Innovation

🏡 Grand Hotel Evropa in Prague, originally built in 1872 and redesigned in 1889, reopened as W Prague, introducing W Hotels to the Czech Republic. The hotel changed hands multiple times, with Prague Prime Home Management acquiring it in 2016 from entrepreneur Václav Skala. W Prague features 161 rooms, including 23 suites, a W Lounge, rooftop bar, and spa. The new nine-story wing was designed by DAM, featuring a magical garden theme and connecting to the heritage building.

💻 Revenue Managers can theoretically work remotely, leveraging technology for 95% of tasks and tapping into global talent. However, working on-site provides control over product management and competitor data, offering a different perspective than remote work. Both on-site and remote work have their own advantages and challenges.

🌳 MyMatR, launched to serve various industries including hospitality, utilizes AI and computer vision for effective waste sorting and has been deployed since May 2024. It increases diversion rates, reduces landfill waste, saves costs, and enhances guest engagement by educating and involving them in sustainability efforts. MyMatR also aids hotels in complying with environmental regulations and has expanded internationally with projects like the composting program in Research Triangle Park and deployments in Saudi Arabia. The technology supports HRS’s Green Stay initiative, positioning MyMatR as an essential element in hotel waste management strategies and future hospitality technology.

🎁 80% of gift card sales are still physical, with retail displays accounting for about half. Givex’s 2024 survey reveals credit card gift cards are the top choice at 70%, a 6% increase from the previous year; restaurant gift cards follow at 46%. Inflation is a significant factor for 70% of consumers this holiday season, with an average spend of $136 on gift cards. From Black Friday to Christmas Eve 2023, gift card value sold rose by 12.36%, and quantity increased by 8.85%, representing 39% of annual sales. Digital gift cards grow in popularity, and gift cards now enhance customer engagement and promote loyalty-like behaviors. Givex ensures compatibility with major POS systems and payment terminals for easy integration.

💾 Seda Hotels, part of Ayala Land Inc. in the Philippines, implements Shiji's Infrasys Cloud POS across its 13 locations to enhance F&B guest experience, announced on December 10, 2024, in Singapore. The cloud POS solution offers centralized management, report consolidation, and seamless third-party integration for operational efficiency. Julius Buen, Group IT Manager, emphasizes improved F&B efficiency and guest service. Shiji, founded in 1998, now has over 5,000 employees, assisting 91,000 hotels and 200,000 restaurants globally.

📈 In the 1990s, companies began to deeply analyze consumer wants and needs for product development. AI has significantly impacted marketing by efficiently mining data for consumer insights. In Europe and Australia, consumer data protection is strong, while the U.S. views it more commercially. AI aids in precise customer identification, crucial for luxury brands. Ethical challenges arise, like price manipulation and retargeting issues in digital marketing. Opportunities exist for skills in AI-generated profiling, content creation, and blockchain technology. AI-driven marketing tools are advancing, promising better targeting, content creation, and personalized brand interactions.