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marble_bird

Conditions Associated with Increased Risk of Fraud A Model for Publicly Traded Restaura... - 0 views

shared by marble_bird on 12 Jul 20 - No Cached
  • Many restaurant industry examples provide evidence that as a firm’s internal control structure weakens and deficiencies are found, the opportunity for fraud increases significantly.
  • The main premise of the study tests the application of the fraud triangle framework constructs to publicly traded restaurant companies during the time period of 2002–2014, using proxy variables defined through literature. The proxy variables selected were company size, amount of debt, employee turnover, organizational structure, the Recession, inflation rate, interest rate, executive stock compensation, return on assets, and international sales growth.
  • growing pressures from both passive and active investors to constantly increase their stock value in a competitive world where meeting performance goals are necessary to maintain a competitive edge
  • ...69 more annotations...
  • To meet targets, it is typical for companies to put additional stresses on their internal control structures by reducing head counts, requiring employees to perform more than one job, and rearranging risk profiles
  • The deceptive and corrupt business practicesofthesecompaniesandothersresulted largely from a failure of corporate governance and lack of ethical business practices, in which internal control mechanisms were circumvented by conflicts of interest that enriched executives and damaged shareholders
  • Deficiencies are often observed through review of the main business cycles: revenue and receivables, purchasing and payables, treasury and stock, and financial reporting
  • Internal controls are often the first avenue of protection in safeguarding assets and thwarting and discovering errors and fraud
  • Some research has been conducted in this area, and findings suggest that companies in the telecommunications, technology, financial, and services industries experience the most difficulty with SarbanesOxley compliance efforts because of increased risk of fraud from industry and company risk factors
  • Therefore, pressure resulting from expectations of financial performance, opportunity to circumvent internal controls, and rationalization coupled with certain inherent industry factors may contribute to increased risk of fraud
  • opportunity to engage in unethical behavior may stem from the macro environment, the operational features, and the specific nature of the business cycles
  • Because of this potential for fraud on the company, shareholders, and the public, examining the conditions that may prompt fraud is necessary for the efficiency of the restaurant industry, and namely, for those passive and active investors that are relying on the financial statements to be true and accurate
  • the restaurant industry is often susceptible to deficiencies because of its inherent characteristics and high control risk
  • Corporate scandals, misappropriation of assets and financial statement misstatement are all very real threats to the restaurant industry.
  • the central focus of this study is to understand the factors that contribute to increased risk of fraud to determine why fraud may occur despite the imposed regulation of the Sarbanes-Oxley Act.
  • numerous researchers have found indication that executive stock option compensation provides encouragements for behavior that is fraudulent or corrupt
  • the study seeks to identify the factors that may provide the optimal criteria to engage in fraudulent or opportunistic behavior, using the incidence of a reported control deficiency as the measurable dependent variable.
  • The fraud triangle is the model that explains the factors that may cause an individual or a company to commit occupational fraud.
  • The differing classifications and definitions of pressure provide evidence that the construct is not directly observable; therefore, researchers in this field have measured the construct of pressure through proxy variables
  • consists of three constructs: pressure/motivation, opportunity, and rationalization. The three constructs offer an explanation as to why management commits fraud, and the dynamic relationship that underlies the acts of occupational fraud.
  • pressure may best be classified into four general types that may lead to fraud: financial stability, external pressure, manager’s personal financial situations, and meeting financial targets (
  • when considering measurements of external pressures relating to debt financing, the financial leverage ratio is the most common measurement of the amount of debt.
  • Both pressures and opportunities are often determined by factors that occur at both the individual and company level (
  • ROA, or asset composition, is an appropriate proxy measurement for the pressure of meeting financial targets.
  • according to the fraud triangle, it can be said that opportunity does not exist unless a pressure exists.
  • nonshareable problems could also motivate groups of individuals, representative of a company’s culture, to commit fraud.
  • Opportunity is described as an atmosphere or temporary environment that enables fraud to be committed, usually with a small perceived probability of being caught or reprimanded
  • In a study of Swedish restaurant companies, it is noted that competition is very high, often resulting in price wars among different companies that reduce prices and then try to compensate through increased sales
  • Some risk factors include the susceptibility of the industry to market changes as well as the nature of the industry, coupled with the specific operations of the company such as whether there are significant or complex international operations; how effective management is at monitoring activities within the organization; and the level of complexity that exists in the organization
  • This environment is therefore dependent on the discretionary income of consumers, and this increased pressure may lead to earnings mismanagement through overstatement.
  • Public companies in the restaurant industry are susceptible to opportunities for fraud on the basis of the aforementioned opportunities
  • The ability to commit fraud in the restaurant industry results from inside knowledge of processes and procedures, and the ability to circumvent controls through weaknesses (
  • strong evidence has also linked the CEO position to fraud when the CEO is also the Chairman of the Board. In incidences like this, the CEO is the dominate decision maker for an organization that may provide an increased opportunity for fraud.
  • The underlying reason for these three categories of increased opportunities for fraud is the state of the internal controls structure, and management’s commitment to strong corporate governance
  • Rationalization is essentially an attitude, belief, or position of the mind or ethical personality that enables an employee or group of employees of a company to intentionally misappropriate assets and then defend their dishonest activities
  • Weak corporate governance structures are often presented through ineffective monitoring of management.
  • A quantifiable means of capturing this could be through review of executive stock compensation measures.
  • excessive use of discretionary accruals may lead to poor audit opinions, providing a rationalized thought for business activities.
  • the nature of the restaurant industry is often described as a periodic, seasonal, and cyclic trade
  • Defining parameters for financial reporting can also have an effect on reducing the rationalized behavior and the opportunity to commit fraud
  • Because these conditions have an obvious effect on earnings and measures of success, this seasonal variability and volatility should be considered when analyzing pressures in the restaurant industry
  • For restaurant companies, this means that rationalizations and attitudes can be managed by assessing the internal control environment and understanding the pressures and opportunities that exist for employees.
  • Some restaurant industry pressures that may impact profitable sales growth include a lack of understanding of the consumer’s perception, including the relevance of existing brands, and delays in opening new restaurants. Likewise, an inability to consider cost pressures, including increasing fees for supplies, utilities, and health care providers contracted by restaurants, as well as an incapability of obtaining economies of scale in procurement, could compress margins and negatively impact sales and operations profit margin.
  • The value in the application of the fraud triangle to the restaurant industry provides an opportunity to extend theoretical contributions that originated from mainstream accounting to hospitality literature, which is severely lacking in the current literature
  • Likewise, restaurant companies that are smaller (and therefore may not have strong internal controls) with increasingly complex transactions create additional opportunities for fraud to be committed
  • competitiveness is a condition that makes meeting financial targets difficult and provides opportunity for fraudulent behavior. External pressure from analysts and investors may create an incentive to misappropriate assets, which, in turn, distorts common financial measures of success such as return on assets.
  • when debt financing exists, in order to address past and future obligations, and remain competitive, restaurant companies are at an increased risk of fraud especially when disruptions in financial and credit markets exist.
  • Studies have revealed that restaurant company victory and demise is eventually correlated to restaurant leadership abilities and intentions; therefore, it can be stated that executives and managers’ intentions are of utmost concern in understanding risk of fraud
  • firms with increasingly complex operations coupled with changes in organizational structure have less resources to put into internal controls and are therefore at an increased risk for accounting errors.
  • .Internationalgrowthissubjecttorisks such as international political and economic conditions, foreign currency fluctuations, and divergent cultures and consumer inclinations
  • This study will focus on the variables most pertinent to the restaurant industry on the basis of the inherent characteristics of U.S. publicly traded restaurant companies, as previously described in this section.
  • a s a result of workforce diversity and the presence of many perceived low-skilled workers. In addition, as companies within the industry respond to declining performance, publicly traded restaurant companies may be subject to activist investors who wish to see a change in the executive management team. If a shake-up such as this would occur, the organizational structure of the company may become unstable, resulting in much greater opportunities for fraud to occur at all levels.
  • this study looks to assess the relation between the amount of debt a company has occurred and the incidence of reported internal control deficiencies.
  • Variables relating to rationalization are present in the restaurant industry when considering the motivations and attitudes of management. It is noted that in difficult times, such as the Recession, aggressive financial reporting tactics may be used
  • this study seeks to understand the effect of substantial stock compensation on increased fraud risk.
  • this study also hypothesizes that poor ROA could increase the risk of fraud, as the pressure provides executive management with the motivation to manipulate earnings.
  • this study suggests that the organizational structure of the company may provide opportunity for increased fraud risk through a unitary tone at the top.
  • this study analysed the disclosures of publicly traded restaurant companies to determine whether a company has a higher probability of increased fraud risk on the basis of the presented variables.
  • The results of the applied probit model reveal for the entire population set of publicly traded restaurant companies that the macroeconomic factors of the Recession, interest rate, inflation rate and unemployment rate all have a significant impact on the increased risk of fraud, as evidenced through a reported internal control deficiency.
  • As noted in the overall model, the results reveal that the model as a whole is a significant fit to the data. Although the company-level variables were not significant in the overall model, external factors were each significant.
  • Therefore, it can be said that the results of this study empirically support the intuition that changes in macroeconomic conditions may impact increased risk of fraud for companies in the restaurant industry.
  • It can be said that there is a significant relation between increased risk of fraud and the macroeconomic factors of interest, inflation, and unemployment rates.
  • from a managerial perspective, the study provides evidence that macroeconomic conditions that might affect consumer demand may increase the risk of fraud for publicly traded restaurant companies.
  • In addition to the high costs of compliance, it is also important to recognize additional managerial characteristics that may heighten the effects of the macroeconomic conditions on increased fraud risk.
  • As indicated by the results of the study, however, many times executive management does not recognize the problems associated with the macroeconomic conditions because of systematic perceptual filters that play the crucial role in the functioning of the company.
  • By focusing on the changing macroeconomic conditions that may have an empirical effect on demand, executive leadership will be able to streamline processes to avoid incidences of reporting internal control deficiencies when exposed to the macroeconomic conditions.
  • In the restaurant industry in particular, information is also not readily quantifiable, which makes it even more difficult to transform into meaningful and timely information for executive management. Particular examples include consumer insights and how well new promotions are received and moved throughout the market.
  • it should be noted that reported internal control deficiencies are indicative of increased fraud risk, but not necessarily conclusive that fraud has occurred. Therefore, just because a company has reported a deficiency, it does not indicate fraud, necessarily.
  • According to the model, the managerial factors are only exacerbated by the presence of macroeconomic factors.
  • the identified conditions could help managers to improve internal control when a high risk factor is realized. The contribution of this study may allow restaurant companies to deter activities that may result in increased risk of fraud.
  • Because the study revealed that the macroeconomic conditions were significant for the entire population of restaurant companies, an area of future research might explore the relevance of the co alignment model (Olsen &R o p e r , 1998) to strategic management decisions to reduce the risk of fraud.
  • for purposes of this study, privately traded companies are excluded. This is a limitation of the study because the results may indicate a problem that is more or less pervasive since the sample is representative of a small number of companies in the United States.
  • the model is limited in application because it does not take into account fluctuations among the variables over time.
  • marble_bird on 12 Jul 20
     
