ChatGPT and AI in the Innkeeping and Lodging Industry

1. ChatGPT and AI in the Innkeeping and Lodging Industry A CONVERSATION by – Gideon Stanley Ceo – gracesoft.com

2. ChatGPT, which stands for Chat Generative Pre-trained Transformer ChatGPT

3. ARTIFICIAL INTELLIGENCE (AI) ARTIFICIAL INTELLIGENCE (AI) IS THE ABILITY OF MACHINES TO PERFORM TASKS THAT ARE TYPICALLY ASSOCIATED WITH HUMAN INTELLIGENCE, SUCH AS LEARNING AND PROBLEM-SOLVING

4. KEY WAYS AI IS BEING UTILIZED INTO INNKEEPING AND LODGING INDUSTRY

5. KEY WAYS AI IS BEING UTILIZED INTO INNKEEPING AND LODGING INDUSTRY • CUSTOMER SERVICE AND COMMUNICATION • Reservation and Booking Management • Guest Experience Enhancement • Operations and Efficiency • Security and Safety • Data Analytics and Insights • Revenue Management • Health and Hygiene

6. BENEFITS OF CHATGPT

7. BENEFITS OF CHATGPT • CHATGPT WITH ITS ADVANCED NATURAL LANGUAGE PROCESSING CAPABILITIES, IT CAN HANDLE GUEST INQUIRIES AND REQUESTS WITH EASE, FREEING UP STAFF TO FOCUS ON OTHER TASKS. • Complete content generation for your Welcome emails, Thank You emails, contracts and legal documents – all of them need to be fine-tuned.

8. BENEFITS OF CHATGPT • CHATGPT CAN ALSO PROVIDE PERSONALIZED RECOMMENDATIONS FOR GUESTS BASED ON THEIR PREFERENCES AND PAST BEHAVIOR. THIS NOT ONLY IMPROVES THE GUEST EXPERIENCE BUT ALSO INCREASES REVENUE BY ENCOURAGING ADDITIONAL PURCHASES AND UPGRADES. • Market Research: Researchers can use it to analyze and summarize large volumes of data, identify trends, and generate reports.

9. BENEFITS OF CHATGPT • SUMMARIZE ARTICLES : IT CAN USE TO SUMMARIZE WEBSITES AND PAGES OF CONTENT IN A FEW LINES • Seamless.ai – lead generation

10. Customer Service and Communication Chabot's and Virtual Assistants: • To handle basic customer queries and requests, such as room availability, booking inquiries, and FAQs. Tools https://www.revinate.com/

11. Customer Service and Communication Personalized Guest Messaging: • AI-driven platforms can send personalized messages to guests before, during, and after their stay, enhancing communication and satisfaction.

12. Reservation and Booking Management Dynamic Pricing: Analyze market conditions, demand, and historical data to adjust room prices in real-time, maximizing revenue for hoteliers. Tools: www.takeup.ai

13. Reservation and Booking Management Predictive Analytics AI can predict future booking patterns, helping hotels optimize room inventory and pricing strategies. •

14. Reservation and Booking Management Voice Recognition Some hotels are integrating voice-activated AI assistants into rooms, allowing guests to make reservations or request services through voice commands.

15. Reservation and Booking Management Recommendation Engines AI algorithms analyze guest preferences and behavior to suggest personalized amenities, services, and local attractions.

16. VIDEO ANALYTICS: AI-powered cameras can detect unusual behavior or security breaches and send alerts to staff or authorities. Tool : www.tipnow.com

17. DATA ANALYTICS AND INSIGHTS Guest Feedback Analysis: AI tools can analyze guest reviews and feedback to identify trends and areas for improvement Tool : • https://embedsocial.com/blog/chatgpt-ai-customer-feedback-analysis/ • https://www.essense.io/ Performance Metrics AI-driven dashboards provide insights into key performance indicators, helping innkeepers make data-driven decisions

18. REVENUE MANAGEMENT Demand Forecasting: AI can predict demand for rooms and services, enabling hotels to adjust pricing and marketing strategies. Cross-Selling and Upselling AI can identify opportunities to upsell rooms or additional services to guests based on their preferences and booking history. Example -Google use of Bart

19. THE DYNAMIC PRICING USING AI • In the last couple of years several companies have rolled out the concept of Dynamic pricing based on Machine Learning and AI. • Some of the models followed by these software's provide a Dynamic AI rate optimization platform that maximizes revenue for independent lodging, giving the confidence to price courageously

20. THE DYNAMIC PRICING USING AI • For example, www.Takeup.ai – a dynamic pricing software company say that “TakeUp’s AI actually learns the demand and price sensitivity for an individual property, and then continuously adapts the rate strategy to optimize for revenue. Unlike traditional yield management which depends on static rule sets, or some other solutions which try to use regional trends to predict demand, TakeUp provides a solution that is property-specific, automated, truly dynamic, and always adjusting to create the biggest boost for that property.” • These types of software's are already changing the revenue model for small properties where the property owners can maximize their ADR.

21. INDUSTRY TRENDS FOR 2024 and beyond • What is the top 5 trends of Lodging technology for 2023 and beyond. • The top five trends that are expected to dominate the industry in the coming years include: • AI and ML for personalizing guest experiences and automating tasks; • IoT for creating smart hotels and restaurants; • Mobile technologies for convenient and efficient communication. • In the near future ChatGPT will handle all guest needs quickly and efficiently. • With the help of AI, rooms will be customized to each guest's preferences, from temperature to lighting to entertainment options.

