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anonymous

What's Driving IT Investment in 2011? | News | Hospitality Magazine (HT) - 2 views

hospitalitytechnology.edgl.com/...ng-IT-Investment-in-2011-73634

shared by anonymous on 06 Feb 12 - No Cached
  • “Advances in wireless and mobile technologies, products and services are changing the landscape of the hospitality industry and how it operates,” says Craig Mathias, principal, Farpoint Group. “With a demanding client base equipped with increasing numbers of smartphones, tablet computers, notebook PCs and even rugged devices, successful hospitality IT organizations recognize the need to upgrade their existing WLANs to improve network reliability, capacity and coverage to support customer-facing applications, as well as internal services that enable their own mobile workforce and improve the guest experience.”
  • Elevating the guest experience
  • The Motorola Solutions 2011 Hospitality Market Barometer reveals that 91 percent of hospitality decision makers realize the increasing importance of mobile and wireless technology, while 78 percent recognize the role mobility plays in ensuring a competitive advantage for their business.
  • ...20 more annotations...
  • Enabling operational efficiency
  • Empowering the mobile worker
  • Fifty-six percent of hospitality organizations plan to raise mobile investments to better equip their workforces, improve operational efficiencies and enhance the customer experience.
  • Advances in wireless and mobile technologies, products and services are changing the landscape of the hospitality industry and how it operates,” says Craig Mathias, principal, Farpoint Group . “With a demanding client base equipped with increasing numbers of smartphones, tablet computers, notebook PCs and even rugged devices, successful hospitality IT organizations recognize the need to upgrade their existing WLANs to improve network reliability, capacity and coverage to support customer-facing applications, as well as internal services that enable their own mobile workforce and improve the guest experience.”
  • Improved guest experience is the top driver for mobility investments, cited by 76 percent of hospitality venues surveyed. Hospitality decision makers are investing in mobile technologies to support customer-facing applications that improve guest services by handling wireless email, guest/attendee check-in, table-side order/payment or event ticketing, among others. Sixty-one percent of respondents plan to deploy some form of video capabilities, including video surveillance, video conferencing and streaming video, in public access areas such as lobbies. Fifty-eight percent of surveyed hospitality organizations deploying mobile technology today see improved customer satisfaction. 
  • Key facts from the survey
  • A recent Motorola Solutions, Inc. study uncovered that information technology (IT) spending in the hospitality industry is expected to increase in 2011, with guest experience cited as the top driver for investment.
  • The Motorola Solutions 2011 Hospitality Market Barometer reveals that 91 percent of hospitality decision makers realize the increasing importance of mobile and wireless technology, while 78 percent recognize the role mobility plays in ensuring a competitive advantage for their business.
  • Elevating the guest experience
  • Improved guest experience is the top driver for mobility investments, cited by 76 percent of hospitality venues surveyed.
  • Hospitality decision makers are investing in mobile technologies to support customer-facing applications that improve guest services by handling wireless email, guest/attendee check-in, table-side order/payment or event ticketing, among others. Sixty-one percent of respondents plan to deploy some form of video capabilities, including video surveillance, video conferencing and streaming video, in public access areas such as lobbies.
  • Fifty-eight percent of surveyed hospitality organizations deploying mobile technology today see improved customer satisfaction. 
  • Empowering the mobile worker
  • Fifty-nine percent of respondents currently deploying mobile and wireless technology witnessed an increase in employee productivity and efficiency, while 55 percent saw improved sales results.
  • Currently, the most popular applications on two-way radios are project management (51 percent) and collaboration (41 percent). Unified messaging and remote management/monitoring have the highest rate of planned deployments into 2012.
  • Among survey respondents, tablets and VoIP handsets are the top two mobile devices planned for new deployments by 2012.
  • Enabling operational efficiency
  • Seventy-five percent of hospitality organizations surveyed already have wireless LAN (WLAN) installed in their facilities.
  • “Advances in wireless and mobile technologies, products and services are changing the landscape of the hospitality industry and how it operates,” says Craig Mathias, principal, Farpoint Group. “With a demanding client base equipped with increasing numbers of smartphones, tablet computers, notebook PCs and even rugged devices, successful hospitality IT organizations recognize the need to upgrade their existing WLANs to improve network reliability, capacity and coverage to support customer-facing applications, as well as internal services that enable their own mobile workforce and improve the guest experience.”
  •   More than one third of survey respondents represent companies exceeding $1 billion in revenues. Responses came from the executive suite, IT functions and managers closest to the day-to-day implementation of mobile solutions.
  • kabir joshi on 06 Feb 12
     
    "The Motorola Solutions 2011 Hospitality Market Barometer reveals that 91 percent of hospitality decision makers realize the increasing importance of mobile and wireless technology, while 78 percent recognize the role mobility plays in ensuring a competitive advantage for their business. As a result, hospitality venues are investing in new technology, as well as powerful wireless networks to handle greater data volumes and increasing demands for high-speed access from the customer and mobile workforce. "
  • ...12 more comments...
  • kabir joshi on 06 Feb 12
     
    This is a survey from The Motorola Solutions , it reveals how IT investment is gaining pace in hospitality industry. The resuults reveals that 91 percent of hospitality decision makers realize the increasing importance of mobile and wireless technology, while 78 percent recognize the role mobility plays in ensuring a competitive advantage for their business. As a result, hospitality venues are investing in new technology, as well as powerful wireless networks to handle greater data volumes and increasing demands for high-speed access from the customer and mobile workforce.
  • ning sun on 22 Mar 12
     
    Widely utilization and application of IT technology especially wireless and mobile technology are expected to increase in recent years.More and more hospitality organizations are realize the important role the mobile investment played in improving operational efficiency and enhance the customer experience. With wireless devices, hospitality organizations can save time of doing guest/attendee check-in, table-side order/payment or event ticketing which will improve operation efficiency and customers' satisfaction. According to survey results, tablets and VoIP handsets are the top two mobile devices planned for new deployments. Furthermore, right IT investment will increase revenues and have a good sales.
  • Prince Wayne on 25 Mar 12
     
    Motorola Solutions, Inc (MS) conducted a study and discovered that IT (information technology) spending is expected to rise in the hospitality filed in the years to come, practically in 2011. The main reason for the increase in spending on IT is because of the guest experience. According to MS, fifty- six percent of hospitality establishments plan to increase mobile investment to better outfit their workforces, advance operational efficiencies and boost the customer experience. The survey main facts included three areas; One, to elevate the guest experience Hospitality decision makers are investing in mobile technologies to support customer-facing applications that improve guest services by handling wireless email, guest/attendee check-in, table-side order/payment or event ticketing, among others. Two, to empower the employees by giving them the correct tools, fifty-nine percent of respondents currently deploying mobile and wireless technology witnessed an increase in employee productivity and efficiency, while 55 percent saw improved sales results. Finally, to enable operational efficiency, improvement, reliability, and extending range of current wireless data networks are the top three drivers behind 802.11n WLAN adoption - all critical network features to meet greater data volumes and increasing demands for access from the customer and mobile workforce. Seventy-five percent of hospitality organizations surveyed already have wireless LAN (WLAN) installed in their facilities. In North America, approximately one third of these venues have 802.11n, while European venues predominately have 802.11b/g.
  • Yichen Yang on 23 Oct 12
     
    This article is introducing a survey about information technology in the hospitality industry. It shows that there was a speedy increasing in IT investing which is aiming to improve customers' satisfaction and experience. Almost fifty-six percent of hospitality organizations plan to equip IT devices inside their organizations. Also, ninety-one percent of the hospitality decision makers have realized the importance of the mobile and wireless technology. There are three key facts that show the outcome of the survey. The first is to elevate the guest experience. The hotels are investing mobile and wireless technologies, also the video capabilities to improve customer satisfaction. The second one is to empower the mobile worker. The managers, security personnel and customer services all needs some applications to ensure the work efficiency and keep the management productive. The third one is to enable operational efficiency. It shows that the hotel wants to expand the ability of wireless and data transportation.
  • Yue Li (3011472) on 24 Oct 12
     
    IT investment becomes a big part of the investment in the hospitality industry. A research had been done in 2011 to find what factors drive IT investment in the hospitality industry. There are three main factors, which are elevating the guest experience, empowering the mobile worker, and enabling operational efficiency. Management finds that improved guest experience is the top driver for mobility investment, and over half percentage of the respondents witnessed an increase in employee productivity. IT investment also enables operational efficiency and it is said that 3/4 of the hospitality organization have WLAN installed in their facilities. In my opinion, I believe it is the trend to invest in IT, because people cannot live without modern technology nowadays, and even if you do not want to change, your competitors will do so, which will ultimately makes you out of the market. So IT investment is very important, and businesses in the hospitality industry need to take more concern on IT investment.
  • Minghui Zheng on 25 Oct 12
     
    The Motorola Solutions, Inc. study exposed that information technology spending in the hospitality industry is expected to increase in 2011, with guest experience cited as the top driver for investment. Mobility investments can elevate the guest experience by handling wireless email, guest check-in, tableside order/payment or event ticketing. Managers can empower the mobile worker by using smartphone. Installing the wireless LAN (WLAN) can enhance operational efficiency. Motorola Solutions conducts market research and provides indicators of the opportunities and challenges that mobility poses to hospitality enterprises.
  • Kelly Baptist on 26 Oct 12
     
    This article shared information from a Motorola Solutions, Inc. study predicting that information technology (IT) spending in the hospitality industry would increase in 2011, with guest experience cited as the top driver for investment. The study revealed that 91% of hotel decision makers recognized the importance of mobile and wireless technology and that they would be focused on enhancing guest experience, empowering the mobile worker, and enabling operational efficiency. Motorola Solutions conducts independent market research and collected surveys from 161 qualified participants. I found this article relevant because guests are now expected the hotels they stay at to be able to meet their technological needs. I attended a conference just this week and heard multiple attendees ask if the hotel had wifi and how/where to access it. Nowadays, it's more of a necessity than an option for hoteliers to make the decision to invest in technology. Not only does this investment meet guests' needs and increase satisfaction, but it also benefits employees. According to the article, over half of the survey respondents who use wireless and mobile technology in their workforce saw increases in employee productivity and efficiency. Often times, if employees are able to be more productive and efficient on the job, there is a positive correlation with guest service and satisfaction. Thus, IT investments are crucial for hoteliers to make.
  • Shuqiong Huang on 26 Oct 12
     
    This article is talked about the IT trend in hospitality industry. From a recent Motorola Solutions, Inc. study, it showed that information technology(IT) spending in the hospitality industry is expected to increase in 2011. What is more, 91% of hospitality decision makers realize the increasing important of mobile and wireless technology. Then it introduced some key facts from the survey. They are elevating the guest experience, empowering the mobile worker and enabling operational efficiency. Advances in wireless and mobile technologies, products and services are changing the landscape of the hospitality industry and how it operates. Successful hospitality IT organizations recognize the need to upgrade their existing WLANs to improve network reliability, capacity and coverage to support customer-facing applications, as well as internal services that enable their own mobile workforce and improve the guest experience. This is the information technology trend for hospitality industry. And IT will become an indispensable part in hospitality industry.
  • anonymous on 27 Oct 12
     
    Just like the saying in the article, in 2011, the investment is mostly focus on the mobile investments. As we know that with the development of the internet, more and more people can not live without the internet. So, it is very important for hotel or hospitality industry to put investments on this section. It is become the necessary part of the hospitality industry. So, increase the investments of mobile and internet will bring a strong advantages for your business and make you stand on the market.
  • cbespinel on 28 Oct 12
     
