Staying on top of the news and the industry trends is critical for hoteliers to remain competitive.
Infographic: 5 Hospitality Trends To Pay Attention To in 2019
However, alongside new trends are challenges that hoteliers also have to face. Managing the existing pool of talents, defining brand identity, seeking new sources of revenue generation, etc. are the areas that hoteliers should pay close attention to.
Digital transformation has huge and positive impacts on traditional businesses. The hotel industry is not an exception.
Each client has his or her own expectation. The ability to manage those personal preferences and provide available services and rooms to make customers happy is a key factor to stay ahead of the competition.
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The challenge of revenue management is particularly complex. The basic approach to pricing guest rooms has evolved from a technique that uses “best available rate” (BAR) pricing to one that uses dynamic pricing based on data-driven demand forecasts.
Hotel accounting is more than just managing revenue and expenses. Each hotel faces unique financial needs that demand competent staff and suitable accounting system that will allow management to plan for the future.
Financial management lays the very foundation of a successful business. Likewise, the most successful hotels rely on fundamental financial management principles to enable them to manage their property profitably.
Read more: Best practices in Hotel Financial Management
At TRG International, we offer solutions specifically tailored to the Hospitality industry.
These powerful solutions are easy to use, allow our clients to manage complex business changes, to transform their financial management function, and enable them to grow.
Whether you’re a single hotel or a global chain, SunSystems is a financial management solution designed to help you manage the unique demands of the industry.
Case study: Read how Vienna House, an Austria-based hotel chains, has automated their reporting function with Infor!
More resources on SunSystems for Hospitality
Move your hotel property management functions to the cloud, optimise your operations to deliver the best possible guest experiences while increasing profitability with this next generation hotel management solution.
To learn more about Infor HMS or request a demo, please click here.
Infor d/EPM for Hospitality is designed with the advanced functionality to help implement and facilitate analysis. Another great feature is Office Plus which integrates directly with Microsoft Excel.