Steve Jobs as soon as stated, “The mark of an innovative company is not only that it comes up with new ideas first, but also that it knows how to leapfrog when it finds itself behind.” There is, maybe, no extra related sentiment to use to the hospitality trade – a sector that’s constantly molded by the fireplace of client choice but usually totally immune to the crashing waves of technological change.
Of course, this isn’t a novel statement; hospitality has lengthy been criticized for its gradual adoption of new-age expertise and processes. However, it’s a actuality that bears repeating, each to determine the progress but to be made – and alternatives but to be explored – and to focus on the leaders who empower hospitality manufacturers to leapfrog when the remainder of the trade stays rooted within the legacy previous. Feng Ou and Ted Zhang, the founders of DerbySoft – the main supplier of high-performance distribution companies to the hospitality trade – are undoubtedly leaders by this definition.
I not too long ago had an insightful dialog with Feng Ou. We mentioned his expertise beginning up in Silicon Valley, the evolution of DerbySoft, and potential methods for hoteliers to maintain up with market modifications.
Feng shared his journey, transitioning from centralized to distributed computing, the publicity he gained to progressive applied sciences just like the Internet, and the shift from a single location to widespread connectivity via TCP/IP expertise. We additionally talked about DerbySoft’s entry into the journey trade, and he candidly shared the challenges they confronted, together with the numerous affect of the 9/11 tragedy, SARS, the worldwide finance disaster, and the pandemic on the journey trade.
Feng mentioned his views on current tech tendencies and the obstacles the sector should deal with. He emphasised the necessity for built-in expertise, sturdy knowledge safety, and knowledge sovereignty. On the topic of future applied sciences, he acknowledged the potential of AI and VR. He additionally careworn the significance of effectively utilizing sources worldwide and the necessity for companies to adapt to tech modifications to stay aggressive constantly.
As our discuss got here to a detailed, he steered potential enterprise alternatives that lodges can discover over the following 5 to 10 years. Feng inspired growth into contract charge buildings, business-oriented journey, and diversification into associated industries. In closing, he highlighted the essential half human useful resource diversification performs. Feng steered a mix of increasing enterprise domains, steady technological innovation, and numerous human sources as a profitable technique to remain aggressive within the quickly evolving enterprise setting.
Getting to Know Feng Ou
Feng first arrived within the US in 1990 from Beijing, China, the place he studied and labored to pursue additional training. He earned his Master of Science in Electrical Engineering diploma within the area of picture databases from the University of Washington. Shortly thereafter, Feng moved to New York to pursue higher expertise alternatives at a time when stylish new improvements, like object-oriented programming (OOP), distributed computing, and web expertise, have been first taking form. Before lengthy, Feng secured a place as an engineer on the earth of high-risk buying and selling on Wall Street.
“I was hired by a major Wall Street investment bank as a programmer in charge of distributed computing; my team built a new derivative trading system,” he explains. “In the early ’90s, computing went in one of two directions – either a centralized system relied on like the IBM mainframe or minicomputers – or go the way of distributed computing, which relies on each individual system, like HP or Sun workstations.” Feng discovered himself navigating a key inflection level in buying and selling historical past (the transition from centralized techniques to distributed techniques), and the system he constructed alongside his staff was one of many early sensible spinoff buying and selling techniques for Wall Street.
This groundbreaking work quickly attracted the eye of a startup firm within the San Francisco Bay Area, and Feng left Wall Street for the world’s foremost expertise start-up hub: Silicon Valley. Interestingly sufficient, Feng and Ted nonetheless had not crossed paths regardless of attending universities close to to at least one one other in Beijing. And, it wasn’t even their respective work within the expertise sector that first introduced them collectively. “It was through the Silicon Valley Chinese engineering community that Ted and I got to know each other,” Feng shares. “We realized there was an opportunity to work together. So Ted and I began that journey in 1999 as the dot-com bubble took shape.”
An Inside Look on the Rise of DerbySoft
Feng and Ted based DerbySoft in 2002 after returning to Shanghai from Silicon Valley. “We wanted to build a new hotel distribution paradigm,” Feng explains. “The fundamental catalyst that brought Ted and me together was the realization of our shared values – we were willing to do just about anything to bring value to our customers, and neither of us was willing to give up until the goal was achieved.”
Their mission, in its most straightforward type, was to make the journey enterprise—a notoriously sophisticated enterprise—a lot simpler. This led them to launch their first connectivity product, Build, in 2006, which made it potential for lodges to record on distribution channels. By 2007, the corporate had established partnerships with Hilton and InterContinental lodge teams, and by 2008, the Hilton CRS was efficiently linked to Booking.com.
