AI is being widely applied in many industries, one of which is the accommodation business. Let's learn about the application of AI in the accommodation business with Cohost!

1. What is AI technology?

AI is Artificial Intelligence - Artificial Intelligence. When hearing this phrase, many people will immediately think of robots. That's because big-budget blockbusters or sci-fi novels often portray artificial intelligence as human-like machines.

Actually, AI refers to computer programs that have the ability to imitate human intelligence, they have the ability to think and act like us. In addition, artificial intelligence is also a machine that possesses the same properties as the human brain, such as the ability to learn and solve problems.

2. Some outstanding applications of AI in the accommodation business

Currently, AI is being applied in many fields and industries, including the accommodation business.

Virtual assistant

Referring to virtual assistants applying artificial intelligence, everyone is familiar with Siri or Google Assistant. In accommodation, virtual assistants are also being applied by companies to provide a better experience for customers, especially at hotels.

For example, hotels can prepare each room with an Amazon Echo speaker - a speaker connected to Alexa, Amazon's virtual assistant. This speaker will listen to the guest's words and execute commands when it hears voice commands ("Hey Alexa"). This way, guests can control the services and items in the room and use them without much effort.

Virtual assistants can also be used to book hotel rooms, similar to chatbots.

Chatbot

AI-powered chatbots are also being widely used in the accommodation industry: travel planning, booking and customer support, providing recommendations and travel advice to customers. The chatbot works 24/7, answering questions, supporting customers at all times.

Customers want immediate answers. Furthermore, with chatbots in place, employees can focus on other more important, demanding and interesting tasks, thereby increasing their satisfaction. '

Predictive analytics

Accommodation companies are also starting to use AI, specifically predictive algorithms, to address user needs as proactively as possible. For example, based on previous bookings, age, gender and interests, hotels can develop incentive programs for loyal customers.

Predictive analytics allows hotels to know the needs of each guest, thereby offering attractive offers just for each person. Another example is the creation of a pricing strategy based on predictive analytics.

3. The importance of AI application in the accommodation business

Enhance customer experience

The application of artificial intelligence in the accommodation business comes from the ability to analyze data and forecast. Hotels can apply AI to learn about customers' preferences, needs and behaviors, thereby giving appropriate responses. It could be booking suggestions, airline tickets, ideas for travel plans or incentive packages.

Improve business efficiency

AI can also be used to assist in channel management, revenue management and booking management, which are important sources of revenue for hotels.

a. Channel Manager

Artificial intelligence will help you analyze and track the hotel's inventory, thereby knowing which channels bring the most benefits to the hotel at the most reasonable cost.

b. Revenue Management System

In the accommodation management industry, AI supports the management of computational channels, analyzing large amounts of data to offer the best price. Not only that, you can update different prices for different channels automatically. As a result, you can get the most profit without spending too much time and energy.

c. Booking engine

Booking will become easier with the help of AI chatbot. These chatbots can talk to customers based on neurolinguistic programming (NLP) and voice in multiple languages. That is, they can communicate with customers from many different countries.

Not only that, the chatbots work 24/7, supporting 24/7 booking for guests.

Hotel Management Platform Cohost AI

There are quite a few AI hotel management applications on the market today, but the highlight is Cohost AI with top quality.

The outstanding features of this platform are reservation management, reservation quality management, multi-channel management, multi-platform, financial report tracking, etc. The special feature is that it owns diverse solutions. , suitable for many forms of accommodation business: homestay, villa, resort, hotel and serviced apartment.

4. AI application trends in the accommodation business

AI is being widely applied and popularized in hotel management. In fact, it is used in most management platforms today. According to a report, the development of artificial intelligence in the accommodation business is forecast to happen faster than other industries in the hospitality group such as F&B.

5. Conclusion

AIs are becoming more and more intelligent, its potential in the accommodation business will be more and more open. Getting started with AI now will give your hotel a first-mover advantage, lead the way, and build a sustainable brand.