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The hotel industry implemented no-show terms and fees during the 1970s and 1980s, and they are an accepted industry practice among travelers. So why are car rental companies late to the dance? The financial implications are hard to ignore: Ten to 30 percent of all post-paid reservations are no-shows, depending on the channel booked (direct to supplier has a lower no-show rate while large travel portals have higher rates).
One of the best ways for hoteliers to engage guests is to offer them products and services that they'll covet – and willingly pay for. That's why upsells are vitally important, especially now as operators try to recover lost revenue. But the question remains: How do you pursue them without taxing already-stretched staff and resources? Artificial intelligence, or more specifically, machine learning (ML) makes it possible.
World Panel In this viewpoint, we asked 9 leading solution providers to share their views and thoughts on how revenue management will change in the post-COVID era. In this viewpoint, we asked 9 leading solution providers to share their views and thoughts on how revenue management will change in the post-COVID era. Chinmai Sharma President – Americas, RateGain — website Skift Global Recovery Index shows that currently, we stand at 42% recovery compared to last year.
Technology enables service. That’s the idea, anyway. In the hotel industry, thousands of companies worldwide provide hundreds of software applications to help hotels and hotel companies manage operations to provide better guest service. But which technology or use of technology really provides strategic value for a hotel or hotel company?
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