Yahoo Finance Oracle (ORCL) Signs Deal With Choice Hotels to Offer Solution
Oracle ORCL Hospitality has signed an agreement with Choice Hotels International to extend its artificial intelligence (AI)-powered merchandising solution, Oracle Nor1, to the latter's portfolio of upscale hotels. This move aims to help these properties capitalize on incremental revenue opportunities.
Leveraging applied AI, Oracle Nor1 enables hotels to present targeted offers via mobile apps or digital marketing channels tailored to each guest's preferences and with a high probability of conversion. These offers can span the entire guest journey, from room upgrades at booking to upselling daily breakfast during the stay, and even late checkout options.
Choice Hotels' Radisson Americas brands have already experienced success with Nor1's eStandby solution, which provides pre-arrival upsell opportunities based on room attributes, guest preferences and more. In 2023, more than 100 properties using this solution averaged a 17% increase in incremental upsell revenue per transaction.
Following this success, Nor1 eStandby will now be available across Choice Hotels' upscale hotels, including Radisson Blu, Radisson, Cambria, the Ascend Collection and others, regardless of the franchisee's existing property management system. Integrated with digital channels, automated offers can be presented throughout the pre-arrival phase.
The Zacks Consensus Estimate for ORCL’s fiscal 2024 revenues is pegged at $53.22 billion, indicating year-over-year growth of 6.54%. The Zacks Consensus Estimate for earnings is pegged at $5.58 per share, indicating year-over-year growth of 8.98%.
Shares of this Zacks Rank #2 (Buy) company have gained 14.6% year to date compared with the Zacks Computer and Technology sector’s growth of 13.5%. This outperformance was due to ORCL’s alignment in understanding customer needs. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle Joins Other Tech Service Providers in Hospitality Sector
Cloud computing, AI, augmented reality and data analytics have become indispensable tools for service providers in the hospitality sector.
Cloud computing has emerged as a game-changer, offering both cost-effectiveness and scalability. By leveraging cloud services, hospitality businesses can streamline operations, reduce expenses and provide seamless customer experiences. This approach has introduced automation and efficient resource management, enabling companies to focus on delivering superior service.
Major technology players, including SAP SAP, Amazon AMZN and Alphabet GOOGL, have recognized the immense potential in the hospitality industry and are actively contributing innovative solutions.
Oracle Hospitality, a prominent player in the industry, offers a comprehensive range of technology solutions tailored for independent hoteliers, global and regional chains, gaming establishments and cruise lines. ORCL's hardware, software and services empower customers to make data-driven decisions, personalize guest experiences, optimize profitability and foster loyalty.
With cloud-based and mobile-accessible systems, as well as open APIs, the company's offerings, including OPERA Cloud property management and distribution, Simphony point-of-sale and Nor1 upsell solutions, drive innovation, boost revenues, reduce IT expenses and enhance operational efficiency.
SAP's Hospitality Management effectively manages hotels, consistently outperforming competitors and boosting revenues through robust sales and marketing strategies.
Amazon Web Services’ Travel and Hospitality Competency offers a comprehensive suite of technology solutions and services, facilitating the industry's digital transformation. These solutions encompass customer and operational data management, digital interactions, interconnected smart asset experiences and the modernization of core travel and hospitality applications.
Alphabet’s Google has partnered with hotel chains to introduce Nest Hub smart displays and Google Assistant into hotel rooms. This voice assistant leverages the hotel's database to provide personalized information about available services, promotions and special offers, enhancing the guest experience.
As the hospitality industry continues to evolve, the adoption of cutting-edge technologies will be crucial for businesses to stay competitive, meet customer demands and deliver exceptional experiences.
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