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.

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Hotels Engineering Software Review Travel 119

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

CIO

OCTOBER 9, 2023

“This creates large problems for the CIO and IT department as they look to create the next-generation IT environment and manage day-to-day challenges such as cybersecurity, digital business technology platform development, and operational excellence,” according to the report. Performance improves when the culture of collaboration is strong.”

Hotels 329

Hotels Innovation Agile Games 329

Altexsoft

JUNE 26, 2023

We’ll particularly explore data collection approaches and tools for analytics and machine learning projects. It’s the first and essential stage of data-related activities and projects, including business intelligence , machine learning , and big data analytics. What is data collection?

Machine Learning 52

Machine Learning Artificial Inteligence Data Systems Review 52

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 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

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

Generative AI 224

Generative AI Artificial Inteligence ChatGPT Travel 224

CIO

NOVEMBER 14, 2022

Modern analytics is about scaling analytics capabilities with the aid of machine learning to take advantage of the mountains of data fueling today’s businesses, and delivering real-time information and insights to the people across the organization who need it.

Analytics 223

Analytics Machine Learning Artificial Inteligence AWS 223

Altexsoft

JANUARY 30, 2023

In this blog post, we’ll show you how to implement and take advantage of a closed user group strategy. They are a way for travel vendors to offer discounted airfares, hotels, car rentals , and other perks and benefits to certain clients, while also potentially increasing sales and customer loyalty. What is a closed user group?

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Travel Groups Hotels Examples 97

Altexsoft

FEBRUARY 26, 2019

Commodity traders, investors, construction developers, or energy generators use estimates on future price movements for business purposes. Predictive analytics requires numerous statistical techniques, such as data mining (identification of patterns in data) and machine learning.

Real Estate 69

Real Estate Artificial Inteligence Machine Learning Hotels 69

Altexsoft

MAY 5, 2023

AI in a nutshell Artificial Intelligence (AI) , at its core, is a branch of computer science that focuses on developing algorithms and computer systems capable of performing tasks that typically require human intelligence. This includes learning, reasoning, problem-solving, perception, language understanding, and decision-making.

Artificial Inteligence 59

Artificial Inteligence Machine Learning Technical Review ChatGPT 59

TechCrunch

MARCH 31, 2022

With a war chest now exceeding $30 million, CEO Richard Harris says that Black Crow will use the capital to “accelerate development of new and accessible machine learning use cases in both digital commerce and adjacent verticals” and expand the team across “product, client service, and commercial.”

Artificial Inteligence 232

Artificial Inteligence Retail Machine Learning Analytics 232

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

Apiumhub

SEPTEMBER 20, 2023

From software architecture to artificial intelligence and machine learning, ​​these conferences offer unparalleled insights, networking opportunities, and a glimpse into the future of technology. The event takes place on October 16–18 at the Clarion Hotel Stockholm in Stockholm, Sweden. Register here to get yours.

Conference 96

Conference Artificial Inteligence UI/UX Machine Learning 96

AWS Machine Learning - AI

NOVEMBER 22, 2023

You marked your calendars, you booked your hotel, and you even purchased the airfare. Now all you need is some guidance on generative AI and machine learning (ML) sessions to attend at this twelfth edition of re:Invent. Yes, the AWS re:Invent season is upon us and as always, the place to be is Las Vegas!

Generative AI 104

Generative AI Artificial Inteligence AWS Machine Learning 104

Altexsoft

SEPTEMBER 19, 2023

This article explores the influence of analytics on marketing strategies, revenue management, guest personalization, and other aspects of the travel industry. Learn more about the functions of internal systems with our dedicated articles about hotel property management systems and passenger service systems.

Travel 52

Travel Analytics Examples Airlines 52

Altexsoft

NOVEMBER 15, 2022

The occupancy rate is a key indicator of the historical, current, and looking-forward performance of a hotel or vacation rental business. The occupancy rate in hospitality is the share of occupied hotel rooms or vacation rental units at a given time. Overall, average hotel occupancy rates range between 65 and 80 percent.

Hotels 52

Hotels Machine Learning Artificial Inteligence KPI 52

CIO

JANUARY 9, 2023

Hiring and retaining the best people with the right skills is always the best strategy to improve overall performance.” The need to grow smartly Gil Westrich’s company, ClearML, is benefiting from increased adoption of artificial intelligence and machine learning (ML) technology. And doing so is beginning to pay off.