In 2011, DerbySoft was named Google’s world associate, and that very same 12 months, the corporate’s platform crossed the 700,000 room nights processed per 30 days threshold. Fast ahead to at this time, and DerbySoft has grown to incorporate greater than 80 world lodge chains, 200 plus distribution companions with over 900 connections worldwide, over 227,000 properties globally, and greater than 400 workers.
When requested what has contributed to the corporate’s success, Feng highlights their efforts in constructing a really environment friendly, globalized group.
“This industry has tremendous business opportunities from many perspectives,” he notes. “An efficient execution team is the most integral advantage for any hotelier. This non-negotiable approach has been at the core of our business from day one. Shared values and a willingness to keep innovating are at the heart of everything we do.” Feng goes on to elucidate that the inspiration of DerbySoft might be damaged into three parts: in-depth expertise, experience in a problematic area, and best-in-class work ethics.
“We possess a deep understanding of our work domain and have adopted a balanced, practical, and cost-effective way to tackle every challenge we encounter. We understand our positions and are willing to tackle challenges seriously,” Feng shares. “Any hotel brands – big chains, in particular – have to work closely with technology vendors to effectively optimize the distribution of their services. This is becoming more and more challenging today, considering changes in the global environment. With this in mind, our technology is simple, efficient, and completely streamlined.”
DerbySoft’s Connectivity Suite, for instance, takes a number of techniques and connects them via a single implementation to offer our companions uninhibited entry to distributors and suppliers. Similarly, the corporate’s Property Connector is positioned as an AI-powered, “one-stop-shop” administration platform for lodges of all sizes that delivers real-time availability, charges, and stock whereas offering quick entry to 500+ distribution channels.
Coding Hospitality’s Future
Feng envisions a future the place expertise performs an more and more important function within the hospitality trade. He believes that developments in synthetic intelligence (AI) and machine studying (ML) will revolutionize the way in which lodges function, from customer support to operations administration.
Another space the place Feng sees potential for technological innovation is in knowledge analytics. He believes that by harnessing the ability of huge knowledge, lodges can achieve invaluable insights into their friends’ preferences and behaviors. This will permit them to tailor their choices to fulfill particular wants and desires.
When it involves the present financial setting, Feng notes that lodges are more and more delicate to price. Simultaneously, the present geopolitical panorama has prompted lodges to emphasise knowledge safety and protecting knowledge compliance necessities. “We address these concerns within our offering,” he explains. “We work hard to ensure we are the most cost-effective solution on the market, and we take great care to ensure compliance with data security rules across the globe.”
Of course, Feng provides, everyone seems to be presently fixated on the emergence and continued evolution of AI expertise. “I think AI will fundamentally change the travel industry,” he shares. “To start, it will transform efficiency using data. Then, we will likely see the emergence of AI-powered rate forecasting – things like Dynamic Packaging. After that, AI-powered chatbots will be leveraged for services, and eventually, we will see new BI platforms emerge with AI capabilities and enhanced revenue management tools.”
As for what’s subsequent for DerbySoft, Feng shares his want to broaden companies to broader inventories. “As an example, we need to work on contract rates besides focusing more on public rates. For products, we need to expand to other lodging services and non-lodging services, such as ticketing, etc.,” he explains. “Along with general business expansion, we intend to pay close attention to more cutting-edge technology applications, such as AI and VR. The three axes will continue to define our efforts in tandem: business domains, technology advances, and a globalized team.”
Overall, Feng sees a future the place expertise is not only an add-on however an integral a part of the hospitality trade. He believes that those that embrace these technological developments will thrive.
About Puzzle Partner
Puzzle Partner is a advertising and marketing company targeted solely on the complicated B2B initiatives of hospitality and journey expertise innovators. By combining trade experience, strategic considering, and keenness for delivering distinctive outcomes, the company helps purchasers obtain their enterprise targets and keep forward in aggressive markets. With its deep understanding of the hospitality and journey sectors, Puzzle Partner has established itself as a trusted advisor to main world manufacturers. The company’s insights and holistic methodologies have helped purchasers navigate the evolving advertising and marketing panorama, maximize model publicity, and drive income progress.
To study extra, go to puzzlepartner.co.
Alan Young
Puzzle Partner Ltd.
705-718-5153
Puzzle Partner Ltd.