World Panel
Viewpoint19 June 2019

Investing in Technology Innovation - How Much is Enough?

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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?

This viewpoint was created by
Lyle Worthington, Technology Executive and Consultant & Past President of HFTP Global
HITEC Minneapolis
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This Viewpoint is part of the HITEC Minneapolis panel

Investing in tech is scratching the surface of the issue. Yes, there needs to be a heightened spend on tech and IT, but what's more important is investing in an IT team that is just as innovative as the tech you're implementing. Make a solid investment on an IT team that has a genuine tech-architectural background, then utilize that team to find efficient tech solutions. That team doesn't have to have a hospitality background – bringing in someone with an outside scope provides a keen insight into tech solutions outside of the hotel space that would truly benefit your hotel. As a result, tech solutions will be implemented to truly fit the needs of the individual hotel/hotel chain and your knowledgeable IT team will be well-suited to understand and operate these new solutions.

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