AI’s Impact on Hotels, Understanding Your Guests' Profitability, and More!

Welcome to the Duetto Check-In bi-weekly newsletter.

In our latest partnership webinar, hospitality and tech industry leaders discussed the industry’s hottest topic – AI. Industry experts from Info-Tech Research Group , Agilysys , and Duetto provide actionable tips on how hoteliers can utilize AI to increase revenue.

Darren Koch , Chief Product Officer, Duetto, explores the relationship between a revenue management system (RMS) and a property management system (PMS) and how both can work to boost profitability.

And Duetto hotel partners, Gruppo UNA explain how refocusing on total profitability has helped boost revenues across the business.

Plus, details of our super-exclusive ITB Asia after-party!

Read on…

1. Steps Hoteliers Can Take To Make AI Useful And Actionable

Hospitality and tech industry leaders from Infotech, Agilysys, and Duetto came together to discuss how hotels can utilize AI to ‘rev up their revenue’ and consider the complementary nature of AI and human intelligence, and how hotels can leverage both to drive revenue growth.

“When property and revenue management meet data and AI, your property isn’t just smart, it’s a financial genius,” said Larry Fretz, PMP , Senior Managing Partner of Gaming & Hospitality, Info-Tech, in our recent webinar on AI in the hospitality industry.

"Having systems that provide a comprehensive view of data and then training your AI model on that data is the foundational underpinning on which your AI strategy should be based,” said Rohith Kori , SVP Product Strategy, Agilysys.

“As good as a team of people with a spreadsheet might be, they’re never going to be able to keep up with the power of a system and a platform backed by sophisticated algorithms and data analysis, where all the heavy lifting is done before it’s even surfaced to a director of revenue to make or approve pricing decisions,” said Tim Kennedy , Senior Director of Sales, Duetto.

• Check out the review blog: https://www.duettocloud.com/library/duetto-agilysys-and-infotech-webinar-recap-ais-impact-and-use-cases-in-the-hotel-industry
• And then watch the webinar in full: https://view-su2.highspot.com/viewer/651798962f1f5c43ab1a773e

FREE eBook

Discover how hotels use Open Pricing to optimize revenue in our latest free download. Crammed with case studies and best practices, download your copy today: https://www.duettocloud.com/special-reports/how-hotels-use-open-pricing-to-optimize-revenue

2. Understanding Your Guests' Profitability

In his latest article for Hotel Executive, Darren Koch, Chief Product Officer, Duetto, takes a closer look at guest profitability and considers big data's role in mitigating the hotel industry's top three risks:

• Not accurately pricing inventory: A hotel's rates could be too high or too low. If they're too high, the property is missing bookings that it would have received, and if they're too low, the hotel is leaving money on the table for every individual booking.
• Channel management complexity: So often hoteliers must decide which business they want to capture, so they open and close different channels. The simpler and more profitable solution is to let the guest decide; the hotel presents them with a price, and the guest decides if it's too high to book rather than the hotel running the risk of closing a channel and turning away bookings they thought they wouldn't get at a higher price point.
• Market volatility: Travel is highly competitive, guests are very well informed, and they have a great grasp of shopping tools. An example of volatility is when a large event is canceled or postponed – everything becomes hyper reactive. Even when an individual university shifts an event date like a family weekend, it can cause a sudden surge in bookings on an off weekend. The dynamic nature of the market requires properties to keep track of both what's happening inside their building with large-scale changes in booking velocity, as well as what is happening outside the walls such as special event calendars and overall market differences. This can also lead to opportunity cost risk, but these volatile, quick-moving changes can have a serious material impact.

He goes on to look at the role revenue management plays in calculating total guest value and considers how to grow your bottom line.

• Read the full article in Hotel Executive here: https://www.hotelexecutive.com/business_review/7758/understanding-your-guests-profitability

3. How Gruppo UNA Refocused Revenue on Total Profitability

When non-room revenue represents 40% of your total revenue you need to take a total profitability approach to revenue. Italy’s Gruppo UNA has done just that, with great results.

Luca Vallasciani , Director of Revenue, Gruppo UNA, shares how the group has adopted open pricing and a total profitability strategy to grow revenue.

Gruppo UNA has a wide selection of properties – from conference center hotels to luxury resorts – and a wide guest demographic. Business hotels attract a more domestic market, while tourist hot spots such as Venice and Rome attract more international demand. As such, the commercial strategies vary depending on the hotel type.

In our blog, Vallasciani sheds light on his strategy and how his cluster revenue operation works.

• Read more: https://www.duettocloud.com/library/gruppo-una-refocuses-revenue-on-total-profitability-and-open-pricing ?

4. Upcoming Events

Be sure to say Hello to Team Duetto at these upcoming events:

• Oct 26 - ITB Asia - Afterglow, Singapore - ?? THE afterparty ?? – secure your ticket NOW - https://go.duettocloud.com/itbasia-hotelier-mixer-23 ?
• Oct 26 - London Asset Growth Summit, London, UK -https://www.eventbrite.es/e/london-asset-growth-summit-tickets-727512408197 ?

5. Subscribe for MORE

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