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Hotel Asset Management Technology You Need to Optimize Operations

Michael Wilson | Aug 21, 2019

Category: Hospitality

As a hotel, perfecting your operations is an ongoing job. The more you're able to fill gaps in your operations, the more value you're able to deliver to your guests. Hotel asset ...

As a hotel, perfecting your operations is an ongoing job. The more you're able to fill gaps in your operations, the more value you're able to deliver to your guests. Hotel asset management technology can help you better manage inventory and control your assets more effectively.

Identify Your Hotel's Assets

Assets cover everything that your hotel needs to track, from ephemeral supplies to permanent physical locations. In a hotel, not only are there room-related assets, but there are also technology assets, conference rooms, meeting rooms, restaurants, and more. A complete inventory of your hotel's assets and an audit of its inventory will help you begin the process of optimization.

Use Technology to Automate Your Tasks

Any task that is simple and repetitive can usually be automated. Automation reduces your overhead, improves the consistency of your workflow, and makes it easier on your staff. Examples of hotel asset automation include:

  • Automatically tracking critical assets, such as equipment, through sensors and tags.
  • Purchasing necessary inventory on a bulk schedule to asset depletion.  
  • Creating live, automated dashboard reports for decision makers.
  • Generating alerts for assets and inventory that need to be repaired, replaced, and inspected.

The more thoroughly a hotel's asset management is automated, the less the hotel has to do to keep everything running smoothly.

Create a Real-Time View of On-Site Assets

Hotel employees should be able to review assets on demand through a hotel asset management system. The ability to view assets in real time makes it possible to make decisions on the fly about purchasing and requisitions, while also making it less likely that the hotel will be caught without the assets that it needs.

Document Data to Spot Trends and Patterns

Machine-learning algorithms in hotel asset management technology can be used to spot trends and patterns in previous asset usage. This will indicate to the hotel whether their asset usage is going up or down, and whether there are trends that they need to prepare for in the future. A hotel might notice that the usage of its conference services is in decline; the data will be used to determine whether changes need to be made.

Improve Future Forecasting

The very same data that is used to spot trends and patterns can also be used to forecast future events. By analyzing past data, hotels are able to better determine their asset usage in the future.

This can be exceptional in the areas of inventory and purchasing, as a hotel will know how much it needs to purchase to avoid waste while still fulfilling its future obligations. Further, forecasting can be used by a hotel to identify potentially slow or fast months, and to react accordingly to preserve as much of its revenue as possible.

Hotels Can Improve Operational Efficiency With the Right Solutions

Through new asset management technology, Hayman Island Resort was able to track an extraordinary amount of assets and resources over its 166 room infrastructure.

With the right pattern recognition and analysis, Hayman Island Resort was able to reduce its waste and spending, while also bolstering its preventative maintenance and its forecasting. Ultimately, through reactive maintenance, Hayman Island Resort was able to avoid costly repairs to its equipment and assets, while also improving the overall experience for its guests. 

Does your hotel need to start investing in asset management? Regardless of how many assets your hotel needs to track, tracking them better can help drive your profits. You can find the right technology today with AFFLINK.

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