As another year comes to an end, it’s important to take stock of the year that’s been and what’s yet to come. The hospitality industry is an extremely rapid paced one. Concepts that were never-heard-of-before are trending today. Viral Shah, Co-founder & CEO of InnkeyPMS, a hospitality technology solution provider presents a notice of the key trends that are going to rule the roost in hospitality in 2018.
Technology has become critical to attracting and retaining hotel guests. With rising expectations, surprise and delight has been replaced by expected and assumed.
Mobile solutions in particular will dominate the list of capital investments this year. The top new rollouts have a mobile component, ranging from mobile keys, to mobile payments, to location-based technology, Reservations must be easily made via any smart device, Also high on to-do lists are improving data accessibility and security.
The good news is that advancements in technology, cloud computing and more scalable third-party API integrations with PMS and CRM has made operations management softwares relatively affordable, so smaller independent hotels will finally be able to benefit from real-time tools that will help to improve guest satisfaction and facilitate teams.
2018 will be an action-packed year for revenue management too. Revenue Management has developed quickly and established itself as a dominant force in driving hotel revenue and success, but 2018 could be its most evolutionary year yet.
Revenue Management challenges the resources in the importance of gathering information about the market so that you can be proactive. Use the information to divide your market and adjust your rooms through distribution, to the right guest at the right time and at the right price. Revenue Management is a concept that not only maximises yield in high period demand, it helps stimulating demand in low periods.
InnkeyPMS is all set to garner the technological advancements to help hotels achieve success in the coming year.