New Payments Technologies Expand Hotel Revenue Opportunities

By David Hogan Executive Director of Major Accounts, Heartland Payment Systems | September 23, 2012

With the world shifting to digital and hotel competition increasing daily, hotel owners/operators must adapt on a variety of fronts to increase revenue while meeting or exceeding guest expectations and demands. Nowhere is that more prevalent than in a hotel’s various technology options, from the property management system (PMS) to data security to taking guest payment options beyond the front desk to so much more. Quite simply, revenue management is so closely tied to technology that hotel owners/operators must determine which technology improvements will bring the greatest return on investment.

According to PwC's U.S. Lodging Forecast, lodging demand continues to expand and hoteliers should see moderate economic growth this year. As the industry continues to recover, hoteliers are once again investing in infrastructure, amenities and technology. While each of these components plays a critical role in operations, everyone knows that a hotel’s PMS is the technological foundation that allows hoteliers to profitably enhance the guest experience.

PMS’s allow hoteliers to check past booking patterns and not just sell the right rooms at the right price, but also manage guest portfolios from reservation to checkout. As new and enhanced technologies emerge that upgrade these invaluable systems, it is imperative that hoteliers don’t forget about another crucial aspect of PMS revenue management — data security.

Incorporating security with the hotel’s PMS is essential to revenue management because if guest payment data is breached, it can devastate a hotel’s reputation, and, thus, financial stability. As cybercriminals continue to target payment card data from the hospitality industry, payments-oriented data security upgrades are imperative.

Why Technology Matters

In order to effectively leverage technology to maximize revenue, hoteliers must understand recent developments in hospitality technology. The hospitality industry continues to be one of the most breached industries and payments innovators are continually responding with new ways to thwart cybercriminals. Although most guests do not have data security top of mind when booking a hotel, if their credit or debit card information is compromised after a stay, no matter how beautiful the room or attentive the staff, that is the only thing they will remember. In today’s social media culture, where a bad experience can be shared with not just one’s closest friends and family, but with hundreds and thousands of online connections, hotel owners/operators must be mindful that a confirmed or suspected data breach can have immediate and catastrophic consequences on revenue and damage to their “brand.”

Choose a Social Network!

The social network you are looking for is not available.

Close

Hotel Newswire Headlines Feed  

Robert Allender
Sherri Merbach
Sherry Heyl
Zoe Connolly
Susan Tinnish
Mike Nedeau
Renu Hanegreefs-Snehi
Randa Tukan
Coming up in July 2018...

Hotel Spa: Oasis Unplugged

The driving force in current hotel spa trends is the effort to manage unprecedented levels of stress experienced by their clients. Feeling increasingly overwhelmed by demanding careers and technology overload, people are craving places where they can go to momentarily escape the rigors of their daily lives. As a result, spas are positioning themselves as oases of unplugged human connection, where mindfulness and contemplation activities are becoming increasingly important. One leading hotel spa offers their clients the option to experience their treatments in total silence - no music, no talking, and no advice from the therapist - just pure unadulterated silence. Another leading hotel spa is working with a reputable medical clinic to develop a “digital detox” initiative, in which clients will be encouraged to unplug from their devices and engage in mindfulness activities to alleviate the stresses of excessive technology use. Similarly, other spas are counseling clients to resist allowing technology to monopolize their lives, and to engage in meditation and gratitude exercises in its place. The goal is to provide clients with a warm, inviting and tranquil sanctuary from the outside world, in addition to also providing genuine solutions for better sleep, proper nutrition, stress management and natural self-care. To accomplish this, some spas are incorporating a variety of new approaches - cryotherapy, Himalayan salt therapy and ayurveda treatments are becoming increasingly popular. Other spas are growing their own herbs and performing their treatments in lush outdoor gardens. Some spa therapists are being trained to assess a client's individual movement patterns to determine the most beneficial treatment specifically for them. The July issue of the Hotel Business Review will report on these trends and developments and examine how some hotel spas are integrating them into their operations.