As discussed in the latest blog, 3 ways to increase profits in hospitality management were matching staffing levels to demand; utilising the value of your inventories and understanding ROI of Marketing. Now let’s uncover part 3, which is the last one of the series 9 ways to increase your hotel profits.
Recent TRG blog posts
9 ways to increase Hotel Profits: Part 3
Posted by Rick Yvanovich on Wed, Jul 16, 2014
Blog Topics: Hospitality solutions
9 ways to increase Hotel Profits: Part 2
Posted by Rick Yvanovich on Tue, Jul 8, 2014
After years of slow and stubborn recovery, with constrained capital budgets, hotel owners and hotel operators are facing huge pressure to increase hotel profits as investors are becoming more confident for trade propelled growth, thus fuelling an increase in transaction activity and worldwide improvements in hotel operations.
Blog Topics: Hospitality solutions
9 ways to increase Hotel Profits: Part 1
Posted by Rick Yvanovich on Mon, Jun 16, 2014
Today, the hospitality industry in general and hoteliers in particular are faced with a daunting road that requires great flexibility especially in terms of finance.
Blog Topics: Hospitality solutions
Boosting hotel revenue and customer satisfaction with self-service technology
Posted by Thuy Tien Tran on Mon, Feb 24, 2014
Nowadays, travellers are also becoming more tech-savvy. Hence, self-service technology namely mobile apps, check-in kiosks and lobby touchscreen become the important tools that bring opportunities to increase sales and bookings for hotels.
According to Taylor Short, who researches hotel management systems for Software Advice, the hospitality industry is figuring out that meeting a tech-savvy travellers’ expectations for connectivity and independence not only increase customer satisfaction, but also open up new revenue channels that didn’t exist before. In this article, we will walk you through how these self-service technology can help boost hotel revenue and increase customer satisfaction.
Read more: Travellers' expectations are changing and here's how hotels can keep pace
Blog Topics: Hospitality solutions, Technology trends
2 major technology trends to tighten the relationship between hospitality businesses and guests
Posted by Tien Tran on Mon, Nov 18, 2013
The non-stop development of technology has influenced almost every industry including hospitality. Since technology has been playing an important part in boosting revenue in many hotels, how technology provide great experience and convenience to hotel guests and help them stay engaged via social media platforms are a crucial key that contributes to the success of the hotels. In the last post, our guest blogger discussed generally about these emerging trends that can help drive hospitality business forward. This article will mention a bit deeper about social media and mobility trends for hotel managers to keep their businesses remain connected with their customers and choose the strategy that fits most them.
Blog Topics: Hospitality solutions, Technology trends
Technologies That May Help Hospitality Firms Improve Their Business
Posted by Manuela Theissen on Fri, Oct 25, 2013
The hospitality industry is a multi-billion dollar industry that typically relies on the availability of people’s leisure time as well as their disposable income. This industry – which includes, hotels, pension houses, restaurants, theme parks and others – usually thrives when there are enough people who are capable of spending money as well as willing to use them to pay for leisure services and facilities.
Blog Topics: Hospitality solutions
Another seminar ‘Office of the CFOs for Hospitality’ had ended successfully in Hanoi
Posted by Thuy Tien Tran on Thu, Sep 12, 2013
Hanoi, 10th September 2013 – Following its previous version, the seminar “Office of the CFO for Hospitality: A new way of working to maximise profits” had ended successfully in Hanoi.
The event was well-received by over 60 representatives from about 35 Hospitality organisations in Vietnam and the media. With years of experiences working with hospitality organisation globally, our experts, Mr. Rick Yvanovich - FCMA, CGMA, FCPA (Aust.) and Mr. Pham Hong Thai - Deputy General Director, TRG International shared their viewpoints and knowledge about the new concept for CFOs and top managers in Hospitality industry. The main point that was emphasised during the event is that, CFOs nowadays is not only responsible to financial management but also to the decision-making process of the organisation. Nonetheless, as a common practice, not just CFOs who need to make decisions but all managers within the organisation do. Thus, it is important to be able to get the information they need, before they need it by leveraging new technologies. Such that, CFOs and top managers nowadays have all the technologies they need to help them overcome financial challenges and improve their hotel management and performance process.
This seminar also carries one CPD hour for people who have CPD requirements such as CIMA, CPA, ACCA and CGMA and networking session for the audiences to meet and discuss with peers, seniors and expert in the Hospitality industry.
By continuing to introduce this Office of the CFO concept in Vietnam, especially for the Hospitality industry, TRG hope to build up stronger relationship with all hospitality organisations, and we hope we could help them shine by providing advices, working quietly and brilliantly in the background, identifying and implementing the right solutions (systems) for them so they can focus more on their core businesses.
Blog Topics: Hospitality solutions
TRG to introduce new ways to maximise profits to the Hospitality industry in Hanoi
Posted by Thuy Tien Tran on Mon, Aug 19, 2013
Hanoi – August 19th, 2013 – Following the success of previous seminar in Ho Chi Minh City, the “Office of the CFO for Hospitality: new ways of working to maximize profits”, TRG once again bring this concept to the audiences in Hanoi. The seminar - which is on Tuesday, September 10, 2013 at Hilton Opera Hanoi - is going to expect more than 120 representatives who are CEOs, CFOs, and Chief Accountants, Hotel owners, directors and managers from 3 and above star rating hotels, resorts and other companies in the hospitality industry countrywide.
Blog Topics: Hospitality solutions, CFOs
Boost profits with technology upgrades
Posted by Carla Burton on Wed, Aug 14, 2013
Blog Topics: Hospitality solutions
Differences Between Reporting and Business Intelligence in Hospitality
Posted by Linh Pham on Tue, Jul 23, 2013
For a long time, the hospitality industry presents reports (often called operational reports, list reports or flat reports) as on-screen reports, printouts or in PDF format. These reports are given daily, weekly or monthly in order to provide staff information on a steady basis.
Blog Topics: Hospitality solutions