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After ninety minutes of intensive debate and discussion, all agreed that change is driving hotels across all revenue and commercial functions at hotels, and will do so as far as the eye can see – with innovation the key to accelerated future progress.


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Revenue management in restaurants


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©2019 Integrated Decisions & Systems, Inc. (IDeaS - A SAS COMPA


On the restaurant front, more big brands are investing in technology companies and evolving into tech-enabled businesses themselves to help streamline their operations, open new revenue channels and ensure maximum profitability through the till. For example, McDonald’s acquired Israeli


AI start-up Dynamic Yield, with its specialisation in personalisation and decision logic technology after trials at sites in the US. It then invested in New Zealand app developer Plexure to enhance customer interaction capabilities. Philipp Laqué is managing director of


Revenue Management Solutions (RMS), which increases margins for restaurants using patented PoS data analysis, customer insights and tech-enabled services that optimise pricing, menu, marketing and financial reporting. He says restaurant operators should be focusing on building a strong data and digital strategy to start futureproofing their businesses. “By capturing more data from existing


customers, it is possible to drive greater loyalty by strengthening the relationship through a more targeted and personalised marketing strategy,” he explains. “The more data an operator has, the


more valuable it is. In other words, it must go further than just capturing an email address. By capturing customer data through implementation of loyalty programmes and advanced EPoS systems, operators can take the guesswork out of menu pricing. With the correct leverage, bill data can answer specific questions, such as who comes in, when, how much they spend and which items they are more likely to buy together.” For Laqué, the big question is, will the


“With two billion additional people expected to have the means to travel in the next 15 years, the number of hotels that will need revenue science will


larly face – particularly with meeting spaces – starting with the lack of visibility of good data. “The data is not held in the PMS so they may not have access to information about the num- ber of enquiries, the value of each enquiry, lead time, conversion of enquiries and so on,” she explains. “Patterns are very different to room reservations and data is not always tracked or is outside of the revenue manager’s remit.” The worst-case scenario is that the revenue


management focus is on rooms and the sales focus is on meeting spaces, meaning that there are two different heads of department, two different systems, two different budgets and a very manual process.


dramatically increase” Klaus Kohlmayr, IDeaS


www.thecaterer.com


Another challenge is KPIs. “In rooms the KPIs are established and industry wide (aver- age daily rate, occupancy, revenue per avail- able room). But once we move into MICE [meetings, incentives, conferences and exhi- bitions], things become more complicated,” she says. “How is occupancy measured: per day or per part of day? How do we measure


Technology Prospectus 2020 | 15


tech investment trend continue? He certainly believes it will. “In addition, more brands, big and small, will be looking to acquire technical skills and digital knowhow to continue leveraging data from loyalty schemes and EPoS data to gain insights into consumer behaviours and buying preferences,” he predicts. “In a move away from the one-size-fits-


all approach, more operators will learn how to tailor offers using digital data to engage more with consumers and make marketing more meaningful. There is currently a high dependence on deals and promotional offers among restaurant operators, especially in casual dining, where offers account for around 40% of visits, according to NPD Crest data. This isn’t sustainable over the longer term and we expect to see operators become more sophisticated, with clever, targeted communication about their brand value.”





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