    This article covers the methodology and findings of a study conducted to examine the factors contributing to fraud risk in publicly traded restaurants. The article discusses factors in the fraud triangle, macroeconomic factors, and internal company factors that may contribute to fraud despite protections implemented per Sarbanes-Oxley. The study ultimately finds that internal company factors are insignificant when considering the impact on fraud risk, while macroeconomic factors, such as inflation or unemployment, drastically impact the level of fraud risk that a company may face.
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
smaka004

Cornell Study: Sustainability Certification Boosts Hotel Performance - Business Travel ... - 0 views

www.businesstravelnews.com/...ation-Boosts-Hotel-Performance

shared by smaka004 on 08 Sep 14 - No Cached
  • Prior to certification, the LEED-certified hotels had an average daily rate that was $10 higher than the noncertified hotels. In the two years following the certification, that average premium jumped to $20, according to the study.
  • "The LEED hotels quickly made up the occupancy deficit recorded in the year prior to certification, and they outperformed competitors for two years following certification."
  • smaka004 on 08 Sep 14
     
    A recent study by the top-ranked School of Hotel Administration at Cornell University has found that certification by the U.S. Green Building Council's Leadership in Energy and Environmental Design, also known as LEED certification, actually provides a boost in revenue for hotels. The Council takes various factors into account prior to certifying a hotel, including "water efficiency, energy use, and indoor environmental quality. When compared to 514 non-certified hotels, the 93 hotels afforded LEED certification excelled in their gross income based on the average daily rate (ADR) standard. Over a time of two years, the LEED-certified hotels outperformed their non-certified competitors. In fact, LEED-certified hotels were able to match the levels of occupancy of non-certified hotels in a single year. Since LEED certification in the hospitality industry is fairly new, there is little empirical evidence to further back the conclusions of this particular study. Though LEED certification of hotels has actually declined since 2010, I believe that the more hotel controllers start to understand its benefits, the quicker we will see it adopted as an industry standard. It is worth noting that this study specifically focused on 93 upscale and luxury properties, but compared them to nearly five times as many hotels without certification. I think a more accurate study will divide up hotels based on their pricing category (budget, midscale, upscale, luxury, extended stay, etc.) and compare the benefits of LEED certification with that in mind. Lastly, it is unclear if the study found any higher level of consumer preference for LEED certified hotels. Instead, the benefits seem to come with the standards that LEED certified hotels must meet, in turn resulting in lower expenditures. Perhaps more sophisticated customers at luxury properties are more keen to environmental protection and stewardship, and thus take LEED certification into account. However, I believe that most of
marble_bird

