Hoteliers Need to Harness the Power of AI and Automation
We are in a new unprecedented time where we’ve seen hotels close temporarily or manage with limited staff. While industry experts acknowledge that the hospitality industry will have a slow but steady recovery, doing more with less has become critical to survival. But how can hoteliers do more with less and have the confidence they are making the right decisions in this ever-evolving time of Covid-19?
Hoteliers need to have their finger on the pulse of what’s going on with their book of business, but also stay up to date with industry trends and adapt to their market needs. Best-in-class hoteliers, both big and small, use AI and automation tools to help analyze and parse massive amounts of data generated daily across systems, glean valuable insights and take the appropriate actions to best position themselves in the recovery curve.
Max Starkov, Adjunct Professor NYU Tisch Center for Hospitality and Technology has stated that “hoteliers need to embrace, learn about, and invest in the nextgen technologies that are already making their way into hospitality, including Artificial Intelligence (AI) [...] and Automation”.
Valuable real-time business and market insights
Hoteliers need to be able to effectively analyze and process massive data sets on the industry, their market, and their properties to stay up to date and take the necessary actions for their business. The most effective way is by leveraging an information management system (IMS) and back office automation platform powered by AI.
A modern IMS will employ automation wherever possible and constantly improve its AI capabilities, processing your data with smart, simple connectivity and efficiency. It will automatically collect and analyze data from all the disparate systems your hotels utilize and provide an all-in-one business visualization dashboard, saving your staff valuable time and minimizing human error. Hoteliers in these modern systems should be able to easily integrate more than hundreds of hotel systems to the platform. These integrations and automation allow hoteliers to visualize data based insights easily and in real-time, allowing them to adapt to the market at hand and best position their business.
It’s critical for hoteliers to have their finger on the pulse of their market and industry now when things can change at any minute. Reacting quickly and being able to adapt is a must for survival. Looking back is great but you also must be able to look forward. Hoteliers ought to be able to identify and leverage forward-looking, aggregated, and hotel and market-level bookings pace and performance metrics, to helps eliminate hours of manual data
manipulation and analysis to visualize market recovery in real time.
An IMS powered by AI and automation can deliver the right insights in real time and automate manual low-touch tasks. It puts hoteliers in a position of power and gives them the ability to make the right strategic decisions that impact all levels of their business and better serve their guests.