    The hospitality industry is investing in new technology to satisfy guests demands, it is important for hotels to provide wireless connections that are fast and reliable, this now also considered part of the guest experience.
  • Mohan Song on 07 Mar 13
     
    A recent study uncovered that information technology (IT) spending in the hospitality industry is expected to increase in 2011, with guest experience cited as the top driver for investment. 56% of hospitality organizations plan to raise mobile investments to better equip their workforces, improve operational efficiencies and enhance the customer experience. 91% of hospitality decision makers realize the increasing importance of mobile and wireless technology, while 78 percent recognize the role mobility plays in ensuring a competitive advantage for their business. Based on elevating the guest experience, empowering the mobile worker and enabling operational efficiency, a survey about this was set up. With a demanding client base equipped with increasing numbers of smartphones, tablet computers, notebook PCs and even rugged devices, successful hospitality IT organizations recognize the need to upgrade their existing WLANs to improve network reliability, capacity and coverage to support customer-facing applications, as well as internal services that enable their own mobile workforce and improve the guest experience.
  • Hana Musilova on 10 Mar 13
     
    Nowadays more than ever does technology make a difference in how we run our operations, how effective our operations are which results in how satisfied our customers are. The article What's Driving IT investment in 2011 talks about the advances in the hospitality industry providing us with some important statistics in IT investments. According to the article, technology spending is expected to increase with the focus on customer experience. Fortunately, the statistics shows that 91 percent of hospitality decision makers realize the importance of mobile and wireless technology. As stated in the article, hospitality venues invest in new technologies to improve operational efficiencies and to enhance customer experience. As the survey shows, customer experience is the number on priority and driving force for implementing new technology. Hospitality properties also invest in technologies that enhance the check in procedures, wireless e-mail or table side orders and payments. After implementing new technologies, 59% of respondents to the survey taken could see improve employee efficiency and 55% saw improved sales results. According to the survey that was filled out by 161 respondents representing variety of hospitality enterprises, 58% saw improved customer satisfaction. Even though this article does not state which technologies in particular yielded these results, it is still important to see that investing in IT technologies does make a difference in customer satisfaction, employee efficiency and sales improvement. Many properties are afraid to invest new technologies, as they are unsure of the final results of the investment. I am strongly convinced that in order to keep up with the competition and the supply in the market, business had to take the technology route and use it to their fullest advantage.
  • Ruoxi Wang on 23 Oct 13
     
    The article analyzed why hotels do investment to It in 2011. It concluded three main reasons, which are elevating the guest experience, empowering the mobile worker, and enabling operational efficiency. It's already 2013 now and things can become different. Hotels should invent carefully according to its specific necessary and customers' necessary.
  • anonymous on 22 Sep 15
     
    Dear team! I found an article, very old but to me, very actual and interesting about how the Internet Technology is improving and progressing, and the investment bring benefits only. In 2011 , only 4 years ago, we can see that the companies were having a clear plan to improve the communication system. By introducing wireless, tablets, WLANs , to improve network reliability... Today we have it all on hands. We are using all the devices online , wireless and with no problem to access. No cords on the floor, no telegrams ... Internet technologies is a big progress in our century and is developing and growing, by leaving some of us behind. :)
Jennifer Koren

Investment in Hotel Technology Pays Off with Increased Group Revenue - Charmed by Hospi... - 5 views

hospitality.cvent.com/...f-with-increased-group-revenue

IT Technology Hotels Hospitality

shared by Jennifer Koren on 18 Jul 12 - No Cached
  • Hotels, conference centers and other meeting venues are increasing group business with new technology, and it isn’t just a hotel app. To invest in the property’s overall capital, hoteliers are creating cool technology tools that market venues, increase group business and enhance the guest experience. Technology is just another way hotels are winning group business and marketing a hotel or conference center. What are some of these new hot tools for leisure and business travelers?
  • Investment in Hotel Technology Pays Off with Increased Group Revenue Tuesday, July 10, 2012 by Sarah Vining Hotels, conference centers and other meeting venues are increasing group business with new technology, and it isn’t just a hotel app. To invest in the property’s overall capital, hoteliers are creating cool technology tools that market venues, increase group business and enhance the guest experience. Technology is just another way hotels are winning group business and marketing a hotel or conference center. What are some of these new hot tools for leisure and business travelers? Virtual concierge service on guest room TVs At Hyatt Hotels with in-room HD TVs by Roomlinx Inc., guests are able make service requests, check email/weather, use the Business Center, print documents, and receive customized messages from meeting planners. Service requests like housekeeping and in-room dining are instantly sent through the system, improving the venue’s departmental efficiency. All of these virtual functions are hoped to appeal to new markets and drive group business. More efficient billing In the article, “Insert IACC blog post title URL” we learn that in 2012, meeting and group planners are prioritizing finance as very important during in their planning process (which made the top 10 list for the first time). Hotels making large investments in revenue management systems are taking advantage of new features that automate and process data to improve efficiency and increase revenue for properties. Virtual business centers Socialization through technology and food and beverage outlets is increasing revenue for TRYP by Wyndham in the NYC Times Square South property. Google TVs and access to Google Chrome laptops near the Gastro Bar in the hotel’s lobby offers guests an opportunity to enjoy a dining experience with the comfort of complimentary technology use. On-staff IT team When planners were surveyed, reliability was listed as a top concern of IT services in the white paper “What Do Planners and Trainers Really Want in Their Meeting Service?” All IACC-certified conference centers are required to have an on-site IT team to ensure technology functions properly. Now, the need for a knowledgeable IT team that really understands technology and can cater to individuals and group business is spreading to other hotel markets.   These impressive technology tools improve the guest experience and lead to a quick return on investment, especially in F&B. As we move beyond the discussion of required hotel Wi-Fi services, there will be a focus on technology amenities that provide the same comforts of home or the office. To increase group business, hoteliers are comfortable with this investment knowing there’s a return on investment with generated buzz/venue marketing and satisfied guests. Want to learn about other ways hotels are using technology to build relationships? Check out Enhancing Your Social Networking Site with a Social Concierge! to maximize social media and connect with guests, attendees and planners!
  • More efficient billing
  • ...19 more annotations...
  • Service requests like housekeeping and in-room dining are instantly sent through the system,
  • ensure technology functions properly.
  • Virtual concierge service on guest room TVs
  • On-staff IT team
  • Virtual business centers
  • To invest in the property’s overall capital, hoteliers are creating cool technology tools that market venues, increase group business and enhance the guest experience.
  • Virtual concierge service on guest room TVs
  • These impressive technology tools improve the guest experience and lead to a quick return on investment, especially in F&B.
  • On-staff IT team
  • Hotels, conference centers and other meeting venues are increasing group business with new technology, and it isn’t just a hotel app. To invest in the property’s overall capital, hoteliers are creating cool technology tools that market venues, increase group business and enhance the guest experience. Technology is just another way hotels are winning group business and marketing a hotel or conference center.
  • Virtual concierge service on guest room TVs
  • More efficient billing
  • As we move beyond the discussion of required hotel Wi-Fi services, there will be a focus on technology amenities that provide the same comforts of home or the office. To increase group business, hoteliers are comfortable with this investment knowing there’s a return on investment with generated buzz/venue marketing and satisfied guests.
  • On-staff IT team
  • Virtual business centers
  • To increase group business, hoteliers are comfortable with this investment knowing there’s a return on investment with generated buzz/venue marketing and satisfied guests.
  • Technology is just another way hotels are winning group business and marketing a hotel or conference center.
  • These impressive technology tools improve the guest experience and lead to a quick return on investment, especially in F&B. As we move beyond the discussion of required hotel Wi-Fi services, there will be a focus on technology amenities that provide the same comforts of home or the office. To increase group business, hoteliers are comfortable with this investment knowing there’s a return on investment with generated buzz/venue marketing and satisfied guests.
  • Hotels making large investments in revenue management systems are taking advantage of new features that automate and process data to improve efficiency and increase revenue for properties.
  • Mengchao Li on 18 Jul 12
     
    Hotels developing High IT technology have taken a great deal of advantages from it which makes prosperous business and better customer service with high efficiency and goal-achieving process. In this article, it proclaims some prevailing high-techs used in hotels. Such as the In-room HD TV in Hyatt properties. It provide almost all the online computerized services accommodating customers with document-printing service, in-room dining service, restaurant reservation service, and even the email-checking, weather checking service. The on-staff IT team would oversee the IT application over the whole property, including upgrading, maintaining, and functioning. the impressive technology tools would be inevitable trend developing hotel industry.
  • ...9 more comments...
  • Irine Wallace on 17 Sep 12
     
    "Investment in Hotel Technology Pays Off with Increased Group Revenue Tuesday, July 10, 2012 by Sarah Vining Hotels, conference centers and other meeting venues are increasing group business with new technology, and it isn't just a hotel app. To invest in the property's overall capital, hoteliers are creating cool technology tools that market venues, increase group business and enhance the guest experience. Technology is just another way hotels are winning group business and marketing a hotel or conference center. What are some of these new hot tools for leisure and business travelers? Virtual concierge service on guest room TVs At Hyatt Hotels with in-room HD TVs by Roomlinx Inc., guests are able make service requests, check email/weather, use the Business Center, print documents, and receive customized messages from meeting planners. Service requests like housekeeping and in-room dining are instantly sent through the system, improving the venue's departmental efficiency. All of these virtual functions are hoped to appeal to new markets and drive group business. More efficient billing In the article, "Insert IACC blog post title URL" we learn that in 2012, meeting and group planners are prioritizing finance as very important during in their planning process (which made the top 10 list for the first time). Hotels making large investments in revenue management systems are taking advantage of new features that automate and process data to improve efficiency and increase revenue for properties. Virtual business centers Socialization through technology and food and beverage outlets is increasing revenue for TRYP by Wyndham in the NYC Times Square South property. Google TVs and access to Google Chrome laptops near the Gastro Bar in the hotel's lobby offers guests an opportunity to enjoy a dining experience with the comfort of complimentary technology use. On-staff IT team When planners were surveyed, reliability was listed as a top concern of IT serv
  • Irine Wallace on 17 Sep 12
     
    ARTICLE SUMMARY Hospitality industry is not only using technology to improve customers' experience but also to improve the bottom line as well as increase group use of the property. Hotels operators and owners are increasingly using conference centers and other meeting venues to attract business groups, seminars and conferences with new technology, and it isn't just a hotel app. Many of the branded hotels such as Hyatt Hotels with in-room HD TVs by Roomlinx Inc. are using the technology to allow guests to make service requests, check email/weather, use the Business Center, print documents, and receive customized messages from meeting planners. Hotels are investing in technology to provide these services and to compete effectively.
  • yuzhu li on 24 Oct 12
     
    Due to the market segment of the Groups, hospitality industry has focused on the IT investment on Groups. And there are some technologies for leisure and business travelers like virtual concierge service on guest room TVs, more efficient billing, virtual business centers, and on-staff IT team.  All these implements can benefit hotels and customers with a convenient, reliable, and profitable outcome. Besides that, it is super cool. 
  • Qike Chu on 25 Oct 12
     
