Innovation

💻 A study by Hospitality Technology found 68% of hoteliers see digital transformation as essential for growth. Unplanned downtime costs average $5,600 per minute, with hospitality breaches reaching $3.86 million per incident. By 2025, IDC predicts 80% of hospitality businesses will use cloud-based systems. 76% of hoteliers intend to invest more in integrations, and frequent software deployments are linked to a 40% higher likelihood of achieving business goals. Mews deployed 150 product releases in 2023.

💸 IDeaS G3 RMS Certified User credential introduced in 2021 for users with six months of IDeaS G3 RMS experience. The certification process, no longer requiring proctored exams or three-year renewals, involves a 110-minute exam within a 24-hour period. Benefits for certified individuals and companies include maximizing system value, validating expertise, proving credibility, efficiency improvement, problem-solving enhancement, data-driven decision-making, and recognition. IDeaS offers ongoing learning opportunities to stay current with evolving revenue management practices. Ready to stand out in revenue management? Embrace the IDeaS G3 RMS certification.

📊 Enterprise applications are on the cusp of a profound transformation, with expectations that by next year, agentic systems will substantially alter organizational applications and operations. These systems, deploying hundreds or thousands of agents, aim to automate enterprise processes to a degree that could reduce the human workforce needed for common business tasks by 90%. This shift is anticipated to significantly impact productivity, similar to the mass production revolution. The change is projected to evolve over the next five to ten years, radically improving productivity through AI-native processes that will challenge businesses to adapt or risk being disrupted.

🏡 Red Roof held its 2024 Brand Conference, revealing a new hotel prototype, partnerships, and team expansion. The company, with a 51-year history, recently surpassed 700 hotels. President Zack Gharib introduced the new 80-room, scalable prototype with development costs of $84,000-$105,000 per key, excluding land. A focus on cost and aggressive expansion includes 35 pipeline hotels and 15 projected openings by year-end across Red Roof Inn, Red Roof Plus+, The Red Collection, and HomeTowne Studios. Partnerships with Sojern and integration of HotelKey's management system aim to enhance guest experience. Leadership team strengthened with CFO Tara Henderson and general counsel Gerrod Bede.

📊 Aimbridge Hospitality in Plano, Texas introduced Aimbridge Intelligence, a data reporting platform offering transparency and collaborative tools for owners. The technology, part of OwnView portal, allows near real-time access to STR performance, RevPAR Index, profitability, guest service, and turnover data. CEO Craig S. Smith emphasized their commitment to being a trusted hotel operator, with CIO Keryn McNamara highlighting the platform’s groundbreaking data product and its future AI and machine learning integrations for demand forecasting.

📊 Cloudbeds Insights, a hospitality-focused business intelligence (BI) solution, addresses the inefficiencies of generic BI tools. It is integrated into the property management system for real-time data access, custom reports, and multi-property performance analysis. Jackson Chin, Senior Product Manager at Cloudbeds, highlights the in-house development and robust data strategy of Cloudbeds Insights that prioritizes hotelier needs. Features include open API, customizable dashboards, collaborative capabilities without per-user pricing, and native multi-property reporting, making it a unique offering for hotel management.

📌 easyHotel to open a new low-carbon hotel in Ferney-Voltaire, France, near Geneva, in early 2027. The hotel will have 141 rooms, offer continental breakfast, and provide parking for 60 cars with EV charging. It's financed by a €8.6 million loan from BRED Banque Populaire, adding to a previous €6.75 million for a Marseille property. This expansion includes six new properties in Europe. Alila Shanghai opens in Shanghai's Jing'an, featuring 189 rooms and a 2,626-square-foot penthouse. IHG's Vignette Collection debuts in Egypt with a 140-room hotel in Port Said, opening December 2027. Pan Pacific Hotels Group expands in Bangkok, managing Pan Pacific Siam Bangkok, a 220-room hotel set to open by 2027 after retrofitting an office building.

💸 Cendyn, a hospitality cloud-based tech firm, acquired Knowland, a leading U.S. meetings/events data service provider. Knowland's intelligence covers over 7,500 hotels in the USA and some international markets. The deal, supported by Haveli Investments and Accel-KKR, aims to boost MICE bookings and streamline sales. The acquisition pairs Knowland's data with Cendyn's Sales CRM, Proposals, and Grouprev platforms, promising a complete booking solution for hoteliers. U.S. Travel Association forecasts business travel to regain 95% of its 2019 level by 2024, aligning with Cendyn's growth strategy.

🏢 Cendyn, a hospitality cloud-based technology company, acquired US-based Knowland, a leader in meetings and events intelligence. Knowland offers data from over 7,500 US hotels and select international markets, enhancing hotel sales prospecting and group bookings. Earlier this year, Cendyn welcomed Haveli Investments, focusing on technology firms, to its private equity portfolio. The acquisition promises innovation for the hospitality industry, uniting Knowland's data with Cendyn's Sales CRM, Proposals, and Grouprev platforms. US Travel Association predicts business travel will reach 95% of its 2019 peak by 2024.

🏡 In Columbus, Ohio, Red Roof President Zack Gharib addressed over 1,000 franchisees, team members, and partners about growth plans, including a new hotel prototype prioritizing economical development and franchisee efficiencies. The 80-room prototype features a modern design, interior corridors, and scalable options. New partnerships, like the one with Sojern, aim to enhance guest experiences using data and AI, alongside the integration of the HotelKey system for improved operations. Leadership additions include CFO Tara Henderson and General Counsel Gerrod Bede, highlighting a deeper focus on company culture and brand consistency.