6 smart technologies that can increase hotel revenue

Technology has completely changed the way we live our lives and the way we work. This fact holds in the hospitality industry too, which has the current global net worth of 500 billion USD.

The key to using smart technology is to revamp the customer experience and make the services of your hotel more personalized so that each customer feels valued. And it is critical because ensuring customer satisfaction can help you drive your revenues.

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Here are a few ways in which smart technology is revamping the hospitality industry:

1. Front Desk Technology

The hotel concierge is responsible for making sure your hotel guests have a great, problem-free stay. But if you integrate it with AI, you can minimize wait time and increase efficiency in the following ways:

  • Computerized front desk helps in performing check-in and check-out duties
  • It helps in confirming room availability and reservations
  • It automatically integrates the guests’ bills with phone accounting, room service, and other costs
  • Guests can use the hotel’s web application to avail services like room service, restaurant reservations, etc.

2. Hotel Revenue Management System

Using a hotel revenue management system can help you upkeep your hotel’s digital persona in the following ways:

  • Regulate dynamic pricing on various travel sites
  • Maintain and update online reviews of your website
  • Help you stay active on various hotel booking channels

The reason hotel revenue management software is reliable is that it used artificial intelligence to automatically update room rents based on internal factors like occupancy, seasonality, and the booking window. External factors like the frequency of booking, time, and day of the reservation and competition prices are also taken into consideration.

3. Big Data

Within the hospitality segment, big data can help you with patterns associated with consumer behavior and related interactions in the following ways:

  • It can help with your hotel revenue management system by estimating the demand for hotel rooms and the price point associated with them.
  • You can understand what it is about the competition that is drawing your potential hotel guests to them. Is the restaurant that is being praised online? Or is it their extremely polite hotel staff? Big data can help you figure out how your hotel fairs in the same category.
  • You can also use it to improve customer experience by learning about what they like and dislike.

4. AI Chatbots

Chatbots are taking over the hotel industry for one simple reason: the immediacy to which they will address your guest’s queries.

  • Any problems that your guests have about booking a room or even just finding an appropriate room according to their budget on your website can be solved immediately with personal recommendations by chatbots.
  • Chatbots also don’t have a language barrier — an important aspect to consider since guests who are traveling from a different country might have a problem with the local language.
  • If you are investing heavily in making sure that your hotel gets enough website traffic through paid promotions and ads, having chatbots on your website will be a big boon. Chatbots can help visitors that are directed to your website by reducing the bounce rate. They can engage with your guests about any queries that they might have about your hotel and can even result in direct bookings.

5. Live Chats

Live chats are more than just a means of keeping up the right level of communication with your guests — they can be a blessing in disguise. Other than providing excellent on-the-spot customer support, live chats can help with encouraging your potential guests to make direct bookings.

If the guests that are browsing through your hotel’s website have queries about your rooms or the facilities available there, the hotel staff can encourage and help with an instant booking rather than lose touch with the user through the live chat.

6. Feedback Management Platform

A feedback management system platform is very important for hotels since it can help you drive hotel revenue. Moreover, a hotel revenue management system can help you manage your online persona and reviews on various portals.

The hospitality industry is one of the most competitive industries in the world, and using smart technology to enhance your hotel guests’ experience can give you a competitive edge. Smart technology, if used correctly, can help your hotel generate revenue with other great things beyond the finish line: better guest experience, a significant improvement in your hotel’s reputation, and a more effective running business.

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