Roche2016_Article_RecreationalDivingImpactsOnCor.pdf - 0 views

shared by marble_bird on 07 Jul 20 - No Cached
  • Recreational diving on coral reefs is an activity that has experienced rapidly growing levels of popularity and participation.
  • the potential role of dive impacts in contributing to coral reef damage is a concern at heavily dived locations. Management measures to address this issue increasingly include the introduction of programmes designed to encourage environmentally responsible practices within the dive industry.
  • Coral reefs are a threatened, but globally important ecosystem, providing key services to local communities such as coastal defence, sediment production, and fisheries benefits
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  • The role of dive supervision was assessed by recording dive guide interventions underwater, and how this was affected by dive group size.
  • Over recent decades, tourism activities benefiting from the pleasing aesthetics and biodiversity of coral reefs, primarily SCUBA diving and snorkelling, have experienced rapidly increasing numbers of participants globally
  • We found evidence that the ability of dive guides to intervene and correct diver behaviour in the event of a reef contact decreases with larger diver group sizes. Divers from operators with high levels of compliance with the Green Fins programme exhibited significantly lower reef contact rates than those from dive operators with low levels of compliance.
  • Damage to corals on dived reefs often occurs as a result of skeletal breakage, particularly in branching species (Guzner et al. 2010;H a s l e ra n dO t t 2008). Tissue abrasion can also result from diver contact (Hawkins et al. 1999), and a recent study reported a higher incidence of coral disease in areas heavily used for recreational diving
  • It is possible that other diver characteristics such as qualification level or dive experience may affect the ability to respond to dive briefings, although several studies have failed to find a correlation between divers’ reef contact rates and experience
  • Due to the difficulties of effectively addressing global stressors, an emerging recommendation is the focus of coral reef management on local scales (e.g. Anthony et al. 2014). A frequent challenge facing managers and policy makers at local levels relates to the maximisation of tourism benefits whilst simultaneously reducing its environmental impacts
  • Alternatively, previous experience and possible affinity and attachment to a specific dive site may influence how closely divers follow pre-dive briefings and affect their behaviour underwater, as suggested by place attachment theory
  • The methodologies which have been developed to minimise the environmental impact of SCUBA diving on coral reefs can be summarised as follows: (1) managing or restricting diver numbers, (2) regulating the locations in which SCUBA diving activities occur, (3) regulating the types of equipment used, and 4) implementing programmes which seek to manage the methods used by the dive industry in providing their services. Restricting diver numbers is based on the concept of a reef dive site’s ‘carrying capacity’; a level beyond which diving impacts become readily apparent.
  • Restriction of SCUBA diving equipment has focused on banning the use of accessories believed to increase reef contacts within marine protected areas such as gloves, muck sticks, or underwater cameras; however, such regulations are often unpopular within the SCUBA diving community
  • Governments and reef managers seek evidence that the effort expended in implementing programmes translates into measurable benefits; however, research into the effectiveness of such programmes at influencing diver behaviour and reducing diving impacts is limited.
  • In this study, we focused on dive operators participating in the Green Fins diving programme at three major dive locations within the Philippines.
  • Nonetheless, levels of dive supervision underwater would intuitively appear to be linked to rates of reef contact, and when examined, the willingness of dive guides to intervene in correcting diver behaviour underwater has been found to significantly reduce diver contact rates
  • Malapascua Island, Moalboal, and Puerto Galera.
  • divers may have been aware that a Green Fins compliance assessment was taking place, but they were unaware that diver contacts with the reef were being specifically recorded. Green Fins environmental assessments and diver observations were conducted simultaneously.
  • Dive guides and guest divers from 44 dive operators participating in the Green Fins programme were followed
  • Diver characteristics with potential to influence underwater behaviour were categorised as the following factors: diver qualification level (three levels), dive experience (five levels), and previous number of dives at site (three levels).
  • Divers were assigned a unique diver number, and then followed and observed underwater for the entire duration of their dive.
  • If the overall group was very large such that the dive guide could not be seen from the rear of the group, the pair immediately behind the dive guide was selected.
  • Compliance with the Green Fins approach was determined by utilising diver contact rates and dive guide intervention rates as at the dependent variables of interest, and by defining dive operators according to those who had received a high score (above the median score) versus those with a low score (below the median score) on the most recent conducted Green Fins assessment
  • The part of the body or item of equipment making contact with the reef was recorded as follows: hand, fin, knee, camera, muck stick (a handheld stainless steel or aluminium rod approximately 30 cm in length) and equipment (e.g. tank, submersible pressure gauges, octopus regulator), and multiple (parts of the body and equipment simultaneously). The time during the dive at which the contact occurred was also recorded.
  • If observable damage (i.e. breakage, obvious physical damage, or injury) occurred as a result of the contact this was recorded, together with the apparent awareness of the diver to the contact, regardless of damage caused.
  • Contacts made with a camera (77.7 %) accounted for the highest proportion of contacts which resulted in damage, followed by contacts made with the knee (43.3 %), multiple body and equipment parts (38.2 %), equipment (30.7 %), fins (29.8 %), hands (24.7 %), and muck sticks (23.5 %).
  • A total of 100 SCUBA divers were observed at three diving locations within the Philippines (Table 1). The majority (72 %) of these divers were male, and diving experience ranged from those completing diving training to those who were instructors elsewhere with experience of hundreds of dives.
  • Following dive completion, divers that had been observed underwater were asked to complete a survey to determine diver characteristics.
  • Most contacts were made with fins (45.5 %, n = 261); however, hands (19.5 %, n = 112) and dive equipment (15.9 %, n = 91) were also major contributors to the total number of contacts
  • Interventions were defined as an event in which the dive guide intervened in diver behaviour through signalling or demonstrating correct behaviour in order to minimise or prevent contact with the reef.
  • A total of 81 interventions were observed (in comparison to 573 reef contacts—see Fig. 4 for the distribution of contacts and interventions);
  • Camera systems were carried by 55 % of divers; camera-wielding divers accounted for 52.7 % of the total contacts made with the reef. Of divers who utilised a camera, 35 % carried a non-specialist compact type and 20 % carried an SLR type within a specialist underwater housing.
  • Mean (±SE) dive time was 49.3 ± 0.42 min. A total of 573 diver contacts with the reef were recorded during all assessed dives.
  • The difference in the frequency of interventions was statistically significant (ANOVA, f = 4.81, P = 0.03)
  • although a significant portion (36 %) appeared unaware of the contact they made with the reef.
  • In addition to overall contact levels, some studies have also quantified reef contacts either as the mean number of contacts per diver over the duration of a dive or the diver contact rate per minute of dive time. The mean contact rates of 5.7 contacts per dive, or 0.12 contacts per min, which we observed at dive sites in the Philippines are lower than those previously reported
  • All divers observed within the present study were diving with operators participating to various degrees in the Green Fins environmentally responsible diving programme.
  • Identifying factors and policy measures which influence SCUBA diver behaviour underwater can help coral reef managers determine where to most effectively focus effort and funding with respect to dive management. In this study, we found that 88 % of the divers observed made at least one contact with the reef at some point
  • Divers who are more conservation aware and who contact the reef less may preferentially choose to dive with environmentally ‘accredited’ dive operators; indeed, this assumption partially drives dive operator participation in such programmes.
  • Underwater interventions by dive guides have been suggested to be the most successful deterrent to diver contact with reefs (Barker and Roberts 2004). In this study, there was no significant difference in the intervention rates between dive centres of high and low Green Fins compliance. Therefore, we cannot attribute the observed difference in diver reef contact rates to differences in intervention rates between these two groups.
  • Studies examining the effect of carrying camera equipment on the frequency of diver contacts with the reef have produced conflicting results.
  • Additionally, the administration of a pre-dive briefing can influence diver contact rates underwater (Medio et al. 1997). The Green Fins programme incorporates the use of a pre-dive briefing that emphasises the importance of refraining from contacting the reef, which would be expected to result in lower diver contact rates.
  • A concern amongst representatives of the diving industry is the use of muck sticks to manipulate animals unnecessarily—pushing animals out of holes for better viewing, stressing animals to show customers their stress behaviour (e.g. an octopus changing colour), and physically breaking hard coral to be used in photographs.
  • When examining the part of the body or dive equipment which made contact with the reef, we found that the majority of contacts were made with fins, in agreement with Krieger and Chadwick (2013) and Rouphael and Inglis (1998).
  • It has previously been noted that dive guides customarily perform different roles at dive locations globally; at some locations, they act primarily to lead the dive group around the reef, whilst at others, pairing with and closely supervising individual divers throughout the course of a dive
  • this suggests that dive guides carry out the closest supervision during the initial phase of the dive and then switch to a ‘dive leader’ role at the front of a dive group.
  • This study provides evidence that the effective implementation of environmentally responsible practices, via programmes designed to reduce diving impacts, may translate to reduced diver reef contacts.
  • Many diver characteristics which might intuitively be expected to impact reef contact rates, such as level of qualification and overall experience, were not significant influencing factors in this study, and high versus low levels of Green Fins compliance did not influence the number of interventions made by dive guides underwater.
  • For continued economic benefit and conservation of Philippine reef dive locations, we recommend that management measures facilitate high levels of compliance with environmentally responsible diving programmes to reduce the impact of diving on coral reefs.
  • marble_bird on 07 Jul 20
     
