Don’t wait for CapEX funds to be available to improve your audiovisual offering; Hoteliers can transition the expense of building/improving AV services from CapEx to OpEx, plus add SaaS to manage self-operating AV to generate more revenue from this investment
[Gaithersburg, Md.—October 15, 2019]— AVaStar has teamed with industry funding sources to enable hoteliers to purchase or upgrade Event Technologies (ET) that meet rapidly evolving customer expectations on attractive capital or operating lease terms. Operators needing to become more profitable can now implement new, state-of-the-art equipment and automatically implement best practices and effective resource management via AVaStar software, the hospitality industry’s first subscription support program for self-operating audiovisual/event technology services. Pairing the latest event technologies with the AVaStar software-as-a-service platform will result in improved economic performance and increased customer satisfaction virtually from day one.
“For nearly 30 years it’s been the same old story; hoteliers say they desperately need newer and better AV technologies but are concerned about spending scarce CapEx funds on technology that they fear will be obsolete before the check clears,” said AVaStar President Jeff Loether. “That’s a real shame considering that meeting planners are relying on AV technologies to enhance their events, and attendees are demanding it to keep them engaged. Sources say event technology can increase event attendance by 20%, productivity by 27%, and decrease costs by up to 30%. Further, today’s technologies have demonstrated a longer useful life than has been the case in the past, building superior returns. Rather than struggle to provide services with outdated and inadequate equipment – or drive up operational costs by re-renting needed equipment on a case-by-case basis – AVaStar is making flexible financing available to those in need. Before finalizing their 2020 budgets this month, we want hoteliers to know that help is just a phone call away.”
AVaStar’s new financing package is designed for:
- Properties needing to purchase portable equipment not budgeted in the development costs
- Hotels needing to install ET in the meeting and public spaces to meet customer expectations while reducing labor and other costs
- Hotels with outdated inventory and/or problematic equipment
- Hotels with limited or no inventory who rely on a third-party provider for AV services even though they would rather do it themselves.
“This new financing mechanism will allow hotel operators to transition the expense of building or improving AV services from CapEx to OpEx, giving them greater control,” Loether said. “Without a technology refresh/upgrade they will continue to lose revenue to outsourced providers and lose meetings business to their competitors. Owning the right equipment, and self-managing the AV operation means more control over the guest experience and significantly higher profit margins. Taking control becomes an even greater imperative when one looks at the latest economic outlook for 2020.”
Optimize Outcome and Maximize Your Return with AVaStar
With AVaStar, hoteliers can chart a course for the future by self-managing their audiovisual services. This leading-edge solution is designed to automate best practices for hotel staff who find themselves tasked with managing event technology with sticky notes, whiteboards and spreadsheets which invites service errors.
AVaStar is ideal for any facility that provides, or would like to provide, audiovisual services with their own resources and staff. By self-operating, hoteliers maintain more control over their customer experience while retaining 100% of AV revenues. (To learn more about what AVaStar can do for you go to www.avastar.io)
“For decades there have been two persistent challenges for hotel operators: (1) how to develop better value propositions for their owners, and (2), how to maximize yield from their meeting space and associated technology and services, particularly in facilities that self-manage (or would prefer to self-manage) these services,” said Eric Bracht, AvaStar Managing Director. “To overcome these challenges, we developed AVaStar. As a subscription solution, AVaStar is profitable from day one. By making AV operations more efficient and better managed, we are increasing customer satisfaction scores.”
AVaStar pays for itself and sends more money to the bottom line by giving hoteliers the tools, resources, knowledge, support and training they need to provide the most requested AV services on a day-to-day basis and only using outside support when needed. When outside support is required, AVaStar gives hotel leadership the tools to measure AV service delivery metrics, identify gaps and opportunities, and better manage services to drive revenues and profits. It’s a new solution to an old problem, and it’s a technology that needs to be part of a hotel’s 2020 OpEx budget.