Business & Finance

OpenTravel Advisory Forum Online Registration Now Open

Co-located with HFTP's 2017 Annual Convention at the Omni Orlando Resort at Championsgate in Championsgate, Florida USA

AUSTIN, TX. August 24, 2017 — In demonstration of the two organization’s partnership, OpenTravel will co-locate its annual OpenTravel Advisory Forum with Hospitality Financial and Technology Professionals’ (HFTP®) upcoming Annual Convention. The OpenTravel Advisory Forum – Enabling the Future of the Connected Customer – will take place from October 23–25, 2017, while the HFTP Annual Convention will overlap starting on October 25, 2017 and run through October 27, 2017. Both events will take place at the Omni Orlando Resort in Championsgate, Florida USA. Online registration for the OpenTravel Advisory Forum is now available via the OpenTravel website.

OpenTravel’s Advisory Forum will feature an opening and closing keynote presentation, case studies, how-to sessions, networking sessions, an award ceremony and OpenTravel Standards Workgroup and Project team meetings. OpenTravel’s Advisory Forum will also include a golf outing at the Magnolia Golf Course at Walt Disney World. As an organization that represents the business and leisure consumer’s end-to-end travel, OpenTravel Advisory Forum attendees and sponsors span all verticals of the travel industry. The OpenTravel Advisory Forum will feature the latest travel technology tools for a unified consumer experience – this year’s theme is about “enabling the future of the connected consumer.”

“OpenTravel continues to evolve and focus on providing necessary technology to meet the needs of all travel parties to connect disparate systems in the travel industry,” said OpenTravel CEO Mike Tinkey. “Co-locating events will accelerate awareness and support of travel industry and hospitality technology standards more effectively to create a full, seamless consumer experience.”

Together, OpenTravel and HFTP encompass an extended group of stakeholders and industry professionals; combining resources will enable better communication, and allow stakeholders to conduct business more efficiently. OpenTravel provides a community where companies in the electronic distribution supply chain work together to create an accepted structure for electronic messages, enabling suppliers and distributors to speak the same interoperability language, trading partner to trading partner.

For more information, visit the organizations’ respective websites for the latest updates at www.opentravel.org and www.hftp.org. Visit the Annual Convention page on the HFTP website for complete information about all conference events, including the program schedule, hotel and travel details and more. For more information about HFTP’s Annual Convention and other global activities, contact the HFTP Meetings & Special Events Department at education@hftp.org or visit www.hftp.org.

About OpenTravel Alliance The OpenTravel Alliance is passionate about solving the problems inherent with connecting multiple systems within the complex travel distribution arena. Our mission is to enable the future of travel by driving the evolving digital experience for consumers. OpenTravel creates, expands and drives adoption of open specifications, including but not limited to the use of XML, for the electronic exchange of business information among all sectors of the travel industry.

OpenTravel is comprised of companies representing airlines, car rental firms, hotels, cruise lines, railways, leisure suppliers, service providers, tour operators, travel agencies, solutions providers, technology companies and distributors. Tens of thousands of OpenTravel message structures are in use, carrying tens of millions of messages between trading partners every day.

OpenTravel is a not-for-profit trade association, founded in 1999 by travel companies, with a primary focus on the creation of electronic message structures to facilitate communication between the disparate systems in the global travel industry. For more information on OpenTravel membership, new products, or projects, please visit http://www.opentravel.org or email info@opentravel.org.

About HFTP

Hospitality Financial and Technology Professionals (HFTP®) established in 1952, is an international, nonprofit association, headquartered in Austin, Texas, USA, with offices in Hong Kong, United Kingdom and the Netherlands. HFTP is recognized as the spokes group for the finance and technology segments of the hospitality industry with members and stakeholders spanning across the globe. HFTP uniquely understands the industry’s pressing issues and assists its stakeholders in finding solutions to their challenges more efficiently than any organization. It does this via its expert networks, research, certification programs, information resources and conferences/events such as HITEC. HFTP also owns the world’s only hospitality-specific search engine, PineappleSearch.com. For more information about HFTP, email membership@hftp.org or download the HFTP/HITEC media kit via the HFTP website. Read industry updates on the suite of HFTP hospitality news sites: HITEC Bytes, Club Bytes, Finance Bytes and HFTP News.

Coming Up In The October Online Hotel Business Review




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Feature Focus
Revenue Management: Technology and Big Data
Like most businesses, hotels are relying on technology and data to drive almost every area of their operations, but perhaps this is especially true for hotel Revenue Managers. There has been an explosion of technology tools which generate a mountain of data – all in an effort to generate profitable pricing strategies. It falls to Revenue Managers to determine which tools best support their operations and then to integrate them efficiently into their existing systems. Customer Relationship Management, Enterprise Resource Planning, and Online Reputation Management software are basic tools; others include channel managers, benchmark reports, rate shopping tools and review systems, to name a few. The benefits of technology tools which automate large segments of a Revenue Manager’s business are enormous. Freed from the time-consuming process of manual data entry, and having more accurate data available, allows Revenue Managers to focus on analysis, strategies and longer-term decision-making. Still, for most hotels, the amount of data that these tools generate can be overwhelming and so another challenge is to figure out how to effectively utilize it. Not surprisingly, there are some new tech tools that can help to do exactly that. There are cloud-based analytics tools that provide a comprehensive overview of hotel data on powerful, intuitive dashboards. The goal is to generate a clear picture, at any moment in time, of where your hotel is at in terms of the essentials – from benchmarking to pricing to performance – bringing all the disparate streams of data into one collated dashboard. Another goal is to eliminate any data discrepancies between finance systems, PMS, CRM and forecasting systems. The October issue of the Hotel Business Review will address all these important developments and document how some leading hotels are executing their revenue management strategies.