    This article discusses a study performed at various diving locations in the Philippines to determine whether or not measures taken by Green Fin diving guides were effective in reducing contact with coral reef systems. The study also recorded the average number of contacts with the reef during a dive, as well as the equipment or body part which came into contact with the reef most often, and which actions resulted in the most damage. The study finds that adherence to Green Fin standards or other policies may significantly impact diver behaviors and reduce the level of contact with sensitive coral reefs during SCUBA dives.
rebecca Bonet

Study Touts Mobile Innovation as Major POS Influencer | News | Hospitality Magazine (HT) - 0 views

hospitalitytechnology.edgl.com/...n-as-Major-POS-Influencer82236

shared by rebecca Bonet on 04 Oct 12 - No Cached
  • that current POS were not well integrated into other IT systems (28%); that the POS is not ready to grow with their company (26%); and that it is difficult to add additional modules or functionalities to the current POS (30%).
  • negative perceptions of wireless POS have given way to a more positive outlook
  • E-wallet payment was the most widely recognized new payment option with 36% of respondents indicating they wanted it with their next POS.
  • ...8 more annotations...
  • Three quarters of respondents reported that mobile POS capabilities were the top technology features they wanted for next POS solutions.
  • that current POS were not well integrated into other IT systems (28%); that the POS is not ready to grow with their company (26%); and that it is difficult to add additional modules or functionalities to the current POS (30%).
  • and this was echoed in the VSR study. Three quarters of respondents reported that mobile POS
  • echoed in the VSR study. Three quarters of respondents reported that mobile POS capabilities were the top technology features they wanted for next POS solutions.   Reasons for this vary from improving the customer experience (63%); mobile POS providing associates with better tools (54%); speeding up checkout (39%); and providing a more mobile workforce (32%).
  • Reasons for this vary from improving the customer experience (63%); mobile POS providing associates with better tools (54%); speeding up checkout (39%); and providing a more mobile workforce (32%). 
  • According to the report, restaurant operators have a wish list of anticipated POS platforms that go beyond mobile POS (49%).
  • Improving payment options remains also was named as an important—if not dominant— POS technology for many respondents.
  • All of these payment options require a POS that is PCI Compliant and capable of recognizing the new payment technologies. E-wallet payment was the most widely recognized new payment option with 36% of respondents
  • shuo zhang on 04 Oct 12
     
     In the customer survey the mobile POS requirement is high, and the online payment is also popular among consumers. The trend is obviously and the development of such technology will become beneficial investment for the company.  
  • YUE LI (3325307) on 06 Oct 12
     
    This article shows us the result of VSR Magazine's first annual "2012 POS Study". The result indicated some developments and some worries of end users. 28% current POS were not well integrated into other IT systems, the POS is not ready to grow with their company, and it is difficult to add additional modules or functionalities to the current POS. But it also indicated negative perceptions of wireless POS have given way to a more positive outlook. Most of them wanted mobile POS capabilities to be the top technology features for next POS solutions because of three reasons. Firstly, mobile POS is vary from improving the customer experience. Secondly, mobile POS providing associates with better tools. In addition, it speeding up checkout and providing a more mobile workforce. Most of them wanted E-wallet payment in the next POS. some others were interested in near-field communication payment, while very few people want future POS to recognize near-field communication coupons.
  • rebecca Bonet on 06 Oct 12
     
    The article talks about the results of first annual "2012 POS Study." The study were POS were not well integrated into IT systems 28% that the POS is not ready to grow with their company(26%) and to the additional modules or functionalities to the current POS ( 30%). Secondly, the study also shows the negative perceptions of wireless POS have given way for positive outcomes. For example, they want mobile POS capabilities were the top technology features they want for the next POS solutions. According to reports, restaurant operators have a wish list of anticipated POS platforms that go beyond mobile POS. Finally, E-wallet payment was the most widely recognized new payment option, with 36% of respondents that they want it with their next POS.
marble_bird