    Nowadays, technology becomes one of the most important issue in hospitality industry. More and more hotels are going to pay more attention to their technologies such as APP application. Besides those technologies benefiting leisure travelers, investment in hotel technology also pays off with increased group revenue. Conference and convention become important parts in hotels, which means lots of meetings or events are choose to be held in hotels and lots of hotels decided to target their markets as convention directly. As in this article, it is talking about creating cool technology to increase the revenue based on group business. It stated Hyatt Hotel as an example to put virtual concierge service on guest room TVs, which is object to attract new markets as well as group business. What's more, an on - site IT team are going to be required in order to ensure hotels' technology functions properly. Having this kind of IT team, any questions can be responded fast. Therefore, investment fo those kinds of technology not only can bring more new markets or customers but also lead to quick return on hotels' investments, especially in F&B. 
  • Michael Anthony on 26 Oct 12
     
    I don't understand where this document will print if you don't have a printer with you? Will it print at the front desk somwhere? What if it's confidential information and how secure is this system? If you put more technology and have it be so accesible even when your having a meal you would have to hope that dinners continue to order otherwise you'll never be able to turn the table. Also, some dinners must not be as savy as others and won't like this idea of being able to do everything from the TV in your Hotel room. I know I wont even use the feature at the end of the day I dont feel like playing with tech. Others may want to escape tech because they have been around all through the work day, it may feel like you never stop working.
  • Ting Li on 26 Oct 12
     
    This article talks about the benefit of investing hotel technology. As it mentioned, technology is another way of gaining group business and marketing the hotel and meeting center. Here are four of these new popular tools for travelers. They are Virtual conceirge service on guest room TVs; More efficient billing; Virtual business centers; and On-staff IT team. For the Virtual conceirge service on TV, guests can do many things and request services through this system immediately. It can improve not only the departmental efficiency, but customer satisfaction as well. By using the virtual business center, cutomers can enjoy a dining experience. These impressive technology tools improve the guest experience and lead to a quick return on investment, especially in F&B. To increase group business, hoteliers are comfortable with this investment and they know that there's a return on investment with generated buzz/venue marketing and satisfied guests
  • LU DENG on 26 Oct 12
     
    This is an interesting and useful article that reminds me of the importance of new technology investment in hotels' conference centers and other meeting venues. Technology has become an efficient method in winning group business and marketing a hotel. There are several new hot tools for leisure and business travelers. For instance the virtual concierge service on guest room TVs, efficient billing, and virtual business centers. If a guest is able to make service requests, check email, use the Business Center, print documents and receive customized messages from meeting planners through an in-room HD TV by Roomlinx, the whole departmental efficiency can be improved and the guests' satisfaction can be enhanced to a higher level. This is useful to attract business travelers who care about these areas of service and it also leads to a quick return on investment too. When the discussion of hotel Wi-Fi services has been outdated, the topic of investment in technology amenities that provide the same comforts of home or the office is becoming another focus in hotel industry.
  • Yaping Li on 27 Oct 12
     
    This article introduces some new technology applied in the hotel. Nowadays, the hotel will adopt some new technology to attract more and more guest. Like the article said, "technology is just another way hotels are winning group business and marketing a hotel or conference center". The article introduce the Hyatt Hotels adopt the virtual concierge service on guest room TVs that offer a good service for guest and try to appeal to new markets and drive group business. The article also involves the revenue management system that the hotels are investment can help the hotel deal with data effective and increase revenue for properties. The new technology that the hotel applied will not only improve the guest experience but also can increase the revenue of the hotel.
  • TIAN LIU on 06 Mar 13
     
    Further analyses of our data suggest that as industries become more competitive, the effect of IT on profitability increases. IT investments also had a greater effect on profitability in the service sector than in the manufacturing sector. A possible explanation for this finding is that services allow greater IT-enabled customization and professionalization. One key takeaway from our research: All other things being equal, executives should accord higher priority to IT projects that have the potential for revenue growth over those that focus mainly on cost savings.
  • Xueling Wang on 07 Mar 13
     
    Hotels, conference centers and other meeting venues are increasing group business with new technology. To invest in the property's overall capital, hoteliers are creating cool technology tools that market venues, increase group business and enhance the guest experience. There are some of these new hot tools for leisure and business travelers. 1. Virtual concierge service on guest room TVs 2. More efficient billing: Hotels making large investments in revenue management systems are taking advantage of new features that automate and process data to improve efficiency and increase revenue for properties. 3. Virtual business centers: Socialization through technology and food and beverage outlets is increasing revenue for hotel.
  • Jennifer Koren on 24 Oct 13
     
    This article examines the new technology that hotels are investing in. In room concierge, billing ease, on- staff IT team, and virtual business center all make the hotel guests experience more comfortable and easy. Whether traveling for business or pleasure, the new technology is worth investing in for these hotels.
Siyu Ma

Why Investing in Hospitality Technology is Investing in Good Business - 1 views

hotelexecutive.com/...-is-investing-in-good-business

hotel investment

shared by Siyu Ma on 18 Jul 12 - No Cached
  • 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.
  • 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.
  • Those hotel groups that fail to recognize the speed of change in technology and what this can bring to the business will find themselves significantly under prepared when the market starts to strengthen. While “its never too late” to act – there is a significant opportunity cost in doing nothing or worse still, cutting technology out of the day to day operations. For a hotel to effectively operate and ensure it is maximizing its incoming revenue, the right technologies needs to be in place. Through investing in the right technology at the right time, savvy hoteliers will be ensuring that their facility(s) are able to effectively maximize their ongoing revenue capability now and into the future.
  • ...11 more annotations...
  • Equally as important, when considering whether to invest in new technology within the hospitality sector, is the need to recognize that technology is constantly changing and improving. Decision time frames are shortening. International hoteliers that have a good view on the future, realize that the technology decision they make today will only be relevant for the next 3-5 years at the most and are already planning next generation migrations.
  • 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.
  • 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.
  • Importantly, hoteliers also need to realize that the hospitality industry is constantly changing and a lack of up-to-date technology and older strategies will not always be applicable to new, unique situations.
  • Whilst many international hotel organisations have used the economic downturn to adequately plan for the future through improved levels of technology and staff investme
  • Consider Revenue Management Technology: This technology is u
  • sed in a wide variety of industries.
  • IDeaS experience in many regions to date is that there are many technology vendors in hospitality that fail to acknowledge the above reality.
  • There are many technologies that tick all of the above boxes, including: Energy Management Systems Revenue Management Systems Property Management Systems In-Room Technology Sophisticated Telco Systems
    • Juan Du
      Juan Du on 06 Mar 13
       
      With the increase in the number of hotel, the technology in hospitality is more and more important. It is a good investment in this field. Because many of the facilities in hotel need the help of technology. Such as the energy management systems, revenue management systems, property management systems , In-room technology. To invest these technologies, it can increase the management level and increase the competition.
  • 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.
  • Gerardo Collado on 18 Jul 12
     
    In this weeks reading, the article, "Why Investing in Hospitality Technology is Investing in Good Business", mentions how due to the economic downturn hotels have turn to cutting technology and staff levels as a method to minimize costs, yet this is a recipe for disaster, if not conducted adequately. Technology is continuously evolving, it is important to make decisions regards IT investment that will be useful in the coming 3-5 years. Technological infrastructures should operate to facilitate a process or procedure for the overall benefit of the hotel, rather than take a day-by-day approach. In an ever-demanding industry, it is critical for hoteliers to be adequately prepared with automated systems, reducing if not eliminating important manually conducted tasks which are damaging the operations of the hotel due to the lack of real time information which will help revenue maximization. In moments of recessions, companies minimize their cost reducing what is foreseen as unnecessary such as IT investment, yet is important to maintain a level of preparation and not losing the opportunities presented by the market.
  • ...6 more comments...
  • Jianyi Wang on 24 Oct 12
     
    This article mainly talk about the benefit of investing in Hospitality Technology to hotel business.The author emphasizes the importance of looking at what operational effciencies the technology can bring ,including any improvements in staff activities and morale that can be delivered and how the technology will ultimately benefit the hotel revenue performance. We can conclude from the passage that in order to keep competitive in the hospitality industry, the managers should be aware of the dynamic market and technology changing and update the techonlogy in an efficient way.
  • Linfan Cai on 26 Oct 12
     
    The hospitality industry is developing faster and faster. The hoteliers should be with a view to ensuring that the technology they use to help run their facilities and best suited for the roles. They lead to a rapid economic recovery but they also need improve their marketing. The hospitality organizations have taken the time to update or invest in the right technology and training. In consideration of how investment in hospitality technology can support business growth, It is important to look at what operational efficiencies the technology can bring. As the hotel industry continues to move towards a more dynamic and inter-connected environment it is vital that the correct technology infrastructure is in place to meet this challenge. The revenue management technology itself can be maximized by educating staff in the most effective ways to use it. The hotel groups should recognize the speed of change in technology. And they will be ensuring that their facilities are able to effectively maximize their ongoing revenue capability.
  • Panpan Xie on 05 Mar 13
     
    As hospitality industry is now under recovery, many owners and managers are preparing using technology to help them run the facilities. Nowadays, there is a big requirement for investing the right technology and training to operate business in the market of 2010, 2011 later. Actually, hospitality technology investment can bring operational efficiencies instead of added cost to a hotel. Then the author takes revenue management technology as an example and points that a seamless flow of process of technology is a trend. All in all, in order for a hotel to adapt to the future trend, the right technology needs to be equipped.
  • Juan Du on 06 Mar 13
     
    with the increase in the number of hotel, the technology in hospitality is more and more important. It is a good investment in this field. Because many of the facilities in hotel need the help of technology. Such as the energy management systems, revenue management systems, property management systems , In-room technology. To invest these technologies, it can increase the management level and increase the competition.
  • anonymous on 07 Mar 13
     
    This article is explaining why investing in hospitality technology is a good idea. Market changes from year to year, therefore it is important to know what the technology operations can offer to the business. It is vital to know how efficient it is in the workplace, and in what ways in can help the staff. The interest cost of having all this money invested should benefit the hotels revenue activity. Especially in hotels, there has to be a strict decision making, because of how technology is advancing so fast and how efficient the technology will be for the hotel. The correct technology is a challenge. Training the staff with the system is also a test because how fast can they learn and be connected to the operations. It is crucial that hotels manage systematically all information with the technology; instead of having the staffs do all the work by hand. Hotels need to invest in the correct technology so that they can collect their ideal revenue-for the future of the business and to ease the work flow inside the hospitality industry.
  • yongwei hao on 08 Mar 13
     
    "Equally as important, when considering whether to invest in new technology within the hospitality sector, is the need to recognize that technology is constantly changing and improving. Decision time frames are shortening. International hoteliers that have a good view on the future, realize that the technology decision they make today will only be relevant for the next 3-5 years at the most and are already planning next generation migrations. There is an onus on the vendors to also re-invent themselves and re-invent their technologie"
  • lin liu on 10 Mar 13
     
    Hotel owners and managers are putting eyes on technology in the hospitality industry slow recovery period. All pundits agree this method can bring some recovery. The international hotel organizations have made many plans of improving investment in technology and staff. Progressive hospitality organizations have updated and invested in new technology and training, change the industry requirements and market. Before investment, the most important is to look at what operational efficiencies the technology can bring and how the technology will benefit the hotels. There are many technologies are good choices for investment, such as Revenue Management Systems. This technology is efficient and can help hotels track historic data, forecast future demand and so on. We also need to technology is changing all the time. So this is a big challenge of managers to make decisions for a long development. We also need to realize that the hospitality industry is changing, strategies will not always be applicable to new, unique situations. It is important for hotels to increase advantages in the competition.
  • Siyu Ma on 11 Mar 13
     
