World Panel
Viewpoint19 June 2019

Investing in Technology Innovation - How Much is Enough?

Information Technology

— 13 experts shared their view

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This viewpoint was created by
Lyle Worthington, Technology Executive and Consultant & Past President of HFTP Global
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HITEC Europe
Klaus Kohlmayrsupplier view
Chief Evangelist at IDeaS Revenue Solutions

A huge chasm exists between investment in technology at the brand or chain level and the investment (and adoption) of technology at the owner/property level. At the chain level CEOs and boards have realized that technology is at the core of creating competitive differentiation. Not to invest in technology would mean leaving the playing field open to tech-savvy startups, OTAs and AirBnB, which means eventual slow death. All the large brands have poured hundreds of millions of dollars into technologies to enable more seamless experiences and higher stickiness for their guests.

On the other hand, at the property and owner level, technology does not have the same priority. However, squeezed by increasing labor and distribution costs, I predict we will see an acceleration of automation and technology adoption. Finally, with devices starting to “talk” to each other, the Internet of Things will bring a new wave of productivity and efficiency gains for hotels.

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