Hotel_ITSec.pdf - 0 views

shared by marble_bird on 15 Jul 20 - No Cached
  • During the past decade, information technology (IT) has significantly changed the way the hotel industry controls and manages operations. While many technologies have been utilized, some newer technologies have emerged in the literature and in practice, and many of them impact the hotel’s security.
  • Among the results, this study identified a gap between hoteliers’ understanding of IT budget adequacy and the adequacy of installed IT security systems.
  • Advancements in technology are increasing at a remarkable rate. As technology becomes more important, organizations that do not keep up with these advancements could lose business opportunities to other competitors that do
  • ...53 more annotations...
  • The four leading technologies which have showed a high adoption rate from the industry and have received attention from academia are: self-service, wireless, green, and security technologies. The advantages of these technologies for hoteliers include enhanced customer services and operational efficiency (Doyle, 2007), decreased guest wait times, more efficient methods to settle bills (Singh & Kasavana, 2005), reduction of energy costs (Meeroff & Scarlatos, 2007), and protection of sensitive customer data and credit card numbers
  • In addition, exploring the influential factors of security system usage will provide greater depth of knowledge with respect to why some hotels have adopted more security systems than others.
  • there is still a lack of understanding of the nature of risk associated with inadequate IT security, especially among operators of hotels that do not have their own IT departments.
  • Self-service technologies are commonly defined as devices or applications which permit users to produce a service independent from the direct involvement of the service provider (Meuter, Ostrom, Roundtree, & Bitner, 2000). The use of self-service technologies in the hotel industry has grown considerably, especially in the areas of self check-in, in-room check-out, and foodservice kiosks
  • IT systems refer to general support systems such as mainframe computer, mid-range computer, and local area network.
  • Some of the most significant wireless technology applications involve the use of mobile handheld devices, such as personal digital assistants (PDA), tablet PCs, and cellular phones, or RFID (radio frequency identification). RFID utilizes computer chips and antennas, allowing the chips to wirelessly communicate with a receiver.
  • While the major usage of RFID in the hotel industry was for inventory control purposes, it also has the potential to be utilized in ways that can provide more conveniences for the guests.
  • Other possible uses include placing RFID tags on items of high value as a means of theft prevention or integrating tags into guest loyalty cards for easy identification
  • IT investment that lowers environmental impact and IT that manages the environmental impact of other systems are commonly referred to as “green technology”
  • Many hoteliers might think becoming more environmentally friendly will cost more for their hotels. However, it has been demonstrated that “going green” is not only the right thing to do for the environment but also provides tangible bottom-line benefits for hotels by reducing consumption of energy and water, as well as other related costs.
  • Some of the risk factors involved include reliability, security, and privacy issues
  • A hotel with more technologies being utilized will install more security systems than those with fewer technologies.
  • Many of these attacks involve attempts by thieves to gain access to customer credit card data, and these attempts constitute a major portion of the risk inherent in IT security
  • if a system is breached and the merchant is not PCI compliant, the merchant then is responsible for all costs associated with improperly used credit card information taken from that system (Kress, 2008). These losses could bankrupt a business if the security breach goes undetected for even a short time.
  • IT security systems are those measures taken to protect the confidentiality and integrity of proprietary data.
  • two main paradigms of adoption are believed to occur: bottom-up adoption and top-down adoption.
  • Thus, it is reasonable to assume that organizational factors (e.g., financial factor, human resource) will influence the implementation stage of security systems at a hotel.
  • A hotel with sufficient IT budget will install more security systems than those with insufficient IT budget.
  • That is, if a hotel does not have its own IT department, it will have a negative influence on successfully installing or maintaining necessary security systems.
  • A hotel with its own IT department will install more security systems than those without.
  • Overall, the state of IT spending on security continues undiminished because managed security services are required for almost every application (Communications News, 2007).
  • risk associated with a breach of IT systems security (e.g., network break-ins) is very high. Consequently, no sector of the business community is exempt from attacks on their IT systems, with an attack being defined as a technique used to exploit a system’s vulnerabilities.
  • Given the importance of security and privacy at a luxury hotel, this study expects luxury properties to have installed more security systems than other segments
  • Most hotel employees use their property management systems for hotel operations and should be able to check their e-mails.
  • To justify the low response rate, previous studies which have compared response rates of mail and e-mail for surveys were reviewed.
  • the large majority of respondent properties do not have their own IT departments. Second, the people making IT decisions generally do not have IT backgrounds or training. Third, the large majority of respondent properties have little more than firewalls or antivirus software to protect their proprietary data, and these systems alone are not adequate to meet PCI standards, as they do not take steps to encrypt and protect cardholder data, maintain a vulnerability management program, implement strong access control measures, regularly monitor and test their networks, and maintain an information security policy as required by the Security Standards Council.
  • The respondents were asked to select from a total of fourteen securities related systems
  • The profile of the respondents revealed that they were experienced hoteliers with more than ten years experience in the industry
  • Fifty-three percent of the respondents reported that they were with chain hotels that would be considered mid-range properties with an average of 175 rooms (median of 107). Over 80% of the respondents reported working in operations, while fewer than 4% reported working in either IT or engineering (Table 1).
  • Nearly 70% of the respondents’ properties did not have their own IT department (69.2% did not have, and 30.8% had their own IT departments, n = 234, missing data = 10).
  • Fifty-three percent of them (n = 244) thought the most important goal for hotel technology would be enhancing the customer’s experience.
  • second identified goal was utilizing technology to help generate revenue (41%)
  • differentiate properties from their competition (20%), to lower expenses (16%), and to increase security (6%).
  • Internet kiosks in the lobby represented the most frequently used self-service technology (36.5%, n = 244), followed by kiosks for airline check-in/board pass
  • With respect to security systems currently in use, antivirus security systems represented the most frequently used security system (92.2%), followed by hardware firewalls, software firewalls, physical security, and encrypted login security systems.
  • intrusion detection was the most frequently identified system (15.6%), followed by vulnerability assessment scanning (13.5%), Internet scanning (13.1%), antivirus (11.5%), digital ID server (11.5%), and nonreusable passwords (9.8%; Table 2).
  • Thus, the hypothesis was supported that there was a linear relationship between the three factors and the adequacy of security systems.
  • The positive standardized coefficient (β) of .389 indicates that there was a statistically significant (p < .001) linear relationship between IT usage (the number of wireless, self-service, and green technologies a hotel was using) and the adequacy of security systems
  • The study revealed certain things of interest, the most significant of which is the need for greater emphasis on IT security among hoteliers.
  • only about 30% of all respondents reported having their own IT departments. Since budget hotel properties are extremely unlikely to have an IT department, it is highly likely that the very large majority of IT decisions throughout the industry are being made by hotel operators for whom IT is not their primary area of concern.
  • Furthermore, the focus of hoteliers for future IT implementations is enhancing the guest experience (53%) and generating revenue (41%). Very few respondents (6%) identified increasing security as a 5-year IT goal.
  • While almost all respondents use information systems as part of their jobs, very few are trained in the development, maintenance, and secure use of these systems.
  • no correlation was found between the respondents’ perceived adequacy of their IT budgets and the adequacy of installed security systems, as adequacy of IT budget did not appear as a significant term in the regression analysis.
  • Nearly 10% of respondents do not have so much as anti-virus protection for their systems, and nearly half do not even take simple physical precautions to protect their IT systems.
  • we note that no correlation exists between the respondents’ perceived adequacy of their IT budgets and the number of installed IT security systems, as the number of installed systems was not a significant factor in the regression analysis.
  • The sample obtained in this study represented the targeted sample: over 80% of the respondents were working in hotel operations. Furthermore, the purpose of this study was to explore hotel operators’ insight of technology usage, IT budget, and security measures rather than to confirm existing theories or to generalize the results.
  • it is reasonable to conclude that the respondents did not have an adequate understanding of the nature of the IT security hazards facing them for the average property does not have installed systems adequate to meet PCI standards, yet they reported having adequate budgets.
  • In order to adequately protect proprietary data, one must have an understanding of network security, which is an understanding apart from software functionality.
  • Properties with their own IT departments, however, reported that they had a higher number of installed IS security systems than did those properties without their own IT departments.
  • roperties without their own IT departments, in particular, have a less adequate understanding of their IT security needs than may be necessary.
  • This study found hoteliers’ lack of attention to security provision, training in IT, and PCI compliance can place hoteliers at great risk. For example, the cost of a single incident at a noncompliant property could result in the loss of the entire business.
  • It will be useful to examine the reasons why luxury properties are more likely to employ adequate security measures to determine whether this greater use is attributable to better understanding of security issues or some other factor.
  • The study was limited by the nature of online surveys; the response rate was quite low. Future studies could test the proposed research model via paper-based mail surveys to increase a response rate.
  • marble_bird on 15 Jul 20
     
