Artificial Intelligence: How Modihost’s AI Can Help Make a Hotel Guest’s Stay Memorable
A new AI-powered platform for hotel management helps personalize a guest’s experience.
ModiHost is an AI-powered, cloud-based, SaaS hotel management platform that aims to boost a hotel’s upsales up to 25% by offering a unique and personalized experience to its clients. The platform uses AI to make sense of the huge amounts of typically unprocessed and wasted client data at the average hotel. Instead, this data can be assimilated by the AI algorithm and used to enhance a client’s visit. (Forbes)
Hotels were taking it easy
“Hotels and the companies that manage them have always had access to the latest technology, but “RevPAR” (a figure looking at occupancy multiplied by room rate) has increased year after year for the past 8 years in the US, each of the years bringing a new record,” said Stephan Radwitz, ModiHost CEO, in an interview with Gabriel Leigh of Forbes. “I think they felt that success would last forever so there was no need to upgrade to or explore new technologies.”
However, the COVID-19 pandemic turned all that complacency on its head. In the new, rather difficult normal, hospitality properties are trying to cut costs and beef up revenues any which way they can.
“More hotels are going to be fighting for a piece of a smaller pie, at least for a while,” observes Radwitz. “Hotels can’t control the market, so they will have to control costs.”
He also points out that AI can increase guest satisfaction, boost occupancy, and maximize revenues. In a white paper, ModiHost says AI can boost efficiencies in hotel management. It can also reduce costs via smart property management. The Whaler in Maui adopted this strategy successfully. The property used AI to manage energy usage and cut costs by 30%.
How the system works
The AI-powered hotel management system captures data relating to guests and their activities. For example, through face recognition, it picks up the person’s name, length of visit, and purpose of stay. Other details such as concierge requests, their usual room temperature, and favorite activities such as swimming in the pool or massage also make it into the AI database.
The system also stores the guest’s in-room dining orders, and meal preferences. For example, if a client is vegetarian, the system will flag this for hotel staff as a point to note. So when the person next orders food or reserves a table in the restaurant the staff will be prepared.
When the guest returns for another visit, the hotel can welcome them with very personalized attention and service – for example, breakfast at their preferred time, favorite foods, juice, or coffee – all courtesy of the prompts from the AI system.
Guests love this kind of personalized attention and will come back for more.
Latest Alternative Investment News
In a unique plug for bitcoin’s adoption, MicroStrategy (NASDAQ: MSTR), the business information firm, has decided to pay its non-employee directors in bitcoin. The company has been a trendsetter, setting…
Alternative Investments/Digital: Yet Another Bitcoin ETF Application; Galaxy Digital Is The Latest Hopeful
Galaxy Digital, the cryptocurrency investment firm led by Mike Novogratz, has filed an application with the SEC to launch a bitcoin ETF that will trade on the NYSE Arca. The…
Microsoft (NASDAQ: MSFT) may buy Nuance Communication (NASDAQ: NUAN) at a valuation of $56 per share, according to Bloomberg, which cited unnamed people who were familiar with the matter. The…
Venture Capital: Supervest, A Platform That Matches Loan-Seeking Merchants With Investors, Is Seeking Funds
Supervest calls it a new asset class. Merchant cash advances (MCA) are a form of short-term financing for merchants in the form of a sales agreement in which capital is…