When you come to the hotel, your experience in the hotel touches many aspects of revenue, which the hotels are now waking up to:
- You sleep, so you have your room rate.
- You eat, you have your restaurant and your room service spend.
- You meet, you have your meeting room spend.
- You have your personal time with your family. Maybe you will get married there. Maybe you attend a party there.
- You interact with people. There are public spaces where people sit and work.
There are all these opportunities now for the hotels to really think in a very holistic way around their wider revenue position, and really think about their guest in a slightly different way. Not to only think about their guest in terms of the room revenue component, but to think about their guest and their impact across the whole of the business.
[Watch our latest Duetto Concepts Video on Total Revenue Management here: https://www.duettocloud.com/videos/total-revenue-management]
Casinos Led The Way
I think we were early to this game, actually, as Duetto. Our casino experience and our casino history meant that we've always thought about the guest in a wider way. We've always considered the wider impact of the guest in the property. Our Duetto Rate Engine allows us to be very intuitive and very creative about how we see the guest; not to just think about the spending that accrues for the room, but also what they might spend on the casino floor or other areas of the business.
Tech Stack Alignment
As we see the tech stacks align more closely in the hotels and this realization that they can combine that loyalty piece with the guest recognition piece, with the revenue management piece, and the folio data that comes through the PMS, we're going to see more and more revenue optimization going on at a total level in the hotels. And it's a good thing.
We should welcome it because it provides our hotels the opportunity to make better, more intuitive, more personalized offerings for their guests, and more personalized offerings for their guests mean a happier guest.
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