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?
The pricetag will vary by hotel and hotel group, but the end goal is always the same: enough is when your hotel brand is able to delight its guests throughout the entire guest journey, all while streamlining its operations and finding ways to increase its revenues. How can hotels do this? By investing in the right technology. Smart, innovative technology. Technology that works together seamlessly and can automate mundane processes. apaleo's property management system allows for this, with the industry's only API-first approach and pre-connected systems that allow data to flow.
In the past this type of innovative technology was limited to the bigger chains that could afford investing tons of money. Nowadays, with an API first approach, open platforms, connected apps and in particular the true native cloud PMS of the newest generation, this picture has certainly changed. Any hotel group or hotel can put a great guest journey in place with limited effort and at very reasonable expenses. Hurdles that existed before such as up front or project fees, interface licenses, or certification cost do not exist any more in the modern world of hotel technology.