Take the Survey: Hospitality Revenue Management
Posted December 2nd, 2017
The 2018 Smart Decision Guide to Hospitality Revenue Management, revised, expanded and updated from this year’s edition, and again underwritten by the leading revenue management solution providers (Duetto, IDeaS, Infor, Rainmaker and RateGain), publishes at the end of next month. The new research and analysis will focus on how top-performing hotels and resorts are utilizing revenue management strategies and next-generation technology solutions to drive continuous improvement in occupancy, ADR and RevPAR. The tools that enable revenue management have evolved rapidly in recent years. Today, a state-of-the-art solution is capable of generating tens of thousands of optimal pricing and overbooking recommendations each day based on real-time analysis of all relevant data. The best of these solutions make it possible to fully automate the decision-making process, adding revenue and profits from not only guest rooms but from all parts of the hotel property to the balance sheet. Click here to take the survey that serves as the basis for the new research.
Spotlight on Restaurant Operators: Challenges and Opportunities
Posted November 14th, 2017
The latest industry research paints a lackluster picture of restaurant sales growth and revenue performance. According to the National Restaurant Association, restaurant sales in the United States are expected to have increased (after adjusting for inflation) by only 1.7 percent this year. This is well below historical standards. Many restaurant operators are grappling with rising overhead costs — due, in part, to higher real estate prices and increased labor costs stemming from recent wage legislation. At the same time, the average number of visits people are making to restaurants, particularly casual dining and fast food establishments, has fallen by more than 10 percent.
All of which suggests that the industry will remain ever-so competitive. It’s no wonder, then, that so many operators are turning their attention to new business initiatives, many of them technology-enabled, aimed at improving financial performance.
Spotlight on Hoteliers: Challenges and Opportunities
Posted October 17th, 2017
These are heady times for hoteliers, many of whom have plenty of reason to celebrate. The latest industry reports paint a rosy picture of overall hotel performance as properties in many parts of the world achieve record-breaking occupancy and revenues. In the United States, for instance, hotel revenues reached almost $200 billion in 2016. That is an increase of nearly $10 billion over 2015, according to estimates, with net profits in the range of $76 billion, an average 2 percent increase in RevPAR.
Not to put a damper on the celebration, but hoteliers should recognize that the current growth wave may not continue for long. In fact, the party may already be fizzling. Net profits for U.S. hotels rose only 4 percent last year, the lowest rate since 2009. Negative RevPAR growth is not beyond the realm of possibility. Hoteliers should be prepared for this eventuality.
Take the Survey: Best Practices in Application Performance Management
Posted September 29th, 2017
The 2018 Benchmark Report on Application Performance Management, revised, expanded and updated from this year’s edition, publishes in January. The new research and analysis will focus on how top-performing companies are using next-generation application performance management to speed the development of new applications, optimize the performance of existing applications, and improve customer satisfaction and employee productivity. Click here to take the survey that serves as the basis for the new research.
New Starfleet Media eZines to Showcase Starfleet Research Publications
Posted August 31st, 2017
Starfleet Media has announced the “soft launch” of industry-specific resources in two of our primary IT market research coverage areas: namely, hotels and restaurants. Aptly titled Hotel Technology News and Restaurant Technology News, these new resources will serve as premier sources of information and insights related to technology innovation at the world’s leading hotels and restaurants, respectively, and will highlight Starfleet Research’s related research findings.
New Smart Decision Guide Will Detail the Benefits of Next-Generation Retail Management Systems
Posted July 16th, 2017
Upgrades to retail management and POS systems are today at a historically high level. In fact, according to research conducted for The 2018 Smart Decision Guide to Retail Management and POS Systems, which is currently in production and scheduled to publish in Q1, almost one-third (31%) of retailers that have not purchased a new system within the past 3 years indicate that they plan to do so in the next 12 months.
Starfleet Research Kicks Off New Hospitality Technology Webinar Series
Posted June 16th, 2017
Starfleet Research will share some of its recent research findings and analyst insights on hospitality technology-related topics in several upcoming webinars. The series begins July 27 with a webinar, sponsored by Agilysys, a leading provider of hospitality software and solutions for hotels, resorts and restaurants, entitled “Hotel Guest Experience Management: Everything You Need to Know.”
Healthcare Revenue Cycle the Focus of New Starfleet Research
Posted May 27th, 2017
Healthcare poses a confusing and challenging revenue cycle that dramatically differs from any other industry. From the minute the patient contacts a healthcare organization until after the payment is received, healthcare organizations must meet a dizzying array of requirements to properly qualify the patient’s insurance coverage, meet the service and documentation requirements, and build a claim that properly and accurately qualifies the service, patient situation, complicating factors, and condition.
Restaurant Operators Order Up Next-Generation Technologies
Posted May 6th, 2017
Restaurant operations tend to have a lot of moving parts. To compete effectively in today’s competitive market environment, all of the parts need to work together like a well-oiled machine – that is, a data-driven, next-generation machine. To be sure, all aspects of operations are becoming increasingly technology-enabled. Practically every top-performing restaurant, whether a full service restaurant or a quick service or fast casual restaurant, now incorporates specialized software applications to improve day-to-day operations and drive continuous performance improvement. These applications help with everything from budgeting, forecasting, financial consolidation and performance reporting and analysis to integrated, end-to-end solutions for point of sale (POS), menu and inventory management, invoice handling and workforce optimization.
Self-Service BI Means Getting the Information and Insights You Need Faster
Posted April 25th, 2017
The benefits of self-service business intelligence (BI) are obvious. For starters, one need only consider the time savings that self-service BI can deliver. According to preliminary research conducted for The 2017 Benchmark Benchmark Report on Self-Service Business Intelligence, which publishes in June, 93% of companies cite time reduction (e.g., the time needed to access information, the time needed to analyze data, the time needed to make decisions, etc.) as a top reason to deploy self-service BI. A common refrain from business users who previously relied on traditional BI tools and processes is that the response from IT to their requests was suboptimal, at best. They complain of having had to pester IT multiple times to get a new report. Almost half (49%) of them said that they needed to go outside the standard reporting and analysis process at least once a month to get the information they needed.