Why Investing in Hospitality Technology is Investing in Good Business
By Paul van Meerendonk Director of Advisory Services, IDeaS Revenue Solutions | November 2014
As the wider hospitality industry continues to face a slow recovery, savvy hotel owners and managers should be looking inwards during this time with a view to ensuring that the technology they use to help run their facilities are best suited for the roles they have to perform.
Whilst many international hotel organisations have used the economic downturn to adequately plan for the future through improved levels of technology and staff investment, many others are not heeding the warning signs and are instead shedding costs wherever possible – which can lead to disastrous consequences.
No one knows for sure if the current 'green shoots' being reported in the media will lead to a rapid or sustained economic recovery, but all pundits agree that there is definitely some recovery and eventually the situation will improve. Will markets return to normal? The question to ask is what's normal in the post GFC era? 'Normal' in 1996 meant something completely different to 'Normal' in 2006.
Progressive hospitality organisations that have currently heeded the warning signs that dynamic markets and changing industry requirements are part of the new 'normal,' and have taken the time to update or invest in the right technology and training, will be better placed to effectively conduct business in the market place of 2010, 2011 and beyond. To quote Bob Dylan 'The times they are a changin.' Hoteliers across the globe need to ask themselves - what are they doing to position themselves for this?
In consideration of how investment in hospitality technology can support business growth, rather than being an added cost, or unnecessary financial burden, to a hotel – it is important to look at what operational efficiencies the technology can bring, including any improvements in staff activities and morale that can be delivered and how the technology will ultimately benefit the hotels revenue performance.
There are many technologies that tick all of the above boxes, including: