The world is changing at an unprecedented pace, and so is our industry. Old ways of thinking and legacy technologies no longer produce the exceptional results needed and expected by today’s dynamic hotel organizations.
Whether dealing with unexpected demand shifts, ongoing staff shortages or increased competition, today’s hoteliers need to build a high level of agility into their operations to be able to adapt as quickly as possible to rapidly changing conditions. This means having the relevant data and tools necessary to make informed decisions at a moment’s notice—before the chance to respond to evolving market conditions is lost. Unfortunately, many of today’s solutions are simply not up to the task.
But why is this the case? The main reason the industry has fallen behind is that the vast majority of legacy hotel technologies were designed with a focus on performing a specialized function for a specific department of the property or business. This has led to the creation of data silos within organizations, as well as conflicting account data. In today’s industry climate, hoteliers need more advanced solutions that seamlessly integrate and share information between all stakeholders in real time. To gain and keep a competitive edge, they require robust and intelligent technologies that can connect all the dots and help them understand the true value of each account, as well as each guest.
In this blog, we’ll explore how to achieve this enhanced business agility—and how Thynk.Cloud is helping the industry to Re:Thynk technology’s role in solving some of its greatest challenges.
So, why are data silos so dangerous, anyway?
A recent survey showed that 60 percent of business leaders identify organizational data silos as the biggest impediment to effective decision-making. Within hospitality, a lack of access to centralized, complete and accurate data can mean lost opportunities and profits. It also provides competing properties and groups with a chance to increase their market share, if they are better equipped to promote and sell more effectively. With the new construction segment of the hotel industry up by 9% in the first quarter of 2023 and expected to continue to grow, the need for centralized and updated data access has never been as important.
Big Data to the rescue: but is bigger better?
Access to big data and analytics has fundamentally changed sales and marketing practices across the board, according to 50 percent of businesses. But is it the size of the data that matters – or rather, how and where it’s being used? With hotels needing to tailor their offerings to the needs of each account and guest segment, core Hotel CRM systems that can provide actionable data at the appropriate times in the sales cycle and to the right department or staff member are proving much more valuable.
But regardless of department, today’s hotel employees are stretched thin and typically don’t have sufficient time to gather, analyze and act upon data before the window of opportunity closes. Fortunately, automated technologies are capable of sifting through a massive amount of data generated by hotel accounts and guests and ensuring its accuracy, allowing teams to focus their efforts on the core hospitality offering, instead of wasting valuable time on manual data research.
Automated data intelligence for the win
With fewer employees and tighter budgets, much of the hospitality industry is embracing the advantages that technology automation can bring to their operations. In fact, 50 percent of businesses plan to deploy automated technologies over the next two to three years. In hotel sales and marketing teams, speed is particularly essential. Hoteliers who stick to manual workflows and processes risk losing out on business to competitors who are adaptive and able to respond more swiftly. For this reason, the hospitality industry is rapidly transitioning towards the adoption of automated sales and marketing technologies. Currently, 72 percent of successful businesses leverage workflow automation to manage sales and marketing operations.
By combining enhanced data intelligence with the power of automation, today’s hoteliers can guarantee their ability to perform outreach to the right accounts and groups at the right time and with the right offer—maximizing the likelihood of earning their business and increasing revenue, while delivering an experience that ensures satisfaction and encourages loyalty.
Is it time to Re:Thynk your sales & marketing technology?
With the rise of new challenges and opportunities, today’s hoteliers need relevant data and tools to make informed decisions—now more than ever before. That’s why we’re excited to be at the forefront of technology solutions that help hotels tear down data silos, harness the power of big data, and automate their sales and marketing operations.
We understand that legacy technologies no longer produce the results needed by modern hoteliers, and that’s why we are committed to developing modern, more advanced solutions that are capable of seamlessly integrating and sharing information to provide a holistic view of the guest experience.
At Thynk.cloud, we believe that by providing hoteliers with the right tools and insights, they can create memorable experiences that exceed guest expectations and drive loyalty. We are proud to be Re:Thynking technology’s role in the hospitality industry and look forward to continuing to empower hotels to thrive in today’s ever-changing landscape.