Recent TRG blog posts

As global macroeconomic conditions and geopolitical factors remain challenging, achieving financial goals necessitates a strategic approach that leverages new technology. This is where a cloud-based property management system (PMS) steps in, offering a powerful tool to streamline operations, enhance guest experiences, and ultimately, drive profitability.

Procurement in the hospitality industry is not just about buying goods and services; it is a strategic process that impacts the overall quality of operations. With responsibilities ranging from sourcing furniture, equipment, food, and beverage supplies to managing relationships with suppliers, this function has evolved from mere cost-cutting to becoming essential in achieving business goals.

The global hospitality industry has been observing strong signs of recovery heading into 2024, with demand rebounding to pre-pandemic levels. With travel on the rise once more, hoteliers must strategise effectively to capitalise on this revival period through proactive alignment with emerging trends.

Hotels and resorts are laying the groundwork for how they will do business in a new decade and beyond, in an effort to stay competitive, profitable, and ready to meet new challenges. Industry leaders are examining the workflows and mechanics of technology-driven processes, like data infrastructure, reservations, event planning, inventory control, competitive price setting, and revenue forecasting—and seeking out ways to tie them all together to better serve operations, revenue management, and brand strategy.

The hospitality industry will likely never be the same again. This isn’t necessarily bad news, though. Right now, industry leaders are thinking about how to evolve their businesses—embracing innovation and planning ways to ensure stability and long-term success.

The rapid development of technology continues to reshape the hospitality industry, with innovations like cloud-based software and mobile apps driving a new era of hyperautomation and hyperpersonalisation.

Implementing new software can be a daunting task, especially when it comes to financial management in hotel businesses. However, with the right precautions and strategies in place, the process does not have to be overwhelming.

Digital transformation refers to the implementation and utilisation of digital technologies in the business to achieve a competitive edge. Those benefits include greater efficiency for the stakeholders, stronger business agility, and many more. Many industries are taking advantage of this digital transformation agenda, and the Hospitality Industry is no exception.

As globalisation continues to flourish and travel becomes more accessible, workplaces are experiencing an unprecedented level of diversity. This is particularly significant in the hospitality industry, where employees frequently interact with a diverse range of customers.