Weekly Insights. July 27, 2024

How do you envision AI transforming the hospitality industry in the next year, and more importantly: what should we do TODAY to prepare?

At HITEC Charlotte 2024, I had the opportunity to sit down with over 50 industry experts to discuss the potential transformation AI could bring to the hospitality industry within the next year. The aim was to create some kind of "time capsule" to revisit at HITEC Indianapolis 2025 and assess the accuracy of our predictions. The responses varied widely, from cautious optimism to a firm belief in AI's revolutionary impact. Recurring themes in my conversations included data collection challenges in our traditionally data-siloed industry, privacy concerns, the use of generative AI in marketing content and advertising, enhanced revenue management prediction strategies, and changes in the digital booking journey due to the introduction of SGE travel agents in Google or hybrid search engines/generative engines such as Perplexity.

With these insights in mind, now it's your turn to take a guess: how do you see AI shaping the hospitality industry in the near future, and what are the most critical factors that will determine its success or failure?

How to use visuals to improve your hotel website conversion

Visuals play a crucial role in telling your story and demonstrating why your hotel is the best choice for guests. An expertly designed website can enhance your hotel's perceived value, while a poor design can harm your reputation before guests even arrive. Engaging and converting potential customers hinges on the visual narrative. We’ll look at the top ways to make every pixel count, evoke emotions and drive conversion.

Cash is king: The critical importance of liquidity in the hospitality industry

In the fast-paced and volatile world of hospitality, one adage stands the test of time: cash is king. While profitability is crucial for long-term success, it’s liquidity that keeps the lights on and operations running smoothly day-to-day. The ability to manage cash flow effectively can mean the difference between thriving and merely surviving – or worse, shuttering doors permanently.

This article will explore why liquidity is so vital in the hospitality sector, the unique challenges the industry faces, and practical solutions for maintaining a healthy cash position. 

Extranet in travel booking systems: Features and examples

Whether you’re a hotelier looking to maximize your property’s online visibility or a technical specialist in the hospitality tech industry, you’ve probably encountered the concept of a booking extranet. This tool plays a pivotal role in optimizing booking management and revenue strategies.

This article details the key features and advantages of a booking extranet. We'll also show you the main difference between a channel manager and an extranet and review the notable OTA extranets.

What will be the impact on hotel marketing of Google abandoning its vision for a future without third-party cookies?

Google just announced it was abandoning its quest to remove support of third-party cookies in its popular browser Chrome after four years of delays to find an alternative, citing “the amount of work it would take to move away from cookies, and the amount of impact it would have across the digital ad industry.” There were also rumblings by some government authorities in the UK and EU, which were concerned that Google’s stopping its support to third-party cookies in Chrome would be anti-competitive.

Could Amazon become a major player in travel?

Amazon, which boasted record-breaking sales during this week's Prime Day event, made headlines for its travel-related offerings, something of a novelty for the company.

While the impact travel deals made on Prime Day results is unclear, the handful of offerings from big name brands including Carnival Cruise Line, Tripadvisor’s Viator and Southwest Airlines begs a slew of questions.

What does the future of travel look like in relation to Amazon? Will the platform become a major player in the industry? And if so, in what form?

Maximizing profitability: Revenue growth vs. operational efficiency

In this blog post, we'll explore these two fascinating scenarios, exploring their benefits and hurdles from a hotel management perspective. We'll also discuss the key measurements for success and how to implement each strategy effectively. Whether aiming to boost revenue or enhance operational efficiency, understanding these approaches will empower you to make informed decisions that drive your hotel's success. So, let's embark on this journey to uncover which strategy might be the key to unlocking your hotel's full potential.

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