    Those hotel groups that fail to recognize the speed of change in technology and what this can bring to the business will find themselves significantly under prepared when the market starts to strengthen. While "its never too late" to act - there is a significant opportunity cost in doing nothing or worse still, cutting technology out of the day to day operations. For a hotel to effectively operate and ensure it is maximizing its incoming revenue, the right technologies needs to be in place. Through investing in the right technology at the right time, savvy hoteliers will be ensuring that their facility(s) are able to effectively maximize their ongoing revenue capability now and into the future.
ahand019

Hoteliers increase investment in enhancing guest experience - 5 views

www.eturbonews.com/...ent-enhancing-guest-experience

shared by ahand019 on 22 Mar 12 - No Cached
    • jessica carvalho
      jessica carvalho on 25 Mar 12
       
      This article is great as it talks about what specifically to this company is important when it comes to their certain aspects of what they want in their i.t. investment. It speaks about all the different benefits that come along with what is going good and what is going bad in this situation and all the different ways they are trying to improve and benefit from it.
  • The solutions associated with the challenges of enhancing the guest experience and presenting a business case to senior management will be discussed by hospitality experts including Daniel Hajjar and Radi Karnib at the 3rd Annual Hotel Technology Middle East exhibition and conference in September. Current exhibitors include: Sony, Jumbo, Mitel, VingCard and Aegis Tech.
  • fifty-six percent of hospitality organisations planned to raise mobile investments to better equip their workforces, improve operational efficiencies and ultimately enhance the customer experience.
  • ...5 more annotations...
  • It is (the IT) a department that evolves on a daily basis and you owe it to your organisation to consider any "new" development ... IT experts must always make a clear differentiation between an investment and an expense.
  • One of the critical challenges for hotel technology managers is convincing upper management to approve investing in the latest technology.
  • You will see an increase in Information Technology (IT) spending within the hospitality industry, with guest experience cited as the top driver for investment
  • 91 percent of hospitality decision makers realise the increasing importance of mobile and wireless technology, while 78 percent recognise the role mobility plays in ensuring a competitive advantage for their business.
  • "It is a challenge to demonstrate that the proposed technology infrastructure will indirectly reflect into a benefit to our business and will keep us up to date with the technology trends and market competition."
  • Mirta Echazabal on 22 Mar 12
     
    IT investment are pushed forward now and days more so for guest satisfaction. A recent Motorola Solutions Inc has uncovered a study that fifty six percent of hospitality organization plan to increase their mobile investment and wireless technology with greater data volumes and high speed access. This will increase drastically competitive advantage for the business and customer experience. Some find it a challenge in convincing upper management to approve investing in to the latest technology. As well as demonstrating that a proposed technology investment will be beneficial for their business and will assist in continuous up to date trends and market competition. I highly agree that technology is a must in this industry, especially how fast it is changing. In order to stay within the competitive advantage and provide convenience for our guest it is necessary to invest and update into the latest technology. The initial investment might be extreme especially if you have been out of date from any recent technology however, with time the results will be returned with satisfied guest and fast paced PMS systems.
  • ...3 more comments...
  • Gian Altamirano on 26 Mar 12
     
    This article speaks on the recent increase in hospitality spending on new and innovative technology advances. One of the leading locations for hospitality, Dubai, is being seen as a front runner in investment. The article also talks about how these technology companies see the potential in the hospitality industry and are focusing their efforts on this business sector. One challenge mentioned is convincing the management of a company to "dish out the money" for the advances. This is a very informative article with an unbiased view point.
  • Michael Anthony on 26 Oct 12
     
    I liked how this article talked about mobile apps, I think it won't be long until we start seeing that replace the existing room keys. The only problem is if some has a lot of apps and a lot of security passwords to bypass, it would take forever to open your room door, you would much rather have a standard room key. However, this creates lots of partnerships with cell phone companies further increasing hotel revenue. You can even save labor with this at the front of house areas. The possibilities are endless.
  • Ashley Reed on 08 Nov 12
     
    Information technology spending is on the rise in the hospitality industry in attempts to enhance the guest experience in the highly competitive market. According to Motorola hotels are looking to increasing mobile investments in the hopes that their staff will be better equipped and that with their new hardware will improve operational efficiency. The article states that 91% of hospitality decision-makers see mobile and wireless technology as the wave of the future, as well as the need for mobility to stay competitive. A few large challenges are: keeping up with cost, ever-changing technology, the need for more bandwidth, and data storage.
  • Mikaela Vourtsis on 04 Mar 13
     
    Information Technology is indispensable in the hospitality industry for several reasons. This article discusses how many hotels are increasing their investment in I.T because of its abundant advantages, especially guest satisfaction. It particularly states how mobile and wireless technology will aid in guests pleasure but ensure competitive advantage as well. They looked at a study of Motorola Solutions Market Barometer of 2011 where they fundamentally determine the emerging trends in the industry and opportunities. They then came to understand that businesses are investing more on hospitality information technology to not only assist in customer retention but to have an overall high-quality system that can manage their daily duties such as inventory, budget, and status of room reservations.
  • ahand019 on 13 Jun 16
     
    This article talks about how hotel companies are starting to invest more in information technology to provide a more enhanced guest experience. A survey done by Motorola Solutions found that 56% of hospitality companies are looking to invest in more mobile technology. While companies are looking to invest more in technology, it has been challenging to convince higher management levels to make the investment. Radi Karnib with Rotana Hotel Management said that it's important to demonstrate the benefits of the investment. Daniel Haijar with Layia Hospitality agrees and goes on to say that it's important to differentiate between what's an investment and what's an expense.
nbakir

New Study Reveals Technology Investment Priorities for Hotels - 0 views

www.hospitalitynet.org/...4095301.html

hospitality technology hotel

shared by nbakir on 05 Feb 20 - No Cached
  • Chain hotels 77% more likely to increase technology investments, while independent counterparts prioritize room renovation
  • Reliance on technology is becoming increasingly important in the lodging industry as hotels begin to recognize how they can gain key competitive advantage with strategic technology investments.
  • cost continues to be the key barrier with technology adoption for many hoteliers
  • ...24 more annotations...
  • technology investment decisions are based on affordability and value.
  • more than half of the chain hotels prioritize technology that seamlessly integrates with their existing systems.
  • small independent hotels surveyed, 1 in 4 cited complexity as their biggest challenge when adopting technology, with 1 in 3 saying ease of use is a priority when evaluating solutions.
    • Angelica Saez
      Angelica Saez on 07 Jul 20
       
      Technology in the hospitality industry is very important. Technology is always used in the hospitality industry and it is evolving more everyday.
  • The study polled 1,215 global hotelier participants in July 2019 for a choice based study to determine how hotel properties are prioritizing their technology investment spend.
  • Partner Central Mobile App improvements
  • New "Rooms and Rates" overview page
  • New "Marketing" overview page
  • New adaptive home page
  • Multi property portfolio dashboard
  • According to a new survey of more than 1,200 hoteliers by Expedia Group, the world's travel platform, chain hotels1 are nearly twice as likely as small independent properties2 to prioritize technology investment. Alternatively, small independent properties are 1.5 times as likely as chain hotels to prioritize room renovations - indicating a gap in technology investment strategies among different hotelier segments.
  • 54% of hotels plan to increase their technology budgets for 2019, while only 8% plan to decrease.
  • Expedia Group is making enhancements to its platform so partners not only have the right resources whenever and wherever they need it, these solutions are delivered through intuitive and easy to use tools.
  • Chain hotels are classified as properties self-selected as part of a chain affiliation or group of properties with more than 100 rooms, while small independent properties are classified as properties with no chain affiliation and 100 rooms or less.
  • with nearly half of the small independent hotels surveyed i
  • chain hotels place significant investments in technology
  • nvest in how best to serve all our partners
  • prioritize with easy to use filters.
  • the simplified view streamlines information
  • new page reduces the number of links
  • managing rooms and rates easier with modified calendar navigation
  • view inventory and availability and make real time updates to reduce errors
  • he page brings the top five countries with the greatest booking opportunity
  • This personalised experience that enable suppliers to identify certain time-sensitive tasks they should take to accelerate booking potential on Expedia Group's marketplace.
  • msbode on 05 Feb 20
     
    This article summarizes the findings taken from research done within the Expedia Group's global hotelier panel consisting of 1,215 hotelier participants that used a choice-based study to compare technology investments between defined hotel chains and small independent hotels. In summary, chain hotels were likely to invest twice as much in technology when compared to small independent hotels. Conversely, small independent hotels were likely to invest more in rooms reservations than chain hotels. The I.T investment strategy varied among the two hotel segments. Small independent hotels choose technology based on affordability, value, and complexity of technology, whereas chain hotels bought technology based on its ability to integrate into their existing systems, the price was not mentioned.
  • ...4 more comments...
  • hectorpachon on 10 Mar 20
     
    I think the biggest reason for the percentage of small hotels to not be thinking (as much as big hotel chains) for technological improvement is ROI. The small hotel chains mindset is to improve their rooms because they are going to give them faster results on the ROI than being edgy on technological advancements. While on the long run, big chains know that they are competing against other big brands to stay ahead on their technological improvements for their guests Even though the difference from big chains to small chains percentage in regards to "planning on increasing budgets on technological improvements for the hotels" is twice as much as small chains plans to increase budgets on "room improvement" which is 1.5. Hector Pachon
  • edagt001 on 17 Mar 20
     
    This article is about chain hotels 77% more likely to increase technology investments, while independent counterparts prioritize room renovation.
  • patrick021 on 08 Jul 20
     
    Technology investment is likely to increase at about 77% in large chains properties. Many properties are investing based on affordability and pertaining to their budgets. Some of them are relying more on their existing systems to integrate with the newer to remain cost efficient. Large hotel groups such as Expedia is taking large risks and movement into investing with properties of small and large chains to help grow the industry along with the development of I.T investments.
  • zihanwang on 30 Jul 20
     
    Reliance on technology is becoming increasingly important in the lodging industry as hotels begin to recognize how they can gain key competitive advantage with strategic technology investments. The study polled 1,215 global hotelier participants in July 2019 for a choice based study to determine how hotel properties are prioritizing their technology investment spend.
  • jasdhami95 on 28 Sep 20
     
    My opinion on this article surrounds my personal experience in the way I have been able to experience third party extranet portals and because of these enhancements that Expedia has developed for hotel partners, I have seen a tremendous amount of return on investment that goes into technology development. Many consumers have been influenced by these third party sites because they offer a type of experience that is different from traditional booking methods and often times consumers are able to snag cheaper rates than they would with booking hotel direct. I would like to see how this trend goes on in future years because I have seen more third party bookings in recent months and it should follow that trend for years to come.
  • nbakir on 21 Oct 20
     
    The article focuses on applying technology in the hospitality industry, based on the study conducted by Expedia Group (Big Think). The article summarized the research study conducted on 1215 hoteliers worldwide, assessing the focus and prioritization of technology investments by these businesses. The study provides that Chain of hotels are twice as likely to invest in technology than SME in the hospitality industries, with these SMEs being 1.5 times more likely to invest in renovations. In the year 2019, approximately 54% of hotels focused on increasing their technology investments, with only 8% focusing on reducing the same. This provided that more hoteliers were willing to "stay ahead of the curve" than those that focused on adopting the "wait and see" approach. In this respect, hoteliers identified that their main technology investments were influenced by the value and affordability of the same and the capacity to integrate them with existing technologies. On the other hand, the main challenges associated with the technologies were complexity, affecting 25% of the respondents, and ease of use, affecting 33.33% of the respondents (Big Think). In focusing on technological advancement, the Expedia Group focused on technological elements such as Partner Central Mobile Application improvements, new "rooms and rate," page improvements, new "marketing" improved pages, new homepages adaptive, as well as multiple-property portfolio dashboards. With regard to the market perspective, digital marketing/website optimization, smart room, reputation management, revenue management, guest check-ins, and payment solutions were the main technological focuses for the hoteliers. Focusing on the reasons hoteliers were motivated to invest in technology, the study established that improving productivity, improving loyalty and repeat visits, improving guest experiences and reviews, reducing costs, and improving revenue generation topped the list.  
Qianlin Wang

