless of size and the volume of business, whether their property is a no-perks budget traveler operation or a luxury resort offering first-class accommodations and premier services, or whether it exists as an independent standalone property or part of an international chain, hoteliers can compete effectively only by automating their day-to-day operations across multiple departments and functions. Indeed, next-generation PMS has fast become a prerequisite for success in today's competitive environment.That said, the requirements and expectations on the part of prospective buyers can vary dramatically. Consider: A large, full-service hotel, resort or casino would likely require a far more robust and comprehensive system than would, say, a small hotel, motel or inn. The latter would need a system that could handle not just basic operational functions like guest bookings, housekeeping, guest charges and maintenance management, but also revenue management, advanced reporting, and features that support an extraordinarily high level of guest service. The system may need to integrate with online booking engines and manage hotel restaurants and cocktail lounges along with spas, banquet rooms, dry cleaning and other facilities as well as such guest amenities as bed turndown service, newspaper delivery, room service and transportation shuttles. A large full-service hotel would also naturally need to support more service requests as well as more complex reservation, scheduling and inventory needs than a limited-service property.Simply put, a next-generation PMS is designed to minimize costs and maximize revenue and profitability. The goal is to streamline day-to-day operations across the organization not only by providing better management controls but also by providing a deeper understanding of the unmet wants, needs and behaviors of guests. While the range of features and functionality may be broad, the overarching goals tend to be the same: to reduce costs through increased efficiency, generate business insights through better analytical reporting -- and, ultimately, to increase RevPAR and overall profitability.To read the eBook in its entirety, please click here.
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[White Paper] The 2015 Smart Decision Guide to Hospitality Revenue Management

Starfleet Research · 8 December 2015
This comprehensive and unbiased eBook explores the specific features and functionality of next-generation Hospitality Revenue Management solutions. These include advanced capabilities around pricing management, data processing and technology integration. It also explores such areas as demand forecasting and price optimization. The research is based on data collected from 119 qualified survey respondents across different geographies, different types of lodging properties and different levels of the organization. The content was independently produced, providing for unbiased, fact-based information.You can download the White Paper here.
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[White Paper] The 2015 Smart Decision Guide to Hotel Property Management Systems

Starfleet Research · 7 December 2015
This comprehensive and unbiased buyers' guide features analyst insights and expert recommendations for deploying a next-generation PMS to streamline operations, improve guest satisfaction and increase revenues. What key concepts should hoteliers keep in mind as they look to upgrade the technology capabilities at their hotels, resorts, casinos and/or other lodging properties? What buying considerations should influence the purchase decision? The 2015 Smart Decision Guide to Hotel Property Management Systems addresses these and many other questions, helping prospective buyers make the right choices.You can download the White Paper here.
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New Resources Offer Roadmaps to Success in Hotel Property Management and Hospitality Revenue Management

Starfleet Research ·13 October 2015
What key concepts should hoteliers keep in mind as they look to upgrade their technology and revenue management capabilities? What buying considerations should influence their purchase decisions? How can they be sure to maximize the value of their investments? How can they drive continuous performance improvement? Written by industry experts, with input from hundreds of hotel operators, two definitive resources address these and many other questions, helping decision makers make the right choices.The 2015 Smart Decision Guide to Hotel Property Management Systems is now available for complimentary download. It can be accessed here.The 2015 Smart Decision Guide to Hospitality Revenue Management is also now available for complimentary download. It can be accessed here.Smart Decision Guides rank as the #1 resource for educating decision makers in selected niche markets. Praised for their actionable insights and practical advice, eBooks from Starfleet Media have been downloaded by industry practitioners at more than 32,000 companies around the world over the past 12 months.
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The Scoop on Next-Generation Hotel Property Management Systems

Starfleet Research · 7 October 2015
e.g., favorable reviews on TripAdvisor and other popular sites -- ultimately translating into increased hotel occupancy rates and revenue per available room (RevPAR).Given the expanded technology capabilities, it's no wonder that hotels, resorts and other lodging properties have come to embrace next-generation PMS as a strategic imperative. Regardless of size and the volume of business, whether their property is a no-perks budget traveler operation or a luxury resort offering first-class accommodations and premier services, or whether it exists as an independent standalone property or part of an international chain, hoteliers can compete effectively only by automating their day-to-day operations across multiple departments and functions. Indeed, next-generation PMS has fast become a prerequisite for success in today's competitive environment.That said, the requirements and expectations on the part of prospective buyers can vary dramatically, according research conducted for The 2015 Smart Decision Guide to Hotel Property Management Systems. Consider: A large, full-service hotel, resort or casino would likely require a far more robust and comprehensive system than would, say, a small hotel, motel or inn. The latter would need a system that could handle not just basic operational functions like guest bookings, housekeeping, guest charges and maintenance management, but also revenue management, advanced reporting, and features that support an extraordinarily high level of guest service.The system may need to integrate with online booking engines and manage hotel restaurants and cocktail lounges along with spas, banquet rooms, dry cleaning and other facilities as well as such guest amenities as bed turndown service, newspaper delivery, room service and transportation shuttles. A large full-service hotel would also naturally need to support more service requests as well as more complex reservation, scheduling and inventory needs than a limited-service property.Simply put, a next-generation PMS is designed to minimize costs and maximize revenue and profitability. The goal is to streamline day-to-day operations across the organization not only by providing better management controls but also by providing a deeper understanding of the unmet wants, needs and behaviors of guests. While the range of features and functionality may be broad, the overarching goals tend to be the same: to reduce costs through increased efficiency, generate business insights through better analytical reporting -- and, ultimately, to increase RevPAR and overall profitability.
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Hotel Property Management Systems: Everything You Need to Know

