Technology is changing everything; from the homes we live in to how our cities are managed. The hospitality industry is no exception. In many ways, the hospitality industry is leading the charge in the adoption of smart business technology.
From operations to guest experience to marketing, smart hotel technology offers a variety of cost savings and revenue opportunities, enabling the hotel owners to reach new levels of profitability. In this article we have listed thirteen ways in which smart technology will be reshaping the hotel industry in the very near future.
The technology is changing the structure of hospitality sector since last few years. Rise of Online Travel Agents (OTA) disrupted the hospitality sector. In India, in 2019, OTA accounted for 21% of the total bookings and is growing at 40% y-o-y. Key OTA platforms in India are MakeMyTrip, Clear Trip, Yatra and others.
In addition to the traditional franchisors model, technological disruption has resulted in two more hospitality models, namely, Home sharing model, and a hybrid home-sharing model.
Therefore, smart features will be more adopted in this industry, owing to the pressure of well-being and reducing margins. As trend has already started emerging of convergence of traditional hotel franchisors, aggregators and OTAs; it will only grow further in coming times. We will witness adoption of business models owing to the technology more in coming years.
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