    This article covers a study performed on various hotels to determine management's level of IT knowledge and security implementations in relation to the hotel's IT security budget. The article discusses four types of technology impacting the hotel industry and how management responses to trending technology can affect a business, particularly in terms of a data breach and overall security. The study finds that an alarming percentage of hotel managers are not adequately informed on the risks and procedures of IT management and security, and many do not have proper IT security measures in place despite having an appropriate budget.
lamia elachchabi

Hotels are failing to invest in training for Property Management Systems (PMS) | By Hil... - 0 views

www.hospitalitynet.org/...4057895.html

shared by lamia elachchabi on 28 Sep 12 - No Cached
  • These results show that there is still a lack of the optimal use of the PMS in hotels as there is not enough training for its use provided to the employees
  • The hotels in our sample show higher occupancy levels when hotels allocate more budget to training for PMS. Also, occupancy levels are higher when a combination of BOTH in- house training PLUS training through the PMS supplier is employed
  • This research supports that the (previously reported) under-utilization of the PMS may be due to the lack of training and budget! This research indicates that the training provided is mostly internal and not with the PMS supplier.
  • ...6 more annotations...
  • This indicates that as PMS training budget is increased, hotel revenues increase as well and in a much higher ratio than the input budget.
  • These results show that there is still a lack of the optimal use of the PMS in hotels as there is not enough training for its use provided to the employee
  • About 150 mid-scale and up-scale hotels around the world answered a questionnaire investigating the training on the PMS (measured by number of days, budget, and training provider) and performance (measured by occupancy, ADR, GOR). Most hotels (65%) stated that they had no budget for training on the PMS in 2011 and 32% of hotels offered no training at all to their employees on the PMS. 40% of the hotels surveyed provided up to 3 training days per year (Chart 2). Most of the training is conducted internally, rather than using the PMS providers. In cases where there is no training, the new employees are simply "shown the ropes" by their supervisors (Chart 3). As can be seen in chart 1 below, there is little/ no budget allocated to training.
  • Revenues of hotels are much higher as the PMS training budget went above 5000 Euros per year
  • Early indications from this ongoing research project show that effective management of the PMS training resources (e.g. training days, budget) may result in increased revenues for the hotels.
  • The Property Management System (PMS) is the key technology for hotels and a significant source of not only customer data but also operational data that can help the strategic and operational decision making of hotels.
  • anonymous on 28 Sep 12
     
    Summary: This article is about a study done at Ecole Hoteliere de Lausanne on the investment of PMS training and its relationship to a hotels performance. The study resulted in positive correlations between PMS training and revenues. Opinion: Training employees on the PMS seems like common sense but most hotels do not believe it is necessary. This study and its results make perfect sense but I am also a little surprised by the significant increase in revenues that is created from properly training employees on PMS. 
  • ...1 more comment...
  • Manali Rabari on 28 Sep 12
     
    This research study shows that 65% of hotels don't spend money in adequately training employees with PMS training. If training is conducted it takes as little as three days and usually done internally and not with the PMS supplier. Hotels that invest the time and money in properly training its staff benefit with having higher revenues. Employees will be able to operate more efficiently at their jobs if they are properly trained. Minimal training will only result in a snowball effect of future staff hired within the hotel, therefore leading to inefficiency in the entire staff. Hotels need to see their employees as assets in order to build a successful business.
  • lin liu on 17 Feb 13
     
    This article is about a current study, in which about 150 mid-scale and up-scale hotels around the world answer the questionnaire. This study analyzes the relationship between PMS training and business performance, and the investment in training in PMS. Although every hotel manager knows the PMS is the key factor for hotels development, not only for getting customer data but also for decision making. The result shows that most of PMS system in hotel have not been made full used, there are many potential abilities can't be exploited. According to the study, most hotels don't have budget on PMS training. And also 32% of hotels don't provide training to all employees on the PMS. Plus, even they have training, it is very short and just in internal, no using the PMS providers. This study also shows us the hotels have a higher level of occupancy when they allocate more budgets on PMS training and have PMS suppliers training. There is also a relationship between PMS training budget and hotel revenues, the more budget on training bring a higher revenues. And the revenues are much higher than budgets. Hotels also need efficient management of PMS training, which means more revenues and full use of PMS.
  • lamia elachchabi on 24 Jun 13
     
    The property management system is a tool not only is customer data but it can also help strategic and operational decision making. The study undertaken investigates the investments in training in PMS and the relationship between training and business performance. A big majority has no training or offer a very little training. There is a support that underutilization of the PMS is due to the lack of training. There is a higher occupancy level when hotels allocate higher budgets to PMS trainings. There is a significant positive correlation that shows a relationship between PMS budget and the gross operating revenues of hotels.
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.  
marble_bird

