Altexsoft

OCTOBER 12, 2023

With the right RMS in place, hotels and vacation rentals can optimize room pricing, enhance occupancy rates, and boost overall revenue. What is a revenue management system for hotels? Revenue management is a strategic approach to understanding and anticipating consumer behavior to determine optimal pricing strategies.

Hotels 52

Hotels Systems Review System Software Review 52

Altexsoft

MARCH 26, 2021

In April 2020, the hotel occupancy in the US dropped to its lowest level ever — the bewildering 24.5 The annual average was roughly 44 percent, which means that more than half of hotel rooms were empty during the whole year. The hospitality industry was among those that suffered the most because of the COVID-19 pandemic.

Hotels 119

Hotels Engineering Software Review Travel 119

Altexsoft

JULY 20, 2021

Hotels have been experiencing a surge of direct bookings during the pandemic. Yes, while the overall number of bookings dropped due to COVID-19, hotels’ brand.com websites became the third most popular booking channel , in some cases even surpassing Expedia traffic. Direct booking strategies for hotels. Why is that?

Hotels 98

Hotels Travel Technical Review Media 98

Altexsoft

MARCH 30, 2022

Upselling and cross-selling provide hotel owners and managers with the ability to drive greater profit from the same guest by timely offering valuable services. This post aims at explaining the key hotel upselling and cross-selling strategies, ways to digitize them effectively, and examples of existing software serving that purpose.

Hotels 59

Hotels Tools Strategy Off-The-Shelf 59

Altexsoft

FEBRUARY 21, 2023

Hotel price prediction is a critical aspect of the travel industry, and with the rise of machine learning , it has become more precise and accurate. The key objective behind this task is to set the best booking prices to entice customers and ensure that hotels take full advantage of their business potential.

Hotels 52

Hotels Machine Learning Artificial Inteligence Travel 52

Altexsoft

SEPTEMBER 10, 2022

Every now and then, a big hotel brand introduces its own take on the “hotel room of the future”. IHG , Marriott , Accor , and many more have been developing automatic, contactless, personalized experiences to wow their guests and redefine the hospitality market. What is a smart hotel? IoT hospitality applications.

Hotels 59

Hotels IoT Infrastructure Technical Review 59

OTS Solutions

SEPTEMBER 20, 2018

A guide to modern mobile app development strategy. One of the areas that a lot of focus has been laid on is mobile application development. As a CEO, if you want your brand to get closer to your consumer, mobile application development should be part of your short-term or long-term business strategy.

Mobile 100

Mobile Weak Development Team Strategy Development 100

Altexsoft

FEBRUARY 19, 2020

Interestingly, in the era of flight aggregators and websites with massive hotel inventories, we still tend to trust our own instincts and dig for better and cheaper options. Acquisition analytics. Demand analytics. Revenue analytics. Supplier analytics. Costs and profit analytics. Acquisition analytics.

Travel 111

Travel Analytics Strategy Data 111

Altexsoft

SEPTEMBER 19, 2023

Beyond its fundamental role in elevating customer experience, travel analytics has a valuable impact on revenue growth and cultivating a competitive edge. This article explores the influence of analytics on marketing strategies, revenue management, guest personalization, and other aspects of the travel industry.

Travel 52

Travel Analytics Examples Airlines 52

Altexsoft

MAY 13, 2021

In 2021, the biggest challenge hotels face is successfully recovering from the COVID-19 impact. Even before the pandemic, when travel was booming, hotels — especially of middle and small sizes — experienced difficulties of another sort. What is a hotel booking engine and how it makes you competitive.

Hotels 69

Hotels Engineering Technical Review How To 69

CIO

JANUARY 23, 2023

With a career path that wound through R&D, product development, advanced supply chain, and technology, Praveen Jonnala is well positioned to lead a global IT organization as well as take the reins of operations and other core business functions.

Leadership 363

Leadership Real Estate Hotels Apparel 363

Altexsoft

MAY 26, 2021

It’s been a long time since it became obvious that to develop and stay competitive, businesses have to support their decision-making with data. So, the aim of this article is to describe the main KPIs typically adopted by hotels to support their business analysis. But, easier said than done. Occupancy rate. What does it show?

Hotels 64

Hotels Metrics Performance KPI 64

Altexsoft

SEPTEMBER 19, 2018

A hotel jam-packed with people isn’t always a profitable hotel. Hotels employ various revenue management techniques and strategies aimed at increasing the bottom line. Compared to airlines, revenue management in hotels evolves slowly. What is hotel revenue management? Dynamic pricing strategies for hotels.