The Impact of IT Investments on Profits - 1 views

sloanreview.mit.edu/...t-of-it-investments-on-profits

IT investments technology

shared by Qianlin Wang on 24 Oct 12 - No Cached
  • Investment in IT had a greater impact on a company’s profits than comparable spending on either advertising or R&D.
  • New research finds that investments companies make in information technology increase profitability more than investments in advertising or R&D do.
  • CEOs often struggle with some critical choices as they allocate their companies’ discretionary dollars among various categories of investments.
  • ...2 more annotations...
  • Information technology can be used to increase efficiency and reduce costs, or it can be used to support sales growth through, say, customer satisfaction and customer retention strategies.
  • All other things being equal, executives should accord higher priority to IT projects that have the potential for revenue growth over those that focus mainly on cost savings.
  • jie shen on 24 Oct 12
     
    This article talks about how IT investments related to the profits.The IT investments has a significant positive impact on profitability. Investment in IT had a greater impact on a company's profits than comparable spending on either advertising or R&D.  IT investments offer more room for creativity and innovation. IT investments were more effective in improving profitability by increasing revenue than by decreasing operating expenses.
  • Qianlin Wang on 24 Oct 12
     
    In recent years the combination of new types of IT investments and increasingly constrained sources of revenue have conspired to place information technology investments under a scrutiny they have historically avoided. New research finds that investments companies make in information technology increase profitability more than investments in advertising or R&D do. CEOS often struggle with some critical choices as they allocate their companies' discretionary dollars among various categories of investments. Investment in IT had a greater impact on a company's profits than comparable spending on either advertising or R&D. Information technology can be used to increase efficiency and reduce costs, or it can be used to support sales growth through, say, customer satisfaction and customer retention strategies. Industries become more competitive, the effect of IT on profitability increases.
ivonneyee

Modern Management Technologies in the Hospitality Industry - 2 views

The article talks about how it's worth investing in proximity marketing to increase the speed of a customer's decision, increase engagement, and eloyalty. The article states that marketers who know...

started by ivonneyee on 22 Nov 21 1 follow-up, last by ivonneyee on 22 Nov 21
marble_bird

ITInvestmentAnalysis_Hospitality.pdf - 0 views

shared by marble_bird on 12 Jul 20 - No Cached
  • This study aims to determine the feasibility of IT investment in hospitality and determine the value and tangible/ intangible benefits from IT implementation.
  • Nowadays hospitality thinks that technology can improve business effectiveness and efficiency. Hospitality in Indonesia, especially Jakarta was competing to provide the best service in terms of information and technology. Moreover, implementation of IT is one of strategies to improve hotel performance
  • Based on previous research, IT implementation at the hotel has been started since 1980s until 1990an, many hotels that invest millions of dollars for information technology about 4.4 million dollars
  • ...19 more annotations...
  • Gaining competitive advantage [7] such as, IT security investments may stop the competitors to absorb market power. From other studies that point to problems appearing in hospitality to find out if the IT they invested is effective, [8] asserts that many hospitality companies have no procedures to see how effectively their spending on information technology is.
  • Various sources of data that show about IT investment in the hotel, then the problem is the existence of large amount of investment for IT development without understanding IT effectiveness for the hotel [11], the managerial party who difficult to give data about the values and intangible/tangible benefits.
  • According to [14], an IT investment consists of the total life cycle cost of an entire project or project chunk that involves IT, including the post-project operating cost of the system that was implemented. The investment ceases to exist when it is replaced or eliminated for any reason.
  • Evaluating expense or impact of large IT investment may vary from study to study [15]. In order to evaluate IT investment, Information Economics (IE) is a set of calculating tools to measure the benefits and costs of an information technology project.
  • The benefits of IT/IS that organizations use can be viewed by combining Simple ROI analysis and analysis of technology and business domain.
  • This study using Information Economic approach in order to do feasibility assessment that combine technology domain and business domain
  • The data collected includes the financial data of 5-star hotels and IT projects undertaken, as well as the costs for the technology used today. This stage is also done spread the questionnaire online for intangible value analysis of business domain and technology domain
  • The feasibility of IT investment can be known ROI score generated on the economic impact sheet. According to [23], to calculate simple ROI, there are three worksheets, such as: development cost sheet using ratio, ongoing work sheet, and economic impact sheet. The final value of the ROI and the scores of corporate analysis is incorporated into the IE
  • The Scores on the IE Scorecard will show the value and benefits of investment for IT.
  • The huge demand for the Internet makes many hotels present the speed and bandwidth that can satisfy the guests.
  • E-Concierge Service Management. Service to entertain hotel guests and modern travelers is currently working with smartphones in the form of E-Concierge Mobile with technology called Mobile Guest Softphone (MGS).
  • IT Security, the problem that arises when using IT in a company/organization is its security. For companies/organizations and even hotels are also very vulnerable to information that can harm the hotel in case of cyber attack.
  • According to Table 2, Mandarin Oriental Hotel ROI score is 1. This score means that the IT investment is feasible. Above 100% for Simple ROI means that IT implementation give profitability to the hotel and able to invest more in the future
  • Value Linking approach implemented in 5-star hotel, implementation online reservation and e-Concierge management, hotel guests can quickly make room reservations and guest data collection will be better. For e-Concierge the process of entering guests to the room will also be easier
  • This value showed that 5-star hotels in Jakarta have the time and opportunity to invest more in the future. Therefore, it is necessary to focus on future growth and development of existing infrastructure.
  • It can be concluded that IT implementation and IT projects in 5-star hotels in Jakarta are quite useful. E-Concierge, mobile apps and online reservation are most valuable and success investment for 5-star hotel. But, in order to improve the performance of hotel IT, which in terms of security and improve hotel services, need a system improvement in accordance with the hotel program, so it can support the vision and mission of 5-star hotels in Jakarta.
  • The result of financial analysis that is calculated ratio and processed in economic impact sheet obtained simple ROI and can be concluded that in terms of cost, IT investment in 5-star hotels in Jakarta can provide economic benefits for the hotel.
  • The investment quadrant shows that a 5-star hotel has a solid business base, has the time and opportunity to invest in the future. The 5-star hotels in Jakarta also have the time and opportunity to invest more in the future. Therefore, it is necessary to focus on future growth and development of existing infrastructure.
  • This value indicates that IT investment in 5-star hotel in Jakarta is considered economical enough, and quite helpful and useful in supporting hotel business process.
  • marble_bird on 12 Jul 20
     
    This article covers a study performed on various 5-star hotels in Jakarta on the effectiveness and feasibility of IT investments. The study is performed via a questionnaire distributed to hotels in the area with associated data values for analysis. The study finds that IT investment in 5-star hotels in Jakarta is economically feasible and could provide these businesses with competitive advantage and profit.
Jia Zhu

Evolving Technologies To Drive Competitive Advantages / Arthur Andersen - 0 views

www.hotel-online.com/...tech.html

shared by Jia Zhu on 27 Oct 12 - No Cached
  • The technology life cycle provides a model to assess how and when companies and individuals adopt new technologies. Pioneers are generally the first to acquire new technologies and take the greatest risk. A second category of technology users -- leaders -- adopt relatively unproven technologies, but the risks are known and accepted.
  • In terms of costs and benefits, the best balance appears to be with the leaders who invest significantly less than pioneers and incur reduced risks, yet their technology investments can yield similar benefits.
  • The desire of operators to improve the guest experience.
  • ...10 more annotations...
  • The potential to improve operating efficiencies.
  • client server technology. This technology will bring no less than the dismantling of the management information system (MIS) paradigm as we have known it, more completely democratizing access to information than at any time in the past.
  • Client server technology is probably the most viable strategic option for medium to large multi-property owners and operators as technology upgrades are made.
  • Optimally, hotel organizations should be able to reduce IT costs, leverage investments in PCs and improve staff productivity. In addition, client server technology sets the stage for the still more sophisticated technologies of the next decade in which guests will have greater access to in-room technologies, and fully integrated systems using a common database will be the norm.
  • Guest services accessed by the guest typically involve the use of the in-room television remote control to select from a suite of interactive programs and services. Guests can navigate easily through multi-media video and audio, and be automatically connected by phone to outside services.
  • involve a PC running a front-end application that allows access to outside services, as well as access to guest-specific information maintained in a central repository or database. In either case, the method employed is driven by the guest familiarity and comfort in using technology.
  • better target a hotel's customer base.
  • Client server technology now permits a hotel chain to maintain one single customer database which can be accessed by all of the properties connected to the server over the network. In addition, far more data can be collected about the customer and his spending, making the database much more powerful as a focused marketing tool.
  • Technological advances thus have the potential to generate a range of benefits critical to remaining competitive, and ultimately driving expanded market share and profitability. Nevertheless, the barriers to increased investments in technology by hotel owners and operators can be daunting. These include general resistance to change, lack of available funds or manpower to invest in technology, and a perceived inability to quantify benefits.
  • investments in technologies and effective application of these technologies in hotel operations and services will become one of the most decisive factors differentiating successful hotel organizations globally in the years ahead.
  • Jia Zhu on 27 Oct 12
     
    This article discussed about the advantages the technology bring to hospitality industry and why it is important for hotelier to make investment in IT. Technology life cycle provides a model for companies to assess when to adopt new technology. The best balance between the investment costs and benefits are the leaders who invest less then pioneers and incur reduced risks. Hotel technology investment is critical today for the following areas, improve guest experience and improve operating efficiencies. Then the article continue to discuss the development of technology in the last and what the new technology investment brought to the hospitality industry. For example the client server technology brought the integration in the 1990s, more advanced and well-integrated system for on-stop guest services and database marketing. Technology advances have the potential to generate benefits critical to remaining competitive and ultimately driving expanded market share and profitability. The barriers to increase investment in technology by hotel owners and operators include general resistance to change, lack of available funds or manpower to invest in technology and perceived inability to quantify benefits. As a result, investments in technologies and effective application of these technologies in hotel operation and services will become one of the most decisive factors differentiating successful hotel organizations globally in the years ahead.
ashleyb102

Investing in Technology for Competitive Advantage / Arthur Andersen / Fall 1996 - 0 views

www.hotel-online.com/...Investing_in_Technology.html

IT investment Technology Hospitality tech

shared by ashleyb102 on 08 Feb 18 - No Cached
  • Technology Investment - The Future
  • Some organizations are early-adopters, while others embrace advancements after they have been already tested by others and the investment risk is reduced
  • otel organizations vary widely in their ability and willingness to track the cycles of technology advances.
  • ...8 more annotations...
  • It is essential that technology investment be sold as part of an integrated business plan where the technology is supporting the plan
  • As to the investments required for technology, we can safely predict that there will be significant demands for capital to cover technology investments
  • The quandary for investors in the hospitality industry, as indeed in many other industries, is how to balance the need to keep up with rapidly evolving technologies with the need for satisfactory returns on capital over the short term.
  • technology investments must support a company's vision and long range strategy
  • Hotel organizations for years have recognized the importance of reserving capital to replace furniture, fixtures and equipment. A similar approach may prove beneficial in the technology arena. FF&E reserves will begin to share prominence in the financial planning of hotel investments with l.T. (or Information Technology) reserves.
  • Smaller, more frequently planned technology investments should generally pay higher dividends in the long run, as compared to the one-time, major investment followed by years of neglect
  • Further complicating the long-range planning for technology investment in an era of network-centric computing is the question of whether to invest in company-based systems or to wait for the availability of network subscription services provided by outside technology utilities
    • ashleyb102
      ashleyb102 on 08 Feb 18
       
