Recent TRG blog posts

The importance of revenue optimisation or revenue management in the hotel industry cannot be overstated due to its critical importance to the Hotel's bottom line. Revenue optimisation is being able to sell the right room to the right guest, at the right price and at the right time. It requires plenty of actionable information on time, which is so often unattainable. 

Countless businesses are impacted by COVID-19 around the world. If your business is in the hospitality industry, then chances are your damage is more severe than most. With the restrictions being slowly lifted, many hotel businesses still don’t find themselves fitting in with the “new normal.”

This begs the questions: what really is the new normal for the hotel industry? What are the challenges ahead? And which actions have leading hoteliers taken?

The number of confirmed COVID-19 cases globally are gradually declining. However, this is not the time to celebrate; until a viable cure is developed, preventative measures should continue to be carried out diligently. 

It is easy to see why the hospitality industry receives the heaviest blow from the COVID-19 pandemic. Flights cancelled, countries locked down, public transportation, and ride-sharing services suspended. Hotels, travel agencies, restaurants and many service providers are forced to halt operations to ensure the health safety for the general public. 

Hospitality faces unique challenges and has specific requirements, making conventional accounting systems unfit for this industry.  

Hotel businesses are more than just the lodging services they provide to tourists; they need an asset manager to look after and fully exploit the potential of the property on behalf of the owner. In other words, asset managers are the ones who maintain the balance between the hotel staff, operations, and owners.  

According to Hospitality Technology’s “2016 Lodging Technology Study,” 62% of surveyed hoteliers use business intelligence (BI) tools and another 16% will add them within 18 months. Armed with the right information, today’s decision-makers can better understand risk, performance, and the impact of decisions at property, region and group levels. But how exactly can hotels achieve competitive advantages with business intelligence?

In their pursuit to meet the ever-rising expectation of travellers, the hospitality industry is increasingly adopting new IT technologies. Some daring brands even venture into the realm of Artificial Intelligence and the Internet of Things to quench the thirst for a "truly unique guest experience." Nevertheless, none of the "next-gen solutions" out there would work without an agile yet robust IT infrastructure. This is where managed IT services come into play. 

Selecting the right Property Management System (PMS) for your hotel business - one that can enhance guest experience, cut costs, and maximise revenue - is not at all easy. The rapid adoption of cloud PMS only makes this an even more challenging undertaking. That isn't to say that it is impossible, and TRG is here to help.

Nearly half of all online hotel bookings worldwide are preceded by a click on a mobile device. 94% of travellers utilise a combination of mobile, tablet, and desktop when planning their trips. The most astounding fact of all is nearly 80% of last-minute bookings are done via mobile¹. It is therefore inevitable for hotels to adopt a mobile-first, cloud-first approach.