Hotels 66

Hotels KPI Travel Analysis 66

CIO

JUNE 2, 2023

And with the expansion and consumer popularization of AI fueled by recent advances such as ChatGPT, Expedia’s extensive use of analytics and machine learning to fuel that personalization strategy should enable the company to help evolve the travel industry, even as its pool of customers and partners grows, says Murthy. “AI

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Generative AI Artificial Inteligence ChatGPT Travel 224

Altexsoft

JUNE 21, 2023

The Average Daily Rate (ADR) — one of the leading hotel KPIs for gauging performance and profit — has gained considerable importance, and for a reason. We also investigate predicting ADR through machine learning and strategies to enhance this KPI. Example 1: Small boutique hotel. What is ADR?

KPI 52

KPI Hotels Strategy Machine Learning 52

Altexsoft

SEPTEMBER 28, 2018

In one Hotel Hell episode, lodge guests had to search for a front desk employee by themselves. Eventually, a bartender checked them in with a pen and notebook…The property owners didn’t have an online booking system and were losing a significant amount of revenue they could have used for development. Consistency across channels.

Hotels 79

Hotels Travel How To Systems Review 79

Apiumhub

MAY 20, 2024

With AI evolving at such a rapid pace, it’s essential to keep up with the latest developments and artificial intelligence conferences 2024. These events are at the forefront of AI research and development, providing attendees with valuable insights, networking opportunities, and hands-on experiences.

Artificial Intelligence 96

Artificial Intelligence Artificial Inteligence Conference Generative AI 96

Altexsoft

OCTOBER 31, 2023

So let’s talk about how you can build an effective omnichannel strategy that will boost your business development. These and other research prove that even though an omnichannel approach requires a significant investment in technology and strategy alignment, it leads to sales growth and better long-term customer relationships.

Strategy 52

Strategy How To Mobile Media 52

Altexsoft

DECEMBER 9, 2020

Still, today, according to Deloitte research, insight-driven companies are fewer than those not using an analytical approach to decision-making, even though the majority agrees on its importance. What is analytics maturity model? They also serve as a guide in the analytics transformation process. Stages of analytics maturity.

Analytics 102

Analytics Technical Review Technology Applications 102

TechCrunch

MARCH 31, 2022

In the pandemic era, when digital storefronts have become a matter of course for retailers, data analytics is proving its worth. Those advantages — as well as their ability to forecast inventory and measure the effectiveness of marketing campaigns — have driven predictive analytics software revenues to record heights.

Artificial Inteligence 232

Artificial Inteligence Retail Machine Learning Analytics 232

Altexsoft

JULY 20, 2020

While the aviation industry gets to enjoy a better way to deliver prime customer experience, hotels remain a few steps back. This is something that happened historically – IATA existed since the dawn of civil aviation , and hotels never had a centralized regulator to keep the industry united. XML message schema.

Hotels 52

Hotels Airlines Travel Industry 52

TechCrunch

AUGUST 29, 2021

Urbanbase , a Seoul-based company that develops a 3D spatial data platform for interior planning and design, announced today it has raised $11.1 This round of funding was led by Hanwha Hotel & Resort, which is a subsidiary of South Korean conglomerate Hanwha Corporation. billion in 2021, based on Strategy Analytics’ report.

3D 189

3D VR Tools B2C 189

Altexsoft

MAY 14, 2021

And that’s the most important thing: Big Data analytics helps companies deal with business problems that couldn’t be solved with the help of traditional approaches and tools. This post will draw a full picture of what Big Data analytics is and how it works. What is Big Data analytics? Traditional approach.

Big Data 78

Big Data Analytics Tools Applications 78

OTS Solutions

OCTOBER 10, 2023

It encompasses technologies such as the Internet of Things (IoT), artificial intelligence (AI), cloud computing , and big data analytics & insights to optimize the entire production process. include the Internet of Things (IoT) solutions , Big Data Analytics, Artificial Intelligence (AI), and Cyber-Physical Systems (CPS).

Artificial Inteligence 147

Artificial Inteligence Mobile Industry Cloud 147

Altexsoft

FEBRUARY 26, 2019

Commodity traders, investors, construction developers, or energy generators use estimates on future price movements for business purposes. In general, price forecasting is done by the means of descriptive and predictive analytics. Descriptive analytics. In short, this analytics type helps to answer the question of what happened?

