Ratchaya Termsilkanok, VP of Strategy & Digital Innovation at Cross Hotels, discusses the role of technology in the future of hospitality. He emphasizes three key areas.
- Firstly, the importance of technology that enables the commercial team to anticipate future demand and make informed strategic decisions. This includes the ability to analyze data from hotel and flight searches to better understand customer behavior.
- Secondly, Ratchaya highlights the need for data automation, particularly in managing PMS data, social media data, and customer data. Efficient access to and utilization of data are crucial to avoid wasting time and resources.
- Finally, he emphasizes the significance of pricing automation in a fast-paced business environment, where technology can support continuous execution of pricing strategies.
In conclusion, Ratchaya believes that combining these three aspects—technology for demand forecasting, data automation, and pricing automation—will propel the commercial operations of hotels to the next level.
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Read the complete transcript here:
Yeah. Well, I think three things.
I will start from the first one.
We want the technology that allows the commercial team to see the future demand outlook so that they can strategize, react, and steer in the right direction to achieve the best possible performance on revenue, right?
So, all the hotels-search flight-search data and where it is coming from. If we have the technology that we can see this, it will be very helpful.
The second thing that comes to my mind is data automation. And it includes your PMS data because it is the biggest source of data that you have, social media data, as well as your customer data platform. Because as a group of hotels, we cannot spend days, weeks, months just to manage the data, right? And we cannot keep hiring more people just to manage the data.
It is very important that you get the data whenever you want to use it. Otherwise, it is not enough. It is kind of useless. That’s the second thing.
The third one: I think it is pricing automation because of the business environment that is moving day-to-day very fast nowadays. That kind of machine can help us execute our pricing strategies 24×7.
So, I think these three combined altogether will help in moving your commercial to the next level.
Meet the Speaker
VP, Strategy & Digital Innovation
Cross Hotels & Resorts