How can a hotel chain whose properties are located in many different countries reliably provide its financial professionals with advanced forecasting and reporting capabilities around the clock and across multiple devices? Find out how forcasting in the hospitality industry works with the case of Kempinski Hotels - the Europe’s oldest luxury hotel group.
Recent TRG blog posts
Automating Financial Forecast for Hotels with Cloud Systems
Posted by Rick Yvanovich on Tue, Apr 12, 2022
Blog Topics: Hospitality solutions, CFOs, Enterprise Performance Management (EPM), Financial Accounting Management Software
How Hotel Executives Can Make the Most Out Of a Technology Partnership
Posted by Rick Yvanovich on Fri, Apr 8, 2022
In the previous post, we’ve discussed what questions hotel executives should ask in order to choose the right technology partners. In today’s article, we will dive deeper into how you can further foster and grow those partnerships.
Blog Topics: Hospitality solutions
How Can Hotel Executives Foster a Successful Technology Partnership?
Posted by Rick Yvanovich on Fri, Apr 1, 2022
Technology continues to play a huge role in the hospitality industry’s efforts to navigate today’s extraordinary environment. And forming cohesive technology partnerships has always been fundamental to the success of a hotel business.
Blog Topics: Hospitality solutions
What Are the Effects of Global Inflation on the Hospitality Industry?
Posted by Rick Yvanovich on Thu, Mar 24, 2022
According to IHS Markit1, inflation will remain high in 2022, hovering around 5%, before falling to 2.8% in 2023.
Blog Topics: Hospitality solutions
Challenges for Hotels During Reopening & How to Overcome Them
Posted by Thao Chau on Mon, Feb 7, 2022
We all know how devastating the COVID-19 pandemic has been to the hospitality industry. Although the situation is gradually improving, the sector is still far from being out of the woods. So, what are the challenges hotel businesses may experience during this "business-as-unusual" period and what can they do about them?
Blog Topics: Hospitality solutions
Infor Ming.le – A New Solution To Productivity Issues
Posted by Thai Pham on Thu, Feb 11, 2021
Infor Ming.le is a comprehensive platform for social collaboration, business process improvement and contextual analytics. Its innovative social media concept enables an employee to work more effectively as it combines social communication and business processes. The major difference between Infor Ming.le and other information sharing technologies is Ming.le is fully embedded with the organisations main systems, for example, ERP and accounting software.
Blog Topics: Hospitality solutions, Financial Accounting Management Software, Technology trends, Infor SunSystems
Hotels and OTAs: Frenemies, Coexistence, A Marriage of Convenience
Posted by Rick Yvanovich on Wed, Jan 27, 2021
A new study conducted by Expedia Group in partnership with global research firm BVA BDRC examines the contribution of OTAs to the travel and tourism industry, specifically the US market, and reports that hotel bookings via OTAs will continue to rise even after the pandemic12. The study also stated travellers stay more nights, spend more on a property, and generate more revenue for local communities compared to direct hotel bookers.
Blog Topics: Hospitality solutions
How Hotels Can Create New Revenue Streams Amid And Post Pandemic
Posted by Rick Yvanovich on Wed, Jan 20, 2021
Experts estimate it might take more than a year for the hospitality industry to recover from the monstrous effects of COVID-19. Many hotel managers are utilising this downtime to deep clean the entire venue and revise projects that are otherwise impossible to do when hotels are full.
Blog Topics: Hospitality solutions
Are These Common In-Room Amenities Still Relevant In the COVID Era?
Posted by Rick Yvanovich on Thu, Jan 14, 2021
More than just offering a simple bed and breakfast, hotel rooms are evolving and being engineered, one amenity at a time, to meet changing traveller demands.
Blog Topics: Hospitality solutions
Temperature Checks and ID Verification in Contactless Hotel Experience
Posted by Rick Yvanovich on Tue, Jan 12, 2021
Contactless guest experience is the new reality of hospitality. In addition to changes in the front desk, elevators, and guest rooms, there are other areas where contactless technology has proved itself to be indispensable: temperature checks and ID verification.
Blog Topics: Hospitality solutions