Over the past 15 months, occupancy and revenue have declined to unimaginable levels. As passengers begin to return, many in the industry have cited technology as a way to increase productivity and increase profitability going forward. The hotel management asked several hotel managers how they best rely on technology to positively improve profitability.
“Occupancy will return, but the rate will still lag behind for a while,” said Jim O’Hara, chief financial officer at PM Hotel Group. “With the current employment problems, the pressure on earnings is affecting profitability.”
Using productivity software will enable an adequate level of staff and save costs associated with overtime, O’Hara said. Additional technology, such as an online purchase order system, in the hands of management is crucial so that management can use resources more efficiently.