The "old" Thomas Cook, a 179-year-old company and the second largest tour operator in the world after TUI, collapsed in September of 2019. Fosun Tourism Group, a Chinese travel conglomerate that already owned the famed Club Med, bought the rights to the bankrupt company's brand for $14 million.
Bed banks are specialized B2B platforms that contract supply from hotels and accommodations providers and make it available to travel sellers that aggregate travel demand from a variety of sources (smaller OTAs, traditional travel agents, airlines, or tour operators.
COVID-19 has exposed many of the weaknesses in our industry in terms of risk and hazard management, contingency, and resiliency plans but also in the way we blindly deal with our environment. Crises, as damaging as they may be, trigger opportunities in product, service, and systems innovations.
In this viewpoint, we asked 10 leading PMS providers to share their views and thoughts on how PMS will change in the post-COVID era.
By the end of 2019, many of the thought leaders in revenue management had begun echoing a common theme, basically that the Revenue Management discipline was stuck in a rut. Industry-wide, Total Hotel Revenue Management was starting the become a joke.
For obvious reasons, Hospitality Financial and Technology Professionals (HFTP®) announced last week that this year's HITEC will pivot to a virtual edition called "Cyber HITEC." I guess most of you have been participating and attending in a variety of online event formats over the past 3 months.
The Current COVID-19 crisis has put incredible strains on hotel owners, operators and managers. Steps to alleviate the current pain points are well noted - fee reductions/deferrals, closing of properties, reduced staffing and services - but these are likely not sustainable over a long period.
The prominence of the housekeeping function has seen a revival in recent years. While its contribution was underappreciated for many decades, there has been a recent awakening to the department's significant impact on shaping the guest experience and the positive impact a well-managed team can have on the hotel's bottom line.
Travel suppliers - hotels and airlines - have experimented for years with a supplier-owned online travel agency (OTA) to combat their over-dependency on the mega OTAs like Booking Holdings and Expedia Group.
Over the past 20 years, the hospitality industry has experienced a continuous increase in various 'stamps of approval', especially at the sustainable front. A few large certification bodies with extensive criteria catalogues dominate the market but hoteliers and consumers alike are still struggling to differentiate the reputable and credible ones from the home-made seals of approval.
Hospitality Net's World Panel is a thought-leadership platform where hospitality-industry opinion leaders share insights, views, ideas and reactions on important issues and events currently affecting the hospitality business. Each panel is made up of a select group of experts, and industry leaders who, by invitation, contribute succinct commentary on viewpoints which are suggested by panel-champs.