ContentServer.pdf - 0 views

shared by marble_bird on 07 Jul 20 - No Cached
  • The development of technology has made it easier for the traveller to book hotel rooms by the website. The number of online websites that provide services for the hospitality industry is on the rise.
  • According to Quinby and Jain (2012) (which research the OTA market in Australia, China, Japan, India, Indonesia, Malaysia, New Zealand, Singapore and Thailand), the Asia Pacific’s online travel booking on 2011 is estimated to be US$ 1,6 billion/year and predicted to rise 30% to 40% on the next periods
  • In the hotel industry, the internet has had a big impact on the evaluation of the distribution channel, which pushed the industry from a traditional operation (offline) to an online operation system
  • ...22 more annotations...
  • The use of the internet has changed the hospitality industry by helping organize, promote and market tourism products and services, as well as helping communication, online transaction, and distribution systems for hoteliers and consumers
  • With the growing number of hotels in Indonesia, the number of online websites which offer hotel rooms also increases.
  • this study examines the process of online hotel decision making by focusing on the effect of website quality on the customers’ e-Trust.
  • The two key issues we wish to examine are: (1) whether customer’s perception of the website’s usability influenced e-Trust; and (2) whether customer’s perception of the website’s ease of use influenced their e-Trust.
  • Nowadays there are more travellers than ever that search the internet medium for information of the tourist destination and the process of booking the trip, as evidenced by the increase of information access through the search engine and social media and also online hotel booking
  • A hotel’s website is not only an information channel but also a trading form, where it not only provides news and data, creates a brand image but also works
  • as a sale tool. But this ease does not come without a weakness. Communication by the internet creates uncertainty and risks have become an intrinsic attribute of e-commerce from them complexity and anonymity of online purchase.
  • A good website must be easy to use, understandable, and navigate well (Aziz, 2014). The easiness of using the website’s features can influence the customer’s interest in using the online service and push their booking intention
  • Because OTAs are such an important channel for hotel distribution, the industry should pay close attention to the way hotels are presented on OTA web pages.
  • The level of usability of a website will determine whether a user will stay or leave to find another website
  • website quality becomes the main factor in e-commerce because the perception of the website quality will trigger the customers’ purchase intention directly.
  • The ZEN Rooms website effectively delivers information and adopted a good interaction design to make sure consumers can easily navigate the website and find useful information.
  • Usability refers to whether a hotel’ s website can provide sufficient information about the product and the service, while ease of use showed the level of which a hotel’s website is easy to navigate and customer-friendly.
  • e-Trust is the consumer’s trust or confidence that the seller will not abuse the consumer’s vulnerability .
  • Sparks and Browning (2011) found that consumers depended on the easiness of information processing while evaluating a hotel based on online reviews.
  • risk-taking behaviour based on consumer’s positive expectations of a hotel’s website was called e-Trust. E-Trust plays an important role in online booking because of the risk that comes with online service
  • A hotel’s website that has good usability has a significant result on the consumer’s e-Trust. This finding is in line with previous study from Bai et al. (2008) and Wang et al. (2015) which also stated the significant impact between the usability variable towards online booking intention, where the higher a website’s usability was, it automatically affected customer’s e-Trust and willingness to make an online hotel booking.
  • The effect of usability of the website and ease of use of the website on e-Trust among participants of this research is elaborated upon in Table 1. The data in this table display the outcomes of a multiple linear regression analysis.
  • The other variable in this study, which is the ease of use, did not have any significant result on consumer’s e-Trust. This finding is different from previous studies conducted by Shen and Chiou (2010) and Venkatesh and Agarwal (2006) which stated that a website’s ease of use could help consumer’s online booking intention.
  • There is no significant impact between genders and e-Trust. The findings of this research propose that gender does not play a significant role in the attention of guests toward e-Trust and both genders are highly confident of having online booking purchase of hotel rooms.
  • The current study is not without limitation, such as the scope of the research. Future studies could conduct similar research but through a mobile application instead of the website. The internet keeps developing and there are changing platforms from website to mobile application so the use of mobile in the hotel industry is unsurprising and expected
  • The importance of having information towards the relationship between a website’s usability and consumer’s e-Trust is essential to help maintain the attributes of a website’s quality to keep consumer’s e-Trust of the hotel.
  • marble_bird on 07 Jul 20
     
    This article covers an Indonesian study performed to study factors that influence online bookings of consumers. The main factors considered in the study were the perceived usability of the website and the ease of use. The study found that perceived usability influenced the decisions of the consumer, while the actual ease of use did not.
emilywest5

Developing an eMarketing model for tourism and hospitality: a keyword analysis - ProQuest - 0 views

www.proquest.com/...2498998516

technology hospitality tech software business hotel travel

shared by emilywest5 on 13 Feb 23 - No Cached
  • Advances in IT have prompted the hospitality and tourism industries to move in a new direction, i.e. internet marketing or eMarketing (Leung et al., 2015)
  • On the other hand, from the customer perspective, tourism and hospitality are an information-intensive consumption experience because a customer might make considerable efforts to collect information and understand the image of a travel destination before making a purchase decision (Kim and Law, 2015). In this regard, search engines and social media are two of most fundamental information sources for making such decisions (Xiang and Gretzel, 2010). With their information-sharing capability, social media empower customers, granting them a “democratic consumption culture” by reducing information asymmetry and increasing their bargaining power (Leung et al., 2013). The pervasiveness and powerful computational capability of mobile technology make it possible for tourists to easily access information, book online services or even make impromptu purchases (Kim and Law, 2015). Apparently, the tourism and hospitality industries have been facing a revolution that has arisen largely because of IT turbulence (Piccoli, 2008).
  • Studies suggest that IT plays a prominent role in the tourism and hospitality industries, and it will be imperative, and indeed beneficial, for tourism and hospitality practitioners and scholars to keep abreast of all the advances in IT
  • ...11 more annotations...
  • Correspondingly, the frontiers of IT-related research will not only benefit the innovation and encroachment of the industry but also support managers, researchers, policymakers and other interested audiences in understanding the progress of developing trends and themes in the context of IT development
  • Among these analyzes, the keyword co-occurrence network particularly aims to construct knowledge, as the keywords of an article are anchored by the authors to distill the core concepts of a paper. Keywords generally represent the main idea of a research paper and express authors’ understandings of their work within the thematic context of their research domains (Ali et al., 2019). Keywords are regarded as one of the most meaningful indicators of an article’s content (Weismayer and Pezenka, 2017). Although keywords indicate the topic area and key variables/theories used in a study, they do not convey key findings such as the causal relationship between two keywords. Nevertheless, a group of keywords from the same domain creates an intellectual knowledge map of that realm. A knowledge map is generated from keywords according to the following steps
  • Keywords are collected from journal articles. A network of these keywords is built. A knowledge map connects the same keywords in different articles. A complete knowledge map is formed when all articles undergo the previous three steps.
  • eMarketing Capability As this study’s model of eMarketing capabilities is a major contribution and these capabilities play a critical role in marketing performance, future studies can investigate the antecedents/consequences of eMarketing capability, develop a scale or investigate the formation process of this construct. Future studies might validate the proposed model-based either on a single eMarketing capability or on multiple eMarketing capabilities. Empirical studies could benefit the development of research concerning eMarketing tourism and hospitality.
  • 3. Methods3.1 Data collection
  • 3.2 Data processing
  • 3.3 Analysis process and tools
  • Emerging Digital Technologies The purpose of this study is aimed at understanding the impact of IT on tourism and hospitality. However, as IT continues to evolve and advance, and as new technologies often alter customers’ behavior, as well as firms’ marketing strategies, it is necessary to pay attention to the impact of new digital technologies on focal fields. Specifically, it could be interesting and promising to explore the impact and role of forthcoming digital technologies in different eras, specifically, artificial intelligence, machine leaning, AR, virtual reality (VR), mixed reality (MR), chatbots, robotics, blockchain, 5 G or the internet of things (Park et al., 2018; Tung and Au, 2018).
  • As the database contains journals from various domains, this study first identified the target journals by using the keywords “travel,” “tourism” and “hospitality,” identifying 24 journals. Next, as these journals are affiliated with different publishers, the keywords “IT*,” “IS” and “technology*” were input to search ICT-related articles on the official website of each journal from its first issue to April 2020.
  • Customer Equity and Engagement Value Customer equity and engagement value are two of the crucial variables that require a better understanding in the eMarketing tourism and hospitality research. With the application and support of advanced IT and quantitative mathematical models, it will be valuable for future work to explore all aspects of the factors that influence customer experiences over time to synergize and maximize customer equity and CEV for DMOs or hotels.
  • Marketing Performance Apart from loyalty, other marketing performance indicators including financial and non-financial ones are encouraged to be developed. Such work will contribute to both the tourism and hospitality academia and allow industrial managers to link financial performance with innovative IT in terms of profit, sales revenue or cash flow. Moreover, assessing non-financial marketing performance (market share, quality of services or CEV) will help researchers and managers better understand the predictors of future financial performance than traditional accounting measures have in the past, and it should also supplement financial indicators in internal accounting systems (Ittner and Larcker, 1998). Finally, it will be contributory to develop a combined indicator linking financial and non-financial measures. Table 4 summarizes the overview of future research avenues.
  • emilywest5 on 13 Feb 23
     