22. LEARNING FROM HOTEL VS B&B

23. BOOKING.COM & EXPEDIA AI USAGE • Personalized Recommendations: • AI algorithms to analyse user behavior and preferences to provide personalized travel recommendations. • Helps users find accommodations, flights, and activities that align with their interests. • Dynamic Pricing: • Optimize pricing strategies for hotel rooms and flights. • It analysed factors like demand, historical data, and competitor pricing to offer competitive rates to customers. • Chatbots and Customer Support: • Chatbots and virtual assistants powered by AI to provide instant responses to customer inquiries and assist with booking changes, cancellations, and other common queries.

24. BOOKING.COM & EXPEDIA AI USAGE • Personalized Recommendations: • AI algorithms to analyse user behavior and preferences to provide personalized travel recommendations. • Helps users find accommodations, flights, and activities that align with their interests. • Dynamic Pricing: • Optimize pricing strategies for hotel rooms and flights. • It analysed factors like demand, historical data, and competitor pricing to offer competitive rates to customers. • Chatbots and Customer Support: • Chatbots and virtual assistants powered by AI to provide instant responses to customer inquiries and assist with booking changes, cancellations, and other common queries.

25. BOOKING.COM & EXPEDIA AI USAGE Fraud Detection: AI was used for fraud detection and prevention to protect fraudulent activities. Voice Search: Allowing users to search for and book accommodations or flights using voice commands, making the booking process more convenient. Photo Recognition: Booking.com used AI to analyse and categorize property photos, helping users quickly identify key features and characteristics of accommodations.

26. ONLINE BOOKING REVENUES Booking Holdings and Expedia Group are the two juggernauts of the online travel booking industry, and account for about 60 percent of all travel bookings in the U.S. and Europe.

27. CHALLENGES AND PRACTICAL USAGE • One major concern is the potential loss of human interaction and personal touch that guests have come to expect from their lodging experiences. • However, it's important to remember that ChatGPT and AI can actually enhance the guest experience by providing personalized recommendations and improving efficiency. • Real-time use of Chat GPT – Hands on – login and try to create a recipe of your famous dish using Chat GPT.

28. MARKETING SHARE OF LEADING Generative Ai Platforms

30. Inaccurate information & hallucinations Lack of common sense/ ability to reason Potential for biased outputs Limited long-term coherence LIMITATIONS OF CHATGPT & GEMINI

31. Inaccurate information & hallucinations Lack of common sense/ ability to reason Potential for biased outputs Limited long-term coherence Pros of ChatGPT for content generationfor content generation

32. CONS OF CHATGPT FOR CONTENT CREATION • Tendency to be verbose and use cliché language • No access to real-time information • Cannot access URLs for reference or analysis • No file uploads possible

33. PROS OF GEMINI FOR CONTENT CREATION • Good results with simple prompts • Direct line to Google with up-to-date information • Ability to access URLs • Ability to upload images for analysis • One-click response modifications • Generates 3 drafts to compare • Multilingual support for more than 40 languages

34. PROS OF GEMINI FOR CONTENT CREATION • Good results with simple prompts • Direct line to Google with up-to-date information • Ability to access URLs • Ability to upload images for analysis • One-click response modifications • Generates 3 drafts to compare • Multilingual support for more than 40 languages

35. CONS OF GEMINI FOR CONTENT CREATION • Requires a Google account • Struggles to follow complex discussions • Tendency to use repetitive phrasing and cliché language • Internet sources can be unreliable • Doesn't offer as many plugins and integrations

36. SO, WHICH IS THE BETTER TOOL? • Let's get ready to rumble! • Note: This experiment was conducted using the FREE versions of both tools.

37. Create compelling original content for social media channels with its AI-powered features. • https://socialbu.com/

41. AND THE WINNER IS... • Reader preference... Gemini • Human writing style... Gemini (slightly) • Humor... Gemini (subjective) • More unique content... Gemini • Translations... neither is perfect

42. BUT LET'S NOT FORGET THAT... • We are comparing GPT-3.5 with Gemini • GPT-4 is more powerful and has more features than Gemini Advanced • GPT-4 offers "open source" solutions with its GPT-Store • GPT-4 can easily read big CSV files, which is ideal for Keyword Clustering • Everyone has a preference and that's totally fine!

43. ADDITIONAL AI TOOLS • Create compelling original content for social media channels with its AI-powered features. • https://socialbu.com/

44. ADDITIONAL TOOLS – MARA SOLUTIONS • Capabilities: AI response generator. • When to use: To generate responses in natural language to customer reviews on different platforms. • Pricing: From $0 to $100 per month. • https://www.mara-solutions.com/

45. ADDITIONAL AI TOOLS • Empowers users to enhance the quality of their visual media—photos and videos—by seamlessly incorporating new elements and modifying existing ones. • Simplifies the editing process, making it accessible to users across the spectrum. • https://leonardo.ai/

46. ADDITIONAL AI TOOLS • This AI tool lets you retouch images by removing unwanted objects, defects, or even people, using a process known as “inpainting” to help you create the perfect image. • https://murf.ai/

47. ADDITIONAL AI TOOLS • This AI tool lets you retouch images by removing unwanted objects, defects, or even people, using a process known as “inpainting” to help you create the perfect image. • https://cleanup.pictures/

48. ADDITIONAL AI TOOLS • This tool uses a neural network system called Phoenix to automate audio source separation. • • This involves extracting elements such as vocals, music, or even specific instrumental tracks • https://www.lalal.ai/

49. More Information, Please visit our blogs • ChatGPT and AI in the Hotel Industry • AI Marketing Tools for Hospitality Industry to Elevate Your Business

50. THANK YOU !