Hospitality

Risk Management Through Innovation in an Uncertain Business Climate

Even as air travel slowly resumes, managing the risk of another COVID 19 outbreak remains ever-present to hoteliers. In these critical times, hotels can leverage the strengths of technology and automation to ramp up operations quickly when markets and demand pick up and remain competitive even as they might slow down again. Those who manage to innovate during uncertain and changing times will be the ones who emerge stronger than the competition as a new travel industry emerges in the coming years.

Managing Ongoing Risk with Technical Innovation

  • Expand and digitize your distribution across all key segments and points of sale

  • Explore relationships with opaque channel partners to protect rates

  • Real-time insights for demand, booking and channel performance

  • Leverage performance-based models wherever possible

  • Utilize open-source, microservices-based architecture for greater integration, adaptability, and speed to market

  • Platform redundancy via self-service access (UI)

  • Focus internal teams on those areas core to your business where you can uniquely deliver value

  • Partner where there are economies of scale to reduce operational costs and R&D investment

Must-Have Technologies

  • 2- way, real-time PMS/CRS integrations to all third party partners

  • RMS (revenue management system) with live integration to external market performance data

  • The ability to connect to third-party proprietary and open standard APIs i.e., OTA, HTNG, NDC

  • Support the OTA Content message to automated channel mapping

  • Automated cancellation, re-booking & refund processing

  • Cloud-based cost/performance platform for high availability and scalability

  • Rule engine approach that allows for greater flexibility and faster time to market