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Finding Hidden Cost Savings in Hotel Operations by Connecting BI, Ops and Maintenance Software

The fourth quarter brings the all-too-important annual tradition of budget planning for next year, and yet 2024 ‘s specific challenges have given the more heavily integrated hotel technologies a unique time to shine.  As we review the numbers thus far from 2023, operational and labor costs continue to edge up in lockstep with guest service expectations, and yet some of the latest projections show travel demand as normalizing at or slightly above current levels. This can lead to a scenario of stagnant growth and diminished net contributions (in both real and nominal values), coming right at a time when macroeconomic forces like the pursuit of sustainable operations are compelling hotels to devote extensive capital towards a property improvement plan (PIP). It follows that a top priority should be tightening cost controls to optimize profitability ahead of rolling out any new ventures, where traditionally many areas ripe for savings aren’t readily [...]

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