00:04 — Hedna Overview
00:08 — what are the worst things about conference presentations — sales pitches from the stage
00:26 — Blockchain what is the real value to hospitality?
00:41 — Create efficiencies to reducing the steps of purchase and develop good content to answer guest interest first and not shiny object
00:51 — What is the greatest challenges to a vendor to the hospitality industry — Vayln says its the fragmentation of ownership
00:57 — Booking Suite is making some good changes in driving non branded ownerships especially looking at the domestic US wasteland of brand marketing
01:22 — Sandals make good on a 25 year old voucher
01:27 — Airbnb no IPO this year
01:31 — People are not loyal to brands they are loyal to experiences
01:36 — The use of vanity metrics and the abuse of Bots The Follower Factory NYTimes article review of
1. HEDNA Conference Update
1. Michael Levie, CEO – citizenM
1. Trivia –Q: How did citizen arrive at its name? A. Mobile Citizen
2. We have tried to create an environment where our staff is nice.
3. Our satisfaction score is 92.4%. A level normally seen only by exceptional five-star luxury hotels.
4. We hooked everything up to an enterprise service bus, so we have APIs to access the data & have built dashboards to manage the information. We are at 93% with clean data.
2. Impact of Vacation Rentals on Hospitality Industry with Justin Rao, Head Economist & VP of Data Science for HomeAway
1. Urban Destinations – new, murky, changing regulations, non-compliance
2. Vacation Destinations – mature industry & regulations, expanding online marketplaces
3. North America – more rent by owner; Europe – Blurry lines between vacation rentals, apartments and hotels
4. In next 10 years, will see increase in wallet dollars available for tourism due to technological advancements and reduction in hours worked
5. San Diego Short Term Rental (STR) Market
i. Project 40% demand growth in 2018
ii. Hotel occupancy continuing to increase, despite STR growth
iii. Smaller gap between peak and off-peak rates – STR reducing demand elasticity
3. No More Passports: The Electronic Identity has arrived | Melissa Flood, Marriott VP Social Impact & Public Affairs, Marriott & Rajeev Kaul, Accenture MD
1. Known Traveler Program announced at World Economic Forum
4. Dr. Peter Stone, computer science professor at @UTAustin on Artificial Intelligence and Travel in 2030
1. Reinforcement Learning – Agent acts on policy – action impacts the environment and perhaps provides a reward, with the agent acting on the policy in a recurring cycle – key is to discover optimal policy that results in maximum reward
2. Goal of RoboCup Soccer challenge is to beat the human World Cup championship team by 2050
5. Mapping the Mobile Guest Journey with Sunder Pillai, CIO NTT
1. Consumers are not loyal to brands. Consumers are loyal to experiences
6. Austin Mayor Steve Adler interviewed by Greg Duff of Garvey Schubert Barer
1. Discussion of regulation v. innovation – How Austin managed ride sharing conflict.
7. State of the Industry
1. Derek Price, Expedia Media Solutions seeing a shift from OTA to brand.com, but OTAs still getting majority of bookings
2. RJ Friedlander of ReviewPro highlighted case study on impact of @TripAdvisor ranking Aria Budapest/Library Hotels as best hotel in world
3. Arthur Waller, BookingSuite great trivia – Q; How many PMS’? A: 1,500…
8. The Future of Central Reservation Systems with John Hach of TravelClick, Esther Hale of SHR, Tim Kinsella of Amadeus, Sean Lenahan of Pegasus and Tom Winrow of Sabre.
1. Amadeus – Allow guests to build a pizza – offer many options and allow guest to customize own product for more fulfilling experience
2. SHR –CRS needs to connect hotels to guests not just channels -true guest needs
3. Pegasus – Faster response times, leverage data with machine learning to improve service
4. Sabre – Tailor value added offers based on signals from unknown traveler
9. Introduction to the blockchain with Doug Rice, Pedro Anderson of WindingTree and me (representing Currency Alliance)
1. WindingTree – public, non-permissioned on Ethereum. ICO on Feb 1 (Day 1 capture ~$6.4 Million)
2. Currency Alliance – private, permissioned on Ethereum. First announced partner Avios; discussion with major US airline – projection of $60 million annual savings.
3. Something we didn’t cover – a great demonstration of how it works – https://anders.com/blockchain/
2. One&Only Resorts Is Branding Luxury Homes and Selling Them
Full NYT article: https://www.nytimes.com/interactive/2018/01/27/technology/social-media-bots.html
Funny you should bring that up. My colleague Mike Moran and I just interviewed an expert in this area from the Society for New Communications Reserarch for a Conference Board webcast that essentially says the same thing: Advertisers fund fake news. Check it out/share as appropriate: