Arch Amenities Group Introduces Wage Insights, a Tool That Provides Salary and Wage Benchmarking Data for Hotels and Wellness Centers
Arch Amenities Group | May 9, 2023
ROCKVILLE, Maryland (May 9, 2023) – Arch Amenities Group, a full-service, global provider of wellness, amenity management and meeting services for commercial and residential properties, hotels, private clubs and pools, today announced the launch of its proprietary survey and salary benchmarking tool, Wage Insightssm. Wage Insights obtains and leverages data across the hospitality and wellness sectors to enable hotels and wellness centers to better formulate their employee compensation and growth strategies. Barry Goldstein, Arch Amenities Group chief executive officer, called the Wage Insights survey and reporting tools “some of the...
Financial Future Is Bright at the NOUN Hotel
Aptech Computer Systems Inc. | February 15, 2023
Gameday or weekdays its ‘Aptech All the Way’ for the newest boutique hotel in Norman adjacent to the University of Oklahoma PITTSBURGH, February 15, 2023 — When the NOUN Hotel in Norman, Okla., recently opened adjacent to the University of Oklahoma campus, PVNG by Aptech was there to power its Accounts Payable, Accounts Receivable, General Ledger, Statistics, Financials, and Bank Reconciliation processes. Choosing a financial management solution for a new hotel can be a daunting task, but for management of the NOUN the choice was easy due Aptech’s user-friendliness and exceptional support. “Opening a new hotel comes with plent...
LodgIQ™ Appoints David Millili as Chief Executive Officer
LodgIQ | October 12, 2022
Hotel tech executive brings hands-on market knowledge and a strong track record to accelerate LodgIQ’s strong momentum and lead the company into the future Silicon Valley, CA (October 12, 2022) – Silicon Valley-based LodgIQ™, the award-winning global revenue management technology provider that uses advancing machine learning models and AI to deliver intelligent market insights, forecasting, and dynamic pricing, today announced hotel industry leader David Millili as the company’s new CEO. Voted one of the 100 Most Powerful People in USA Hospitality, David brings almost three decades of acclaimed leadership experience in all aspec...
Over Half of Large-Company CEOs Agree That Reducing Business Travel Will Lead to Long-Term Losses
U.S. Travel Association | June 29, 2022
Quarterly Business Travel Index shows positive Q3 outlook, but headwinds persist Federal policies to spur business travel recovery are on the table WASHINGTON (June 29, 2022)—Key findings from a new survey reveal over half of large-company executives agree that reducing business travel may represent short-term savings but will bring long-term negative impacts on revenue. The survey is part of the Quarterly Business Travel Tracker, launched in April in a collaboration between U.S. Travel Association, J.D. Power and Tourism Economics. Despite agreement that reducing business travel will be harmful to long-term sales, more than two-th...
Amadeus Launches New Market Forecast Capability to Help Hoteliers Accurately Track Revenue and Manage Costs
Amadeus | June 29, 2022
The enhancement to Amadeus’ RevenueStrategy360TM business intelligence solution is the first of its kind, utilizing historical seasonality and trends alongside the industry’s broadest coverage of forward looking, on-the-books market insights to enable more accurate forecasting. Refreshed daily, the forecasting capability allows hoteliers to gain the most accurate picture of market conditions to power more effective revenue management strategies and differentiate their offer. The hospitality industry has faced over two years of uncertainty and volatility. Hotel teams and revenue managers are operating in challenging times, having...
Until the Dust Settles, Zero-Based Budgeting Is Indispensable
HotStats | June 27, 2022
Some forecasts make sense. George Carlin once astutely predicted the night’s weather: dark. On the other hand, handicapping the future—especially the economy—is a fool’s errand. Here’s what Jamie Dimon once said about it: “No one can forecast the economy with certainty.” If the CEO of JPMorgan Chase can’t do it, good luck to anyone else. His comment rings more true than ever. COVID-19 cast the hotel industry into a free fall and just as the global recovery began to germinate, along came inflation, supply-chain distress, labour shortages, exploding energy and fuel costs and a host of other severe issues that make running a h...
IDeaS RevPlan Total Revenue Forecasting Module to Be Piloted by Loews Hotels & Co
IDeaS | April 6, 2022
Hotel brand embarks on a journey beyond rooms revenue management toward total profit optimization with IDeaS MINNEAPOLIS—April 6, 2022—IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today Loews Hotels & Co will pilot the total revenue forecasting module in IDeaS RevPlan, a cloud-based tool that streamlines forecasting and budgeting processes for rooms, food and beverage, and other income. Loews has already successfully leveraged RevPlan’s automated financial forecasting capabilities for guest rooms, gaining significant time savings across its portfolio. The...
It’s Time for Hotel Finance Teams to Re-Evaluate Their Budget ‘Drivers’
Jill Wilder | September 14, 2021
By Jill Wilder As we are all aware, budgeting for 2022 will present some challenges, without a crystal ball we are going to need to use our knowledge to form new ways to plan for our future. While historical drivers helped hoteliers in previous years with their future planning, it’s a whole new ballgame today, as the very way a hotel operates is radically different from even a year ago. As in the past, just comparing departmental profits from previous months is just one piece of the puzzle. To have better, more accurate budgeting numbers for the year ahead, hoteliers need to re-evaluate their drivers and establish a new baseline data set...
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