Starfleet Research ·18 September 2015
Starfleet Media recently announced the release of The 2015 Smart Decision Guide to Hotel Property Management Systems. This comprehensive and unbiased buyers' guide features analyst insights and expert recommendations for deploying a next-generation PMS to streamline operations, improve guest satisfaction and increase revenues.What key concepts should hoteliers keep in mind as they look to upgrade the technology capabilities at their hotels, resorts, casinos and/or other lodging properties? What buying considerations should influence the purchase decision? How can they maximize the value of the investment once the PMS is deployed? The 2015 Smart Decision Guide to Hotel Property Management Systems addresses these and many other questions, helping prospective buyers make the right choices.Written by industry experts and based on data collected from 162 qualified survey respondents, the content was independently produced, providing for unbiased, fact-based information. The underwriters of this Smart Decision Guide include the following industry leaders: Agilysys, Hotelogix, Infor, MaestroPMS and RoomKeyPMS.The 2015 Smart Decision Guide to Hotel Property Management Systems is now available for complimentary download. It can be accessed here.Starfleet Media recently released two other Smart Decision Guides that may be of interest to hoteliers: The 2015 Smart Decision Guide to Hospitality Revenue Management, The 2015 Smart Decision Guide to Restaurant POS Systems and The 2015 Smart Decision Guide to Retail Management and POS Systems.About Smart Decision GuidesSmart Decision Guides serve as definitive resources and required reading for decision makers researching selected niche markets with the intention of making a purchase decision. The content is independently produced, without editorial involvement from company underwriters, providing for unbiased, fact-based information and buying recommendations. To learn more about Smart Decision Guides and Starfleet Media, please visit www.starfleetmedia.com.
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Buyer's Guide for Hotel Property Management Systems Offers Roadmap for Success

Starfleet Research ·13 August 2014
Starfleet Media today announced the release of The 2014 Smart Decision Guide to Hotel Property Management Systems. Featuring research data, analyst insights and recommendations for reducing costs while increasing occupancy, revenue per available room (RevPar) and overall profitability, this unbiased 35-page eBook is required reading for anyone managing a hotel, resort or other lodging property.The timing of the Smart Decision Guide couldn't be better, given the widespread confusion in today's marketplace. What are the key benefits of next-generation hotel software? What are the important buying considerations? What questions should be asked of solution providers? What evaluation criteria should influence the purchase decision? Having implemented the software, how can hotels maximize the value of their technology investment?Written by industry experts and steeped in survey-based research data, The 2014 Smart Decision Guide to Hotel Property Management Systems addresses these and many other questions, helping managers make the right software purchase decisions.The Smart Decision Guide explores the operational capabilities that most prospective buyers will expect of a Hotel Property Management System. These include managing reservations and rates, checking guests in and out of the property, assigning rooms and managing room inventory, servicing guest requests and handling accounting and billing requirements. It also explores advanced features such as revenue management and customer relationship management.The research is based on data collected from 112 survey respondents across different geographies, different types of lodging properties and different levels of the organization, all of whom identified themselves as buyers and/or users of Hotel Property Management Systems. The content was independently produced, providing for unbiased, fact-based information. The underwriters include the following industry leaders: Hotelogix, Infor, innRoad, ResortSuite and RoomKeyPMS.The 2014 Smart Decision Guide to Hotel Property Management Systems is now available for complementary download. It can be accessed here.About Smart Decision GuidesSmart Decision Guides serve as definitive resources and required reading for decision makers researching selected niche markets with the intention of making a purchase decision. The content is independently produced, without editorial involvement from company underwriters, providing for unbiased, fact-based information and buying recommendations. To learn more about Smart Decision Guides and Starfleet Media, please visit www.starfleetmedia.com.

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