Investing in Technology Innovation - How Much is Enough?
In the first viewpoint of this panel, several experts weighed in that the Hospitality Industry does not properly invest in technology innovation. Apple spent about $15 billion in research last year alone… or 5.5% of its annual gross revenue. We ask ourselves these questions: Is this level of investment purely in R&D also necessary in our industry, and is it possible to get that kind of money? What's your take?
Professor at Ecole hôtelière de Lausanne
It should be. As an industry we should take a more collaborative approach to R&D. We do too much in silos. It would be great to see more companies and technology providers coming together and creating a place of R&D for the overall betterment of the hospitality industry. For the funding we need to see hotel companies and technology providers as well as various associations come together.