Why On-The-Go Financial Technology is Critical for Today's Hotelier

By Scott Watson Executive Vice President of Sales & Marketing, M3 Accounting + Analytics | January 06, 2019

Co-authored by Casi Johnson Chief Operations Officer& Innovations Leader, M3 Accounting + Analytics

Today's hotelier is constantly on the go-boarding planes and hailing Ubers-all while trying to keep tabs on multiple properties at once and make critical business decisions that drive financial performance for the brand as a whole. With the upswing of development and competition in the industry and rising demands from potential guests and online travel agencies, hotel operators are being asked to deliver bigger, better data faster-without the increase in personnel and resources they need. The same struggle applies when it comes to managing property finances and business accounts.

To navigate this balancing act, it is critical to adopt a mobile solution that's designed like a "Fitbit" for hoteliers to track performance and improve financial health on-the-fly. The benefits of replacing physical logbooks and outdated radios with mobile devices are innumerable.

For starters, here are four of the top assets that make mobile technology a no-brainer for today's hotel business leaders:

Guest Personalization

Ultimately, the end goal of a successful mobile strategy should be improving the customer experience, from check-in to checkout. Anyone who has recently stayed in a branded hotel has likely had the option to avoid all human interaction, if desired. Mobile check-in has become the norm, complete with room maps that allow potential guests to select their preferred room before they arrive. 

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Coming up in April 2019...

Guest Service: A Culture of YES

In a recent global consumers report, 97% of the participants said that customer service is a major factor in their loyalty to a brand, and 76% said they view customer service as the true test of how much a company values them. And since there is no industry more reliant on customer satisfaction than the hotel industry, managers must be unrelenting in their determination to hire, train and empower the very best people, and to create a culture of exceptional customer service within their organization. Of course, this begins with hiring the right people. There are people who are naturally service-oriented; people who are warm, empathetic, enthusiastic, pleasant, thoughtful and optimistic; people who take pride in their ability to solve problems for the hotel guests they are serving. Then, those same employees must be empowered to solve problems using their own judgment, without having to track down a manager to do it. This is how seamless problem solving and conflict resolution are achieved in guest service. This willingness to empower employees is part of creating a Culture of Yes within an organization.  The goal is to create an environment in which everyone is striving to say “Yes”, rather than figuring out ways to say, “No”. It is essential that this attitude be instilled in all frontline, customer-facing, employees. Finally, in order to ensure that the hotel can generate a consistent level of performance across a wide variety of situations, management must also put in place well-defined systems and standards, and then educate their employees about them. Every employee must be aware of and responsible for every standard that applies in their department. The April issue of the Hotel Business Review will document what some leading hotels are doing to cultivate and manage guest satisfaction in their operations.