      Cloud based systems
  • management will need to understand that technology and information alone confer no competitive advantage. leadership and sound planning will be required to ensure that these investments and the highway of information they generate ultimately produce the shareholder returns required.
  • ashleyb102 on 08 Feb 18
     
    Investing in information technology can be beneficial for businesses in hospitality industry because it pays higher dividends over a long period of time. If businesses continue to invest in information technology systems regularly they can prevent problems caused by having older information systems. A security breach is a major problem that can be prevented by investing in information technology systems regularly. Another reason to invest in IT systems in the hospitality industry is to have a competitive advantage.
haelidenton

Hotel Industry Embraces Green Revolution - 0 views

www.entrepreneur.com/...201838

shared by haelidenton on 17 Jan 12 - No Cached
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records."
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • ...19 more annotations...
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records."
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records.
  • The green economic revolution is impacting the $90 billion U.S. hotel industry
  • the hotel's adoption of native gardening also gives guests a compelling reason to eat at the hotel and accounts for 15 percent of hotel guests' revenue stream.
  • Cost-competitive advantage . Saving green by going green is where most of today's business focus is directed. In these recessionary times, going green can make the difference in being able to compete on price.
  • Green revenue growth . This is where the green economic revolution is heading, growing revenue by going green. This is a multi-trillion-dollar global opportunity for building or cementing customer loyalty as consumers focus increasingly upon sustainability and wellness.
  • Green entrepreneurship . In every economic revolution, there is opportunity for the entrepreneur as the traditional big players struggle to adopt their legacy systems and business practices. Customers are looking for businesses that offer fresh solutions that support their quest for "going green."
  • The green economic revolution is impacting the $90 billion U.S. hotel industry
  • Food grown in the hotel's native garden provides hotel guests with a healthy dining experience. In fact, the hotel's adoption of native gardening also gives guests a compelling reason to eat at the hotel and accounts for 15 percent of hotel guests' revenue stream. According to a recent report published by the Green Hotels Association, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records
  • Ruth James on 17 Jan 12
     
    The Hotel Industry and its vendors are acknowledging and taking a keen revenue advantage, because their customers are supporting a green environment focus. This green economic revolution has impacted the $90 billion dollar Hotel industry. The article describes a hotel in Austin Texas profoundly in regards to their property having the "largest solar system in the continental U.S.". The hotel goes as far as creating their motto, which gear guest towards a green environment focus; their motto states "Environmental consciousness in action." The hotel grows its own food and vegetables, in which they serve the guest with, and they also give some of their produce to local food banks. The hotel guest often brag about how well they slept in the night, this might be caused by the toxic free chemical environment they are in. The lodging have refrained from using chemical pesticides 20 years ago, which may have added to the result of guest sleeping well; stated the general manager. The Ritz-Carlton program "Jean-Michel Cousteau's Ambassadors of the Environment program" was originally for the children that were staying on the Kapalua in Hawaii. The children enjoyed it so much, and their parents became very inquisitive; that the program emerged into the entire property focus. This program gives guest the opportunity to have involvement with the native forest; native nature walk and the hotel also harvest a native garden. This is almost the same idea as the hotel located in Austin Texas. There are many valid reasons for the reason why the Hotel Industry should be green conscious. The Green Hotels Association states that "Companies with proactive environmental strategies will make 4 percent higher investment, 9 higher sales growth and 17 percent higher operating income growth than companies with poor environmental practices.". If I was a general manager, this would be one of my main concerns and focus. Going green is cost effective, but the ending
  • ...4 more comments...
  • ying jiang on 07 Feb 12
     
    Getting green could enable the hotel be competitive on price and grow the revenue. There are already several hotels going green and receive positive feedback from their guests.
  • Marcia Brown-Kelly on 09 Feb 12
     
    Going green is a great initiative within hotels. having worked with resorts implementing green initiatives, I would say one of the biggest challenge is changing the culture of employees to start doing things differently in order to maintain a sustainable program. Hotels in my experience that are successful employs environmental officers who educate and monitor various areas of the green initiatives. Going green can have huge capital investment in the initial stages but have huge gains especially in energy conservation in the long term. Our guests are also more socially conscious and will respond well to green hotels though they may not always practice conservation during their stays.
  • Gerardo Collado on 05 Jun 12
     
    This article explains the green revolution pertaining to the hotel industry with an estimated $90 Billion. Consumers are becoming conscious of the Earth's finite resources, thus, the green revolution is coming about slowly but without a doubt making an impact in the way the economy works. This is allowing an opportunity for hotels to increase revenues and gain market share due to this niche on catering to such consumers with a green initiative lifestyle. For example, the Ritz Carlton- Kapalua Hawaii, is combing fun and green education to educate children of the unique local surrounds found within the region, encouraging to frequent business by the wonderful experience. As well, it is interesting to learn that companies engaged within the strategies focused on the environment are experiencing high growth regards return on investment, sales growth and operating income. In every spectrum of hotel building and operating, the green initiative is possible from construction and architectural planning to hotels free of chemicals and property-developed horticulture gardens. The full capacity of the green revolution has not been seen to its full potential only leaving to wonder the full extent of its possibilities.
  • luis capote on 10 Jun 12
     
    This article talks about how the eco-friendly environment concept is helping the hotelier industry achieve higher revenues and market shares. This whole concept is an ample opportunity for hotels to compete, stay on business and raise awareness to consumers about green resources that can be used to save our planet. People show interest in collaborating with the going green concept and learn more, however businesses need to be more conscious about the environment. For example, The Habitat Suites in Austin Texas is using the largest solar system in the continent to provide power. It is also a toxic free chemical environment and reproduces in own its own fruits and vegetables gardening. Three main factors are impacting the green revolution's hotel industry; cost-competitive advantage, green revenue growth, and green entrepreneurship. Feel free to read more about the article to have a deeper understanding.
  • anonymous on 22 Sep 12
     
    nowadays, more and more hotels attending to join the green army. one of the most important reason is this kind of hotel will have a better market. because of the education level of the guests, their invironmental awareness become stongly. so the guests want to do more to make a contribution the the environment protection. on the other hand, the customers all knows that even the price of the green hotel is higher, but it is more health and safe. it will make them feel better and have a good experience in the hotel. as we know, a good experience is the final goal of hotel. so, the green hotel must have a bright future.
  • haelidenton on 06 Sep 14
     
    The green economic revolution is impacting the $90 billion U.S. hotel industry. There is an opportunity to increase revenue and market share by "going green". Habitat Suites in Austin, Texas is a leader in this area. The hotel's motto is "Environmental consciousness in action." Habitat Suites has an environment that is free of chemicals, has the largest hotel solar system, and uses their own organic fruit and vegetable garden for food in the hotel. Due to this environmental consciousness, the customers are reacting positively. Commenting on how great they slept, due to the ecologically fresh rooms. Many hotel chains are jumping on the green revolution bandwagon. At the Ritz-Carlton, Kapalua in Hawaii, they started an environment program that was originally designed to provide fun for kids. But after positive feedback from the children, this has grown from just learning about local marine life to educational nature walks. These walks go through Maui's native forests and a garden that grows native foods and has community engagement in order to preserve their island's culture and environment. The food that is grown in the native garden is used in the hotel to provide guests with a healthy dining experience. Because of this, it has increased guests' reason to eat at the hotel and is 15 percent of the hotel guests' revenue stream. This environmentally friendly program increases the possibility of repeat business and attract new travelers who search for these types of experiences. A report published by the Green Hotels Association states, "Companies with proactive environmental strategies have a 4 percent higher return on investment, 9 percent higher sales growth and 17 percent higher operating income growth than companies with poor environmental track records." Even non-hotel-industry entrepreneurs are realizing business opportunities in the green vacation industry. Patricia Griffin, president of the Green Hotel Association, started the associatio
Adam Herrmann

IT Investment-Calculating the value of an IT investment - 1 views

newtech.about.com/...-Value-Of-An-It-Investment.htm

shared by Adam Herrmann on 26 Oct 12 - No Cached
  • This article will give you the basic skills necessary to analyze and create a valuation for a proposed IT investment.
  • Basic IT Investment Analysis Terminology
  • Capital Expenditure (CAPEX)
  • ...7 more annotations...
  • Depreciation
  • Cash Flow
  • Discount Rate
  • Net Present Value (NPV)
  • discount the net inflow less the net outflow into a single value. If the number is positive, then the project would add value to the organization and if the NPV is negative, it would lower value of the organization.
  • Inflows: The inflows or benefits resulting from an IT investment can be subjective and less exact. Often times, the benefit of an IT investment is savings in time, client satisfaction or other "soft" numbers.
  • Outflows: Outflows are typically easier to estimate but some can be subjective as well.
  • Hui Chen on 26 Oct 12
     
    This article will give you the basic skills necessary to evaluate a proposed IT investment.These skills can be used in any industry including hospitality. At the beginning, it explains some basic IT investment analysis terminologies. Then it introduce two IT investment analysis methods: NET PRESENT VALUE; PAYBACK PERIOD. It also contains some link that would teach us how to use EXCEL to calculate data.
  • Adam Herrmann on 05 Mar 13
     
    This article explains how important it is to analyze and interpret new forms of IT technology to make the best purchase or investment. The articles starts by describing terms used in IT Investment. The first term is Capital Expenditure, which is any expenditure not for the usual maintenance and upkeep of the hotel or restaurant. For example, a Capital Expenditure would be obtaining a new PMS or renovating your banquet facility. The next term is Depreciation, which everyone should know is the amount of money lost on an investment of the course of its life. The third and fourth terms are Cash Flow and Discount Rate. Cash Flow is "the movement of cash in and out of the business", and Discount Rate is "analysis based on the dollar being worth more today than in 5 years". The second part of the article talks about investment techniques used. Many methods are used to help make sound investment decisions like NPV. NPV is Net Present Value, which is an assessment of long-term profitability of the investment made by adding together all the revenue over its life and deducting the costs involved. Another technique used to evaluate an IT investment is the Payback Period. This helps to evaluate how long it will take to make back your initial investment in the IT. The article goes into grave detail on both of these methods and believe this article can be very helpful for hotel/restaurant managers and owners when determining which investment should be made.
Gyujin Chae

Choice Hotels makes multi-million dollar IT investment to accelerate growth in Europe |... - 1 views

www.breakingtravelnews.com/...nvestment-to-accelerate-growth

IT Investment hotel

shared by Gyujin Chae on 24 Mar 12 - No Cached
  • announced that it is rolling out a multi-million dollar technology infrastructure investment plan in Europe and other markets outside the US
  • The investment is designed to strengthen Choice’s technology platform, automate back and front office processes at franchised hotel properties and drive increased central reservation system (CRS) delivery to Choice-branded hotels which will position the brands for future growth
  • The multi-million dollar IT investment will include the international roll-out of choiceADVANTAGE, the company’s web-based Property Management System (PMS) which automates front and back office hotel processes such as check-in, invoicing and inventory management
  • ...1 more annotation...
  • Our investment in technology infrastructure will not only benefit hoteliers but the many business and leisure travellers who book and stay at Choice-branded properties in Europe
  • Gyujin Chae on 24 Mar 12
     
