Last week’s The Hospitality Show rounded out the major conferences for 2024. HIA’s team participated with a booth and spoke with many hoteliers on the tradeshow floor. Here are the top 3 trends hoteliers and integration partners were speaking about in finance and technology.
1. Flexible Reporting is King
In financial management, one message came through loud and clear: hotel operators and financial managers want flexible, customizable reporting capabilities. That’s why there was a lot of buzz around HIA’s Excel Connect integration. Excel Connect is HIA’s advanced, two-way direct integration with Excel, enabling hoteliers to seamlessly connect their general ledger (GL) data with their financial spreadsheets, reports, and budgets.
With Excel Connect, the days of tedious data entry and static reporting are over. Hoteliers can pull real-time financial data from HIA directly into their spreadsheets and, just as importantly, update and push information back into the HIA system with a simple click.
HIA’s EVP of Sales, Chris Hall noted, “We are getting great feedback from customers on the Excel Connect integration. Everyone loves the flexibility it gives them as well as the speed with which they can sync the data.”
2. GL is Still the Backbone of the Back-Office
Another theme that came across in the management company and integration partner conversations is that in the world of hospitality, accounting isn’t just a support function—it’s the foundation of the entire operation. The general ledger (GL) is still truly the backbone of back-office operations as it doesn’t just track debits and credits; it serves as the core data source for the entire financial ecosystem.
As hoteliers continue to adopt more specialized technologies in financial management, from purchase order software to automated payment solutions, the need for ERP & accounting systems that integrate well with others becomes even more crucial. Taking advantage of these specialized integrations give hoteliers a more complete financial picture, helping them make data-driven decisions across departments. The show underscored the importance of modern, GL-centric software (like Hotel Investor Apps) that can easily integrate with other hospitality technologies, ultimately creating a unified back-office experience.
3. Efficiency Leads the Way
In an industry fighting profit margin encroachment and high competition, efficiency remains a top priority. This was another clear focus of attendees at The Hospitality Show – who showed strong interest in technologies across the board that drive operational efficiencies- everything from advanced leak-detecting toilets/plumbing systems to consolidated technology platforms.
“Management companies are really focused on how they can help their teams be more efficient, and optimize their labor force,” noted Chris Hall, “Having a consolidated tech stack makes a difference in so many ways – it makes training new hires easier, increases productivity with streamlined technology, and lowers overall technology spend.”
It’s no wonder that efficiency tools are getting so much attention, as they can improve guest experiences and maximize profitability.
Summary
As the national conference season winds down for the year, it’s clear that hoteliers are focused on embracing technology that empowers flexibility, integration, and efficiency.
Hotel Investor Apps (HIA) is proud to lead the way in hospitality ERP solutions, providing a comprehensive back-office platform that streamlines financial management and enables seamless integrations. With HIA’s powerful tools for property accounting, budgeting, forecasting, and more, hoteliers can make faster, smarter decisions with confidence.
Discover how HIA can elevate your operations by requesting a demo today: https://hiasoftware.com//request-a-demo/.
Jaime Goss has over a decade of marketing experience in the hospitality industry. At Hotel Investor Apps, Jaime heads up marketing initiatives including brand strategy, website design, content, email marketing, advertising and press relations.
