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One weird trick to accelerate your organization’s generative AI strategy

CIO

Bryan Kirschner, Vice President, Strategy at DataStax Ignoring the potential of generative AI to increase productivity is a surefire way to fall behind as an individual, a team, and an organization. The most powerful framework I’ve found for effective strategic thinking is what Roger Martin calls the “strategy choice cascade.”

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Open Pricing Strategy for Hotel Revenue Management: Concept, Advantages, Tools, and Implementation Steps

Altexsoft

As a hotel revenue manager, one of your key responsibilities is creating a pricing strategy tailored to the property and its market. Many hotels still rely on a fixed pricing strategy that uses a tiered pricing system based on room types. What is an open pricing strategy?

Hotels 52
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Hotel Price Prediction: Hands-On Experience of ADR Forecasting

Altexsoft

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
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Hotel Booking Engine: How to Boost Direct Bookings

Altexsoft

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
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Average Daily Rate: The Role of ADR in Hospitality Revenue Management and Strategies to Improve This KPI

Altexsoft

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
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Central Reservation System for Hotels: CRS Functionality and Software Explained

Altexsoft

Today, the share of walk-ins in the hotel industry keeps reducing annually. At the time of global digitalization, 75 percent of all hotel bookings are made online. Among that, 40 percent of the reservations are made via Booking.com, 32 percent — via other aggregators, and 21 percent — through a hotel’s website.

Hotels 76
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Hotel Online Payments: How and Why to Transform Your Payment Process

Altexsoft

Let’s be honest, for many hotels, payment functionality is not a priority. But if you work in the hospitality business, you must have noticed that the way people book and pay for hotels has changed, especially since the start of the pandemic. Hotel payments challenges. These common problems stall many hotels’ transformations.

Hotels 52