    As competition has intensified in the hotel industry, hotels constantly invest huge money in IT to differentiate themselves from others, and ultimately win competition. This article talks about Choice Hotels' IT investment. The company decided to put multi-million dollars in IT to accelerate European market's growth. The investment is mainly designed to improve Choice's technology platform, central reservation system (CRS) and to automate back and front office processes. The investment also includes the company's web-based property management system (PMS), which automates front and back office processes, such as check-in/out, invoicing and inventory management. The hotel expects the technology infrastructure to benefit both hoteliers and guests in Europe. As hotels implement new technology, it eliminates certain jobs, such as front desk agents, and changes the way hotels conduct business. Hotels keep investing in IT in order to be more profitable and competitive. Choice's IT investment is an example of how hotels are changing with new technology.
mtorres619

The Impact of IT Investments on Profits - 0 views

sloanreview.mit.edu/...t-of-it-investments-on-profits

shared by mtorres619 on 12 Mar 17 - No Cached
  • New research finds that investments companies make in information technology increase profitability more than investments in advertising or R&D do.
  • CEOs often struggle with some critical choices as they allocate their companies’ discretionary dollars among various categories of investments.
  • One key takeaway from our research: All other things being equal, executives should accord higher priority to IT projects that have the potential for revenue growth over those that focus mainly on cost savings.
  • mtorres619 on 12 Mar 17
     
    CEOs of companies struggle with the decision of investing more in IT rather than in advertising or research/development tools. When and if investing in IT the question would be what kind of projects should have the focus. Recent studies have helped determine that since 1995 there has been significant positive profitability in IT investments. This research indicated that IT investments have a larger profit impact than spending money on advertising. IT investments are creative and use new technology that may help attract new consumers. Some IT projects however work better than others. They can be used to support sales by customer satisfaction and customer retention strategies. As more companies invest in IT investments, profitability increases due to competition. In conclusion business owners should focus on IT projects that will have potential growth in revenue over projects that only focus on cost savings.
kgall030

Hospitality Upgrade | Hospitality Industry Technology Focus 2017 - 0 views

www.hospitalityupgrade.com/...stry-Technology-Focus-2017.asp

hospitality E-Commerce hotel technology trends

shared by kgall030 on 24 Sep 18 - No Cached
  • more than 70 percent of the respondents indicated that they would be increasing their IT investment in the coming year
  • Most organizations realize that in order to grow their companies and revenues they need to invest in technology and systems that will create operational efficiencies, improve the customer’s experience, and help generate sales.
  • Fewer than 10 percent of the companies surveyed reported that that they would be reducing their IT spend.
  • ...9 more annotations...
  • With the market continuing to be extremely competitive, revenue management and channel optimization remain key focal areas of investment for publicly traded companies as well as independently owned organizations alike.
  • Enhancements to CRM and loyalty programs are also on the list of investment directives.  A number of responses (almost 70 percent) indicated that they were targeting business intelligence (BI) initiatives for the coming year as part of their technical focus and in an effort to become more strategic in managing the business and targeted revenue focus. 
  • The investment in guest experience technology continues to be strong as hotels attract guests to hotels. There continues to be increased expenditures on key drivers such as improved Wi-Fi service, self-service mobility applications and expanding the in-room offerings.
  • With a number of breaches within the hospitality industry this past year, and other large corporate breaches such as Yahoo headlining the news, this continues to be an area of concern. 
  • With the sophistication of the threats and the possibility of breaches increasing, companies are looking to outsource their information security/cybersecurity requirements to third-party service partners that specialize in countering these risks.
  • in recent years corporations are beginning to understand that investment in human resources is one of the most important assets they have.  A recent Forbes article referenced the Deloitte Global Human Capital Trends Research analysis, which said, 78 percent of business leaders rate retention and engagement as being urgent or important. 
  • While managing Big Data has long been an Achilles heel for most companies, most would agree that there are significant competitive advantages that can be gained from being able to effectively manage the information.  With a number of respondents targeting CRM projects for the coming year, the promise of being able to effectively target individual guest preferences becomes more obtainable.
  • A significant number of companies are continuing to look at transitioning to cloud-based applications for some of their applications.  However, more than 80 percent indicated that they are not ready to transition all of their applications to the cloud. 
  • With more than 70 percent of respondents reporting that they expect an increase in their IT spend this coming year and only 10 percent expecting a decrease, 2017 promises to be a good year for the hospitality technology industry.  Most respondents indicated that their primary reason for investing in new technology was to improve their customer engagement and experience.  This was closely followed by their directive to make operations more streamlined and efficient.
  • kgall030 on 24 Sep 18
     
    This is a very detailed article about the various ways that hospitality firms are utilizing technology and using their capital to invest in IT related projects. A variety of hospitality firms were surveyed to produce this article on ways they plan to invest in IT and the various projects they feel are most worthy of their dollars. Some of the areas that were most noted and listed as worthy of additional IT investment include improving technology to improve financial performance and enhancements in CRM and loyalty programs, guest experience technology and ensuring the guest stay is always seen as paramount, as well as improved information and cyber security technology as well as an increased focus on understanding big data and improving employee engagement. This article is highly detailed in what it analyzes and it lists a long list of potential investments that a variety of companies will be taking on in the future. The focus of this article was on the year 2017, but many of these concepts still apply to the hospitality industry today and well into the future. Many of these things listed are also things we can see that many companies worked on leading to 2018 and continue to work on and it is the companies that put these IT investments at the forefront that will be leading the hospitality enterprises of the future.
amichellemagluta

Why Investing in Hospitality Technology is Investing in Good Business, by Paul van Meer... - 3 views

hotelexecutive.com/...-is-investing-in-good-business

investing technology business

shared by amichellemagluta on 23 Oct 13 - No Cached
  • 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: Energy Management Systems Revenue Management Systems Property Management Systems In-Room Technology Sophisticated Telco System
  • Equally as important, when considering whether to invest in new technology within the hospitality sector, is the need to recognize that technology is constantly changing and improving. Decision time frames are shortening. International hoteliers that have a good view on the future, realize that the technology decision they make today will only be relevant for the next 3-5 years at the most and are already planning next generation migrations. There is an onus on the vendors to also re-invent themselves and re-invent their technologies. The concept in 2009 – 2010 of having something ‘future proof’ is both outdated and naïve.
  • ...6 more annotations...
  • Hotels that haven’t properly invested in updated technologies can find themselves under-prepared for the increased workload that comes with having to manually update rates according to information being received from multiple channels. In light of an increasingly technologically dependant operating environment, hotels that still manually alter room rates and various revenue strategies rather than having the right technology in place to do this for the, can find themselves lagging behind the competition - both in terms of meeting their revenue potential but also in their ability to deal with different periods of patronage.
  • As the hotel industry continues to move towards a more dynamic and inter-connected environment it is vital that the correct technology infrastructure is in place to meet this challenge. Technology must enable a seamless flow of process and procedure and decisions through all aspects of the business, thereby enabling a philosophy of managing by exception rather than on a day to day tactical basis.
  • Importantly, hoteliers also need to realize that the hospitality industry is constantly changing and a lack of up-to-date technology and older strategies will not always be applicable to new, unique situations.
    • xsun015
      xsun015 on 23 Sep 14
       
      Technology is the future of hospitality industry. China as a developing country. There are many aspects needed to improve in hotel like technology. In this article, I know that a truth. While there's merit to applying sophisticated technology to rate-setting, hotels should not neglect the value of human judgment and insight. Hotels make better rate- setting decisions when they effectively combine technology and human inputs. For a hotel to effectively operate and ensure it is maximizing its incoming revenue, the right technologies needs to be in place. Through investing in the right technology at the right time, savvy hoteliers will be ensuring that their facilities are able to effectively maximize their ongoing revenue capability now and into the future.
  • Equally as important, when considering whether to invest in new technology within the hospitality sector, is the need to recognize that technology is constantly changing and improving. Decision time frames are shortening. International hoteliers that have a good view on the future, realize that the technology decision they make today will only be relevant for the next 3-5 years at the most and are already planning next generation migrations. There is an onus on the vendors to also re-invent themselves and re-invent their technologies. The concept in 2009 - 2010 of having something 'future proof' is both outdated and naïve.
  • Hotels that haven't properly invested in updated technologies can find themselves under-prepared for the increased workload that comes with having to manually update rates according to information being received from multiple channels.
  • Yunfan Wu on 23 Oct 13
     
    The article described the importance of investing in technology for hotels in details. It can help improve the operational efficiency and support business growth from many aspects. And there is no technology that suitable forever because the circumstance of the industry and the technology is always changing. So if a hotel want to survive in the fierce competition, it needs to do the right technology investment and adjustment according to the specific necessary timely.
  • amichellemagluta on 18 Oct 16
     
    This article speaks about the importance of investing in technology in the Hospitality industry. There are so many different types of technology that can be implemented in the industry that will help us be prepared for the load of guests. The article also explains that investing in technology while costly, is very important to the success of the hotel.
Ted Rood

Hotel Lenders and Investors at Ease With Direction of Investment Market - MarketWatch - 0 views

www.marketwatch.com/...f-investment-market-2012-07-11

shared by Ted Rood on 22 Jul 12 - No Cached
  • Lower interest rates, revenues that are outpacing expense growth and below average supply additions are combining to give lenders and investors a greater comfort level with the U.S. lodging investment market,
  • "Double-digit profit growth, coupled with the low cost of capital and limited supply growth, make hotel real estate an attractive option to commercial real estate investors," said Scott Smith MAI, vice president in the Atlanta office of PKFC
  • "Institutional investors and private equity funds are showing a bias towards full-service and resort hotels in the major markets, where profit growth has been the greatest,"
  • ...4 more annotations...
  • Survey results show that there currently is a significant gap between the price a buyer is willing to pay and what a seller is willing to accept.
  • Hospitality bankers and mortgage companies responding to the Hospitality Investment Survey reported that mortgage terms have remained virtually the same from 2011 to 2012.
  • The 2012 Hospitality Investment Survey also identified the increasing use of Small Business Association 504 loans, a program most frequently offered by local and regional banks to investors purchasing limited-service properties in secondary markets
  • Investments in the hospitality industry will continue to become more attractive due to the expected continued improvement in industry performance and the continued availability of cheap capital.
  • Ted Rood on 22 Jul 12
     
    The article discusses how hotel lenders and investors have found success with the direction of the investment market. According to the 2012 edition of the Hospitality Investment Survey, lower interest rates along with revenues that are outpacing expense growth are combining to provide investors with a greater level of comfort in regards to the U.S. lodging investment market. According to Scott Smith, vice president of PKF Consulting USA, the double digit growth of profits along with low capital and limited supply growth has made hotel real estate much more attractive to commercial real estate investors. Smith notes that institutional investors as well as private equity funds are more inclined to invest in full service hotels existing in the major markets, which has shown the most profit growth.  According to the text, investments in the hospitality industry will continue to remain attractive to investors due to the expected continued improvement in industry performance along with the availability of cheap capital. 
Sherine Mattison