Real Estate 69

Real Estate Artificial Inteligence Machine Learning Hotels 69

Xicom

JULY 21, 2020

All thanks to the leading app development company for bringing Predictive Analysis as the new reality in the healthcare arena. The Landscape – “Predictive Analytics” This landscape of statistics deals with the use of machine learning algorithms and data, predicting the probability of future outcomes based on past data.

Healthcare 52

Healthcare Analytics Technical Advisors Analysis 52

Altexsoft

AUGUST 13, 2020

Data analytics is one of the key directions for digital transformation in various industries, travel included. And hospitality is no exception: the hotel industry operates large amounts of data by its nature. Today, we’ll look at the specifics of using BI in the hotel industry. Hotel data sources.

Business Intelligence 59

Business Intelligence Hotels Technical Review Technology 59

Altexsoft

APRIL 19, 2022

From sharing a corner in your living room with an air mattress to running a whole hotel-like operation with multiple properties, alternative accommodation hosts today can make bank. Hotels want to be like Airbnbs, investing in unique, homey properties where people come to live, rest, and work. Hotels and vacation rentals, compared.

Hotels 52

Hotels Tools Software Review Systems Review 52

Altexsoft

JANUARY 19, 2022

Social sustainability considers the impact travel has on the well-being and development of local communities. It means that people want to travel responsibly, so hotels, airlines, and tour companies have to keep up and satisfy their customers (and attract new ones). Sustainability in hotels and hospitality industry.

Travel 95

Travel Sustainability Technical Review Airlines 95

Altexsoft

JUNE 10, 2021

But he also pioneered yield management — the set of price optimization strategies that preceded revenue management. The economic impact of yield management strategies utilized by American Airlines is apparent. Revenue management strategies in hotels are also common.)

Airlines 59

Airlines Strategy Weak Development Team Technical Review 59

Apiumhub

SEPTEMBER 20, 2023

It’s a great opportunity for developers, team leads, and consultants willing to get inspired to learn from industry leaders, improve their skills, and network with other professionals in the industry. The event takes place on October 16–18 at the Clarion Hotel Stockholm in Stockholm, Sweden.

Conference 96

Conference Artificial Inteligence UI/UX Machine Learning 96

Altexsoft

MAY 31, 2022

Participating organizations included hotels, airlines, online travel agencies, travel management companies, destination management companies, and others. . Some of the major discussion points included seizing the opportunities after the travel rebound, opening new travel markets and destinations, as well as developing new finance strategies.

Travel 52

Travel Marketing Tourism Airlines 52

Altexsoft

JULY 14, 2022

Summing up, we can say that today’s travelers no longer want to spend their vacation hopping on and off the sightseeing bus at the packaged group tour or chilling lazily next to the pool with a cocktail at the all-inclusive hotel without ever leaving the premises (well, we’ll be honest, some still do). TripCreator ), a channel manager (e.g.,

Travel 105

Travel Tourism Hotels Technical Review 105

Altexsoft

DECEMBER 30, 2022

They help hotels, airlines, car rental services, and other suppliers sell inventory to end customers — and charge fees for this mediation. Smaller OTAs can hold and grow their market share by setting lower commissions and overall being flexible with their pricing strategies. Yet, this benefit comes at a price of high commissions.

Engineering 52

Engineering Hotels Travel .Net 52

Altexsoft

JANUARY 17, 2023

If you operate a vacation rental management company and are looking for ways to develop, or if you’re just considering the possibility of starting such a business, we hope that this post will help you get a clearer picture of how things work in this industry, learn more about related technologies, or just pick up a tip or two.

Strategy 52

Strategy Company Technical Review Software Review 52

Altexsoft

AUGUST 9, 2023

Understanding corporate travel management and its unique needs Corporate travel management is a specialized function within businesses that involves managing, coordinating, and optimizing an organization’s strategy to travel. Their interaction is centered around reporting, analytics, and oversight features.

Travel 52

Travel B2B Off-The-Shelf Hotels 52

Altexsoft

OCTOBER 27, 2023

Online travel agencies landscape If you start an OTA from scratch, plan to get your existing offline business online, or think over a growth strategy, you need to know the current state of affairs in the market, consider the biggest players, and explore the latest trends. enabling you to book flights and hotels.

Travel 52

Travel Hotels Technical Review Off-The-Shelf 52