Technical Review 363

Technical Review Fractional CTO CTO Artificial Inteligence 363

OTS Solutions

OCTOBER 10, 2023

is the fourth industrial revolution that is driven by the convergence of various technologies such as the Internet of Things (IoT), artificial intelligence (AI), machine learning , big data analytics, robotics, and others. Key features of Industry 4.0 Industry 4.0 Digitization is the most critical feature of Industry 4.0,

Artificial Inteligence 147

Artificial Inteligence Mobile Industry Cloud 147

Altexsoft

AUGUST 18, 2023

OTAs, hotel booking platforms , and other travel businesses need to have real-time access to extensive hotel inventories to offer diverse choices to their customers. With the strategic acquisition of Tourico Holidays and GTA wholesalers, Hotelbeds expanded its portfolio to encompass over 300,000 hotels across 200 destination countries.

Hotels 52

Hotels Banking Technical Advisors Technical Review 52

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

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

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.) Which brings us to the next improvement.

Airlines 59

Airlines Strategy Weak Development Team Technical Review 59

Altexsoft

SEPTEMBER 7, 2021

Now, let’s talk about those strategies in detail. Customer acquisition strategy in insurance. It uses machine learning to capture more nuanced customer behavior patterns. However, before implementing machine learning and predictive lead scoring, you need data. Customer retention strategies in insurance.

Insurance 59

Insurance Technical Review Strategy Technology 59

Altexsoft

JUNE 9, 2023

Large language models and transformers in a nutshell Language models , types of machine learning models, are trained to anticipate the likelihood of a word sequence. They predict the next appropriate word based on text context, essentially learning how humans use language. What is ChatGPT? Pricing for API usage (GPT-3.5

ChatGPT 52

ChatGPT Travel Artificial Inteligence Hotels 52

Altexsoft

NOVEMBER 1, 2023

Word embeddings translate words or phrases into numerical vectors of fixed size, making it easier for machine learning models to process. NER example Consider the sentence: “Mary from the HR department said that The Ritz London was a great hotel option to stay in London.” And this can go a long way.

Artificial Inteligence 52

Artificial Inteligence Machine Learning Systems Review Training 52

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

AUGUST 13, 2020

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. Business intelligence in hotels: sources of data and components. Hotel data sources. Hotel Property Management System modules.

Business Intelligence 59

Business Intelligence Hotels Technical Review Technology 59

Altexsoft

MARCH 28, 2022

This term refers to hotel alternatives that can be booked for several days or weeks (hence, the second name — short-term rentals.) Vacation rentals usually offer guests more attractive prices than hotels along with a more private setting. One of our tasks was to develop an occupancy rate predictor for an upcoming month.

Analysis 52

Analysis Data Software Review Technical Review 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

APRIL 24, 2019

How would you price tickets not only to cover expenses for each route but also to achieve a certain level of revenue to be able to grow and develop your business? The reality is that you’ll need a more sophisticated pricing strategy to fit into today’s highly competitive market and be flexible enough to adjust to any changes.

Machine Learning 73

Machine Learning Artificial Inteligence Software Review Retail 73

Altexsoft

SEPTEMBER 13, 2023

In the world of machine learning , there’s a well-known saying, “An ML model is only as good as the training data you feed it with.” Watch our video about data preparation for ML tasks to learn more about this. It points out the critical role that data quality plays in the outcomes you get from these algorithms.

Engineering 59

Engineering Artificial Inteligence Generative AI Technical Review 59

Altexsoft

MAY 8, 2020

Without this software component, you can neither sell nor buy airline tickets or hotel reservations through the Internet. The key systems on the suppliers’ side are: Global Distribution Systems ( GDSs ), bed banks , airline consolidator databases, hotel property management systems ( PMSs ), and. How a travel booking engine works.

Travel 69

Travel Engineering Hotels Airlines 69

Apiumhub

MARCH 16, 2021

Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis of business information. Dashboard development. BI technologies can handle large amounts of structured and sometimes unstructured data to help identify, develop, and otherwise create new strategic business opportunities.

Business Intelligence 117

Business Intelligence Tools Artificial Inteligence Technical Review 117

Altexsoft

AUGUST 30, 2023

It seems nothing but convenient to set up an auto-payment and get cable or streaming services, ready-made meals, beauty products, gym passes, co-working spaces, online education, hotel discounts, insurance, you name it. Needless to say, this trend creates immense business opportunities for companies from different sectors – travel included.

Travel 52

Travel Hotels Airlines Insurance 52

Kaseya

APRIL 15, 2020

In addition, it is extremely difficult to develop cybersecurity strategies to keep up with the rapid emergence of new IoT devices. A deepfake is the use of machine learning and artificial intelligence (AI) to manipulate an existing image or video of a person to portray some activity that didn’t actually happen.

Malware 136

Malware Artificial Inteligence Software Review Systems Review 136

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. It achieves this by gathering, structuring, and distributing detailed travel product data from various sources.

Travel 52

Travel B2B Off-The-Shelf Hotels 52