Investing in Technology for Competitive Advantage / Arthur Andersen / Fall 1996 - 1 views

www.hotel-online.com/...Investing_in_Technology.html

shared by Sherine Mattison on 22 Jul 12 - No Cached
  • Today's hospitality industry technology represents a legacy reflecting the computer industry's capabilities during the last two decades and the willingness of hotel executives to embrace its products
  • critics have been increasingly harsh with their comments on the computer systems and software applications used by the hospitality industry. Typically custom-designed for proprietary application, these systems have not always been successfully integrated
  • The question for many hotel organizations remains how to achieve the ultimate open system that can be shared at all levels, whether it is the central reservation system, individual property management system or any other operational area
  • ...3 more annotations...
  • Timing is everything in technology investments
  • Network computing has enormous implications for marketing to customers on a global basis, as well as hotel operations. Consider the potential for the industry to connect with vendors worldwide for electronic purchasing, potentially achieving economies of scale and leveraging not yet possible. World purchasing functions will allow companies to customize their own catalogs. Virtual channels of distribution using computer networking capabilities will also allow hotel companies to market products and services - some traditional to our industry, others not - to customers whether they are in the hotel, at work, or at home. This will require a migration from today's central reservation systems to tomorrow's customer information systems using network-centric solutions. Development of customer profiles and guest recognition will make it possible for hotel organizations to interact in entirely new ways with customers, regardless of their physical location. Clearly, the large hotel companies will need to be the first to address questions raised by global networking capabilities and what this will mean in terms of technology investment. But for many hospitality companies presently struggling with the high cost of technology and the confusing state of our industry's technology affairs, this will not be an easy task. And the decisions will ultimately become further complicated by the opportunity to outsource certain functions into subscription-based networks. It is unlikely that the hospitality industry will be forced to bear the entire burden for networking infrastructure. Strategic alliances with major technology companies will be the catalysts in building this capability as they become strategic providers of networking capabilities to hospitality and other industries. And as network-centric computing comes of age and a company's proprietary information is stored in cyberspace, security will become an ever-more important issue requiring solutions. Whether it is an e-mail gateway through an internal network or customer access via the Internet, network fire walls and encryption systems will be required to mitigate the concern many will have with system security.
  • Network computing has enormous implications for marketing to customers on a global basis, as well as hotel operations. Consider the potential for the industry to connect with vendors worldwide for electronic purchasing, potentially achieving economies of scale and leveraging not yet possible. World purchasing functions will allow companies to customize their own catalogs. Virtual channels of distribution using computer networking capabilities will also allow hotel companies to market products and services - some traditional to our industry, others not - to customers whether they are in the hotel, at work, or at home. This will require a migration from today's central reservation systems to tomorrow's customer information systems using network-centric solutions. Development of customer profiles and guest recognition will make it possible for hotel organizations to interact in entirely new ways with customers, regardless of their physical location. Clearly, the large hotel companies will need to be the first to address questions raised by global networking capabilities and what this will mean in terms of technology investment. But for many hospitality companies presently struggling with the high cost of technology and the confusing state of our industry's technology affairs, this will not be an easy task. And the decisions will ultimately become further complicated by the opportunity to outsource certain functions into subscription-based networks. It is unlikely that the hospitality industry will be forced to bear the entire burden for networking infrastructure. Strategic alliances with major technology companies will be the catalysts in building this capability as they become strategic providers of networking capabilities to hospitality and other industries. And as network-centric computing comes of age and a company's proprietary information is stored in cyberspace, security will become an ever-more important issue requiring solutions. Whether it is an e-mail gateway through an internal network or customer access via the Internet, network fire walls and encryption systems will be required to mitigate the concern many will have with system security. In the final analysis, networking solutions will drive down the cost of technology investment "on-property" where hotel real estate and business interests merge. The solutions that hotel organizations will be able to choose from in terms of networking should also be less expensive than the current profile of technology spending. And we can expect that change to occur sooner rather than later, given the present rate of investment in Internet-based technologies.
  • sultan alharbi on 22 Jul 12
     
    "Investing in Technology for Competitive Advantage - The Challenge Facing the Hospitality Industry" sheds light on how the necessity of the investment in technology is in the hospitality industry. Not investing in technology affects even the customer services. It is mentioned that there are at least 85 property management systems available offered to owners and managers of hotels by technology providers which tend to meet the real needs of those. Further, open system that could be widely used is needed to acquire by hotel organizations. The more creative hospitality organizations are, the more successful would be in future. It is also indicated the technology cycles. Simply, technology would be increasingly required in future because of that the investment in technology would give a lot of opportunities to different parts in this industry.
  • Rixon campbell on 17 Sep 12
     
    Investing in the hospitality industry as it relates to information technology is one of the ways the industry will stay current and be able to compete in this fast pace environment. More and more guest are demanding exceptional, cutting edge customer service. As this investment occurs there needs to be integration of hardware and software for the future. These choices are not easy and is perhaps one of the greatest challenges that the industry faces. Timing and knowledge is critical to investing in technology because innovation is moving so fast, therefore knowing what new development to purchase and the ability to integrate existing systems into new one is important. In conclusion, it is paramount for investors to be mindful of the market place and to get as much inputs into the decision that is made for maximum results.
obheron

Deciphering ROI from tech investment can be complicated | Hotel Management - 0 views

www.hotelmanagement.net/...-investment-can-be-complicated

technology hospitality hotel software solution travel

shared by obheron on 05 Mar 18 - No Cached
  • behind the curve when it comes to the latest technology, but hoteliers are also faced with trying to decipher what tech investments will provide the greatest return.
  • behind the curve when it comes to the latest technology, but hoteliers are also faced with trying to decipher what tech investments will provide the greatest return.
    • msoma003
      msoma003 on 06 Mar 18
       
      Not good, we should be ahead of the curve for competitive advantage
  • need to survive, while some technology is simply a fad.
  • ...16 more annotations...
  • sometimes we waste a lot of money doing so
    • msoma003
      msoma003 on 06 Mar 18
       
      Is it even worth it?
  • no one really knows what technology is best to invest in to maximize return on investment,
  • ack-of-house systems such as financial reporting are key to operational success
    • msoma003
      msoma003 on 06 Mar 18
       
      Some things you need others you want
  • Front-of-house technology is more of a gamble,
  • Sometimes we have to play along with those, and those can tend to be more of a fad, but some are critical for differentiating from neighbors.
  • Some brand companies see the value of investing in guest-facing technology.
    • msoma003
      msoma003 on 06 Mar 18
       
      We have to decide which ones are worth it
  • mobile requirements to continue changing as more and more devices come online,
  • But with investment in mobile infrastructure, it’s more about trying to stay ahead so we can continue to innovate and deliver new solutions easily.
  • ROI on some of these solutions might not be immediate, but by starting to develop solutions for these technologies we begin learning how to integrate them into our systems and processes.”
  • ind the right solutions and technology in which to invest time and money.
    • msoma003
      msoma003 on 06 Mar 18
       
      Work with what you have
  • matches with your organization
  • but that’s rarely the case
  • Take the time and look at the process and what and why you’re doing it
    • msoma003
      msoma003 on 06 Mar 18
       
      Figure out what the problem is
  • Invest in a change-management program to make sure you are getting best bang for your buck
  • some tech, such as supporting core processes, is required for operations, but isn't necessarily ROI-based.
    • obheron
      obheron on 19 Sep 18
       
      Interesting perspective. To what extend are new technological add ons just a fad? A must have versus a nice to have? A mover and shaker impacting the bottom line versus just something that is trendy.
  • HVMG invested in technology that pulls all of its operational reporting systems together so that management and ownership can see hotel performance in one place.
    • obheron
      obheron on 19 Sep 18
       
      Is this mostly for small hotels that probably have combined management roles? If a hotel has a Manager for each area, wouldn't we already have all the information needed to inform business decisions?
  • bdolman on 05 Mar 18
     
    The article titled "Deciphering ROI from tech investment can be complicated", explores how technology can be challenging within the hotel industry. It is important to note that hotels need to understand what components they need to include, and which are simply a waste of money. According to the author, "Some technology trends are elements that hotels need to survive, while some technology is simply a fad". It is important to keep an eye on consumer trends to filter out what will actually enhance guest experience. Nowadays, guests and staff need mobile needs to optimize their work processes. For some processes and technologies, the ROI may be almost immediate, but for others, they still require more time to see the investment. In terms of investing in technology, do you think room automation is always necessary? In my personal opinion, the more perks a room has, the more it may enhance the customer experience. Ultimately, it all depends on the hotel, its size and its investment opportunities.
  • msoma003 on 06 Mar 18
     
    This article discussed how to pick the best technology for your company thus maximizing your ROI. Some technologies are necessary while others are just a fad and it is important to determine what your company needs. Guests are also demanding more tech advancements from hotels, the personal touch is not as important anymore. Mobile and digital payment tech is becoming more and more important. Lastly it is important to note that technology will not always fix a problem, it is up to the company to determine what the issue is and then learn how to implement technology that will assist, not just expect it to resolve on its own.
  • obheron on 19 Sep 18
     
    Very interesting article that makes us question whether specific technological add-ons are must haves versus nice to haves to separate us from our neighbours. It also shows us that we cant often times quantify from an ROI perspective. It begs the question, does technology really set a hotel apart and how.
anonymous

5 Things Hotels Should Consider when Investing in Technology | By Hammad Hussain - Hosp... - 1 views

www.hospitalitynet.org/...4085961.html

hotels investing technology hospitality

shared by anonymous on 07 Jul 18 - No Cached
  • With over half of hotels (57%)[1] poised to spend more on technology in 2017 than they did last year, hotels are looking for fresh ways to deliver high-quality experiences to keep pace with rising customer expectations.
  • While most hotels are generally focusing on being "smarter" and "more innovative", the real burning questions are: how can hotels make sure their investments are worthwhile in the right technologies?
  • Implementing the right technology allows hotels to focus on modern needs beyond what traditionally makes good service, such as offering travelers mobile check-in and check-out, virtual concierges and one-touch access to room facilities.
  • ...6 more annotations...
    • berkley7
      berkley7 on 07 Jul 18
       
      I completely agree with this statement! Technology is not meant to replace human interaction, only to complement human interaction to provide a balance and the best experience.
  • Technology should be an aid, not a replacement, for face-to-face staff and guest interaction. Person-to-person communication is an essential part of hospitality. Guests expect travel tips, attentive services and friendly, personal interactions as part of their hospitality experience.
  • The balance is in finding technology that complements human interactions and vice versa
  • Guests expect more than just WiFi – they want all services at their fingertips at all times.
  • Mobile based technologies have the advantage of familiarity and convenience. With handy's preloaded apps, curated city guides and maps, guests can find out about the city, decide what to do, where to go and where to shop – with all the convenience mobile technology brings.
  • Future-proof your technology investments Think about which parts of your business you are trying to improve by using the technology, and look for one integrated system that could manage this.
  • berkley7 on 07 Jul 18
     
    What an informative article! In my own opinion, the following article gave a great insight to investing in technology within the hospitality industry. The 5 helpful tips they provided within the article are the following; get to know your guest first, balance technology with the human touch, invest in mobile based technologies, try before you commit, and future-proof your technology investments. Each of these suggestions truly would make a huge impact within the hotel industry if followed and practiced. In my own opinion, the most vital thing to be sure of when introducing new technologies into your business is to make sure you have the right balance of human connection and technologies. Like stated in the article, technology is not meant to be an aid or replacement for face-to-face staff and guest interaction. New technologies are giving the industry the ability to provide fresh ways to deliver high quality experiences to keep pace with rising customer expectations.
  • anonymous on 07 Jun 19
     
    The article highlights 5 things a hotel leader should consider before they decide to invest in IT. The goal is to ensure the investment truly helps grow the firm's bottom line, is inclusive with the human resources operating within the establishment, and is in align with current long-term trends and not just fad investments. The article helps connect the dots on what makes IT investment risky or an essential path to success.
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