Innovation

📈 Cendyn, a hospitality software company, acquired Knowland, a provider of market intelligence data, enhancing MICE space sales prospecting capabilities. Knowland's intelligence covers over 7,500 hotels in the US and international markets. Cendyn recently included Austin-based Haveli Investments in its investors, alongside Accel-KKR. This acquisition aligns with Cendyn's strategy to "Find, Book, and Grow" group business, integrating Knowland's data with Cendyn's Sales CRM, Proposals, and Grouprev platforms. U.S. Travel Association forecasts business travel to reach 95% of its 2019 peak by 2024, offering Cendyn growth potential.

📱 In the hospitality industry, device monitoring is essential to ensure operational efficiency and guest satisfaction. Real-time device monitoring can pre-empt technical issues like malfunctioning door locks, directly impacting guest experience. It reduces the environmental footprint by tracking energy usage and minimizing battery disposal impact. Proactive maintenance through device monitoring can predict equipment failure and resource optimization, leading to cost savings. Device monitoring is a necessity for maintaining service consistency, meeting ESG goals, and enhancing the overall guest experience, thereby contributing to the competitive advantage of hospitality establishments.

📣 Cloudbeds, based in San Diego, CA, partners with Mirai to enhance hotel bookings and marketing. This strategic collaboration combines Cloudbeds' global hospitality network with Mirai's technology, potentially driving higher revenue for hoteliers. Cloudbeds, founded in 2012, has been honored by Hotel Tech Report and World Travel Awards, and recognized in Deloitte’s Technology Fast 500 in 2023. Mirai, with 25+ years in the industry, serves over 3,900 hotels worldwide, focusing on maximizing direct sales.

📈 Condor Ferries’ stats show 82% of 2018 travel bookings were online. In 2023, 72% of travelers preferred online booking. Statista forecasts that by 2026, online sales will constitute 73% of travel and tourism revenue. Annually, 148.3 million travel reservations are made online. Social media influences 75% of travelers. 90% of travelers are swayed by online reviews, with 95% of those being positive. AI's importance in travel is recognized by 97.8% of executives, with 33% of consumers using virtual travel assistants.

🏖️ Nezasa reveals AI-driven Planner Copilot within TripBuilder to enhance trip planning for travel brands, promising unmatched speed and efficiency. The tool offers a conversational interface and personalizes travel plans based on customer preferences, aiming to increase revenue and conversion rates by integrating design and booking seamlessly. CEO Manuel Hilty emphasizes the value addition to the travel industry through effortless creation and booking of itineraries, and the advantage of integrating with third-party B2C apps.

🏕 Hyatt is expanding in Saudi Arabia with two new hotels in NEOM, set to open in 2027. Park Hyatt Jaumur and Andaz Jaumur Marina will offer a total of 350 luxury rooms and suites in the coastal destination of Magna. Jaumur's 300-berth marina will feature a sculptural landmark and entertainment options, including a deep-sea diving research center. Park Hyatt Jaumur will have 125 keys, while Andaz Jaumur Marina will offer 225 rooms and suites. The properties will join Hyatt's portfolio and World of Hyatt loyalty program, which has over 48 million members.

📆 Encora, a leading technology solutions provider, sponsors the 2024 Hotel Visionary Awards. The 19th annual awards celebrate innovation and leadership in hotel technology. Winners will be honored at the HTF event, Nov. 18-20 at the Terranea Resort, Calif. Hospitality Technology’s VP, Abigail Lorden, aligns Encora's innovation commitment with their goals. Encora's President, Roberto Martinez, sees the partnership as a motivator for industry excellence and collaboration. The event addresses technological evolution in the hospitality customer journey.

💸 In the hospitality industry, engaged workers significantly improve profitability and productivity, with a 50% decrease in turnover risk and 75% reduction in sick days. Major hotel chains like Hilton, Hyatt, and Marriott partner with Great Place to Work, with Encore earning certification for 2022-2023 and 2023-2024. Encore invested over $200 million in two years in benefits, training, and technology. They introduced the U.S.'s first overtime savings program with a matching incentive and launched financial wellness initiatives, including a Seasonal Leave of Absence program, service excellence, and profit-sharing incentives.

💻 Hoteliers face challenges with network connectivity, with outdated infrastructure causing slow speeds and dropped connections. Signal interference from modern materials and security threats from cybercrime add to the issues. Solutions include investing in high-speed, scalable Wi-Fi infrastructure, upgrading to Wi-Fi 6, implementing a strong Ethernet cabling infrastructure, and integrating 5G. Cybersecurity measures are crucial for guest data protection. Managed network services offer scalability and cost benefits, shifting from capital to operational expenses.