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‘RezNext is the world’s first true provider of real-time distribution technology’ - Mike Kistner, Chief Executive Officer, RezNext

With close to three decades of experience in the hospitality industry, Mike Kistner joined the RezNext team as Chief Executive Officer to lay emphasis on the group’s strong focus on the hotel distribution business. He explains to Sumit Jha how RezNext offers hoteliers the opportunity to tap into the growing online travel market by adopting a powerful distribution strategy

Monday, December 16, 2013, 10:00 Hrs  [IST]

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Q. What would be the top three reasons for a hotel to be a RezNext customer? Please elaborate.
Mike Kistner:
RezNext offers a distribution model that is unique in the industry. It is the only provider of true real-time distribution technology that empowers hotels to automate their distribution process, maximise revenues and leverage the power of the internet to its fullest.
  • Real-time connect: The RezNext technology platform offers powerful two-way connectivity between the hotel’s Property Management System (PMS) and electronic distribution channels. This means a hotel’s real-time inventory and rates can flow to the electronic distribution channels through the RezNext platform and the booking from the electronic channels flows back into the PMS. There is no manual entry of the bookings that needs to be done in the PMS, thus reducing errors of missing out on any reservation bookings.
  • Traditional and Non-traditional channels: RezNext provides hotels access to traditional and non-traditional channels that have a huge internet savvy consumer base to whom hotels can sell their rooms. The real-time connect ensures consumers have a smooth experience while automating the bookings for the hotel.
  • Best of breed solutions: RezNext provides technology solutions across the entire distribution eco system. Its real-time two way connect is powered by revenue management intelligence which considers competitive pricing strategy as well to arrive at the best rate at which to sell. RezNext also helps hotels build a strong brand online with reputation management fueling the hotel’s distribution efforts. Our solution set also provides a dynamic web booking engine allowing hotels to drive the most profitable bookings through their own website. We also offer a channel manager through which hotels can connect to hundreds of electronic channels and efficiently manage all of them on one single application. RezNext’s technology solution connects all the dots in the distribution universe and provides operating intelligence on a single dashboard for quick analysis and action.

“The RezNext technology platform addresses existing key challenges faced by hotels including manual management of rates and inventory on different extranets, people dependent process for booking, modification and cancellation, no visibility of dynamic rates and loss of potential business due to lack of insight into available inventory”

Q. How does RezNext help hotels maximise revenue while ensuring that they optimise their inventory?
MK:
Maximising revenues while optimising occupancy is a big challenge for hotels. Hotels today lack a real-time connect and hence they do not have control over their distribution efforts. So, while room inventory is made available to channels, they are not updated real-time which means hotels are not in control of their actual inventory at all times and thereby not in a position to push for better occupancy. Because of a lack of real-time connect, hotels are also not in a position to sell up to their last rooms thus reducing their chances to drive additional revenue. RezNext’s technology platform addresses these challenges at the core. Our real-time two-way connect equips hotels to have better control over their distribution strategy allowing them to analyse which channels are yielding best and to maximise the opportunity to drive more revenues from those channels while improving occupancy.
 
Q. RezNext has brought in big change in the way hotel’s reservation system and online booking channels work in real-time. What makes RezNext special for hotel operators?
MK:
RezNext offers hoteliers the opportunity to tap into the growing online travel market by adopting a powerful distribution strategy. The RezNext technology platform addresses existing key challenges faced by hotels including manual management of rates and inventory on different extranets, people dependent process for booking, modification and cancellation, no visibility of dynamic rates and loss of potential business due to lack of insight into available inventory. RezNext gives the power back to the hotels by allowing them to be in control of their distribution plan.
 
Q. Being a world-class distribution solution provider, highlight the main points which distinguish your product from the others available.
MK:
RezNext is the world’s first true provider of real-time distribution technology. Our main strength is that we offer a solution set that helps hoteliers manage every aspect of the distribution ecosystem across revenue management, competitive rate pricing, channel management, online reputation management, guest relationship management and distribution analytics. Our technology is built on .NET platform and hosted on Azure Cloud. We offer solutions that are based on a Software as a Service (SaaS) model, providing hoteliers a great RoI on their investment.

Q. How much does the Indian hospitality industry adapt to the global needs of online practices? Is there need for improvisation? What can be done?
MK:
In mature markets like the US, hotel room bookings through electronic channels amount to approximately 60 per cent of all bookings (TravelClick). In India this trend is fast catching up. The online travel sales Compound Annual Growth Rate (CAGR) in India for 2011-2016 (according to newmediatrendwatch.com) is at 30.6 per cent. Also, the total online gross bookings jumped 15 per cent to USD 6.9 billion in 2012. The prediction (according to PhoCusWright’s India Online Travel Overview Sixth Edition) is that the Indian online market will outpace the total market through 2015, when online penetration will reach 43 per cent. While bookings through the hotel’s website amounted for 33 per cent (TravelClick) of the total bookings, in India this number is at 7.7 per cent (Indian Hotel Industry Survey 2011-2012) indicating a need for hoteliers to leverage their own brand.com to drive bookings.

 
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