    This article is about how hospitality and tourism have been reshaped through IT, eMarketing and how it has helped prove sales, information, made destinations more popular and also help travelers plan. eMarketing also is a massive platform for word of mouth. This study also shows what helped eMarketing become what it is. When certain things are typed into search bars, this data is collected and used for eMakreting and to target specific groups of people.
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.
emilywest5

Automation and artificial intelligence in hospitality and tourism | Emerald Insight - 0 views

www.emerald.com/...html

technology hospitality tech software business

shared by emilywest5 on 05 Feb 23 - No Cached
  • Human knowledge, services and robotics applications were the most significant factors influencing automation and AI implementation. Practitioners and researchers in the hospitality and tourism industry could apply the proposed framework to develop sustainable strategies for implementing and managing automation and AI. The proposed framework may also be useful in future studies examining AI implementation in the hospitality and tourism industry.
  • Smart technologies like automation and artificial intelligence (AI) have become important elements of hospitality and tourism
  • Hospitality and tourism firms use smart technology to dynamically enhance consumer experience (Buhalis and Sinarta, 2019). Smart hospitality and tourism have provided opportunities for firms to enhance their operations and productivity, resulting in higher quality products and better processes for delivering services to customer
  • ...12 more annotations...
  • Although hospitality and tourism organizations have already implemented smart technologies such as AI and robotics into their business activities (Epiknetworks, 2018), the companies adopting them are still limited owing to the individual, organizational and external environment barriers.
  • Researchers still need to engage better, investigate and understand these nascent developments (Murphy et al., 2017), and limited studies have examined the implementation challenges.
  • Technological development plays a vital role in tourists’ decision-making processes. Digital technologies and cyber-physical systems may even act as extensions of a tourist’s self (Stylos, 2019). Several researchers have focused on the importance of including AI in tourism education (Murphy et al., 2017) and to be prepared for technology shifts in their industry
  • They also suggested that employees in the hospitality and tourism sector should study robot design and machine learning to link changes in technology to the international tourism industry.
  • In future, tourism will take place in a robonomic economy and tourists will demand a high-touch service experience
  • The use of smart technologies such as chatbots usually receives positive feedback and the benefits of this technology outweigh the challenges (Buhalis and Yen, 2020). The advancement of novel technologies involves a process of knowledge management, including maintenance, disruption and change. This needs the integration of technologies and institutions and results in the growth of new values and services (Vargo et al., 2015).
  • Service providers need to think critically about how AI applications in hospitality and tourism might affect people’s use of the service. They should also consider what needs to be changed to ensure that robots and employees work together seamlessly to augment the service experience (Buhalis et al., 2019). Smart technologies and AI could disrupt services in the hospitality industry, altering customer engagement plans and expectations (Helkkula et al., 2018).
  • Hospitality software has moved from local to server-based to Web-based to cloud-based platforms (Leung, 2020). The future smart infrastructure with high-speed networks enables efficient data exchange amongst databases in real time and therefore immediate service (Buhalis and Sinarta, 2019)
  • Technologies tested in previous studies have been improved by highly interactive systems, increased capability and a more user-friendly interface, so examining perceived interactivity of technology has become more important for advanced robot acceptance models (Go et al., 2020). Ivanov et al. (2019) stated that robotics was not introduced early to the travel, tourism and hospitality industries, because of the complexity of human reactions to customer needs.
  • Customers must experience feelings of enjoyment and satisfaction interacting with the robot. Customer attitudes are shaped by experience, and employee skills depend on education and training, as well as the company’s needs (Ivanov et al., 2019). Robots are expected to eventually overtake humans for cognitive tasks, with human input only required for duties requiring empathy and emotion
  • Intelligent agent technology is one of the most useful methods for supply chain management because it combines social ability, intelligence and collaboration (Alsetoohy and Ayoun, 2018). Alsetoohy et al. (2019) claimed that current procurement practices lack coordination and proactivity between suppliers and buyers, intelligent tools for finding suitable suppliers, performance evaluation and automation
  • By pairing robots and humans, service delivery can be optimized, leading to increased productivity and reduced costs
  • emilywest5 on 05 Feb 23
     
    This study was about adoption and automation of AI in hospitality. It gives great insight on the process as well as what people think of AI and their opinions. In addition to that, this study goes into different techniques that were used to understand how and why AI should be implemented. Human interaction cannot be beat, along with personal touch and humans can't remember everything a computer can, but if you have robots and humans working together you can get the best of both worlds. Smart technologies are now and the future.
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. :)
Lu Zhang

Study: Online marketing helps restaurants personalize offers | QSRweb.com - 0 views

www.qsrweb.com/...restaurants-personalize-offers

online marketing restaurants

shared by Lu Zhang on 29 Mar 13 - No Cached
  • Finding the right marketing mix is crucial to success in the restaurant industry
  • Lu Zhang on 29 Mar 13
     
    This article reveal many statistics of restaurant online marketing. The study analyzed the perception of customers, restaurants employees, and restaurants operators, and drive four main findings. The first one is online marketing is crucial in building loyalty and also attract new customers. The second one is that among all the customized marketing messages is a very effective strategy. The third core finding is most of restaurants operators realize the importance of online marketing, and willing to utilize it. Finally, the study found consumers are very sensitive to social media and internet advertising. Online marketing completed changed restaurants business.
jessica carvalho

Hospitality management studies - Wikipedia, the free encyclopedia - 0 views

en.wikipedia.org/...Hospitality_Management

shared by jessica carvalho on 12 Mar 12 - No Cached
  • Hospitality management is the academic study of the hospitality industry. A degree in Hospitality management is often conferred from either a university college dedicated to the studies of hospitality management or a business school with a department in hospitality management studies. Degrees in hospitality management may also be referred to as hotel management, hotel and tourism management, or hotel administration. Degrees conferred in this academic field include Bachelor of Arts, Bachelor of Business Administration, Bachelor of Science, Master of Science, Master of Business Administration, and Doctor of Philosophy. Hospitality management studies provides a focus on management of hospitality operations including hotels, restaurants, cruise ships, amusement parks, destination marketing organizations, convention centers, country clubs, and related industries.
Melissa Krajewski

Cornell Center for Hospitality Research Examines Daily Deals and Sustainability Issues - 0 views

www.hospitalitynet.org/...4054882.html

'e-Marketing' 'customer acquisition' retention' 'CSR'

shared by Melissa Krajewski on 05 Apr 12 - No Cached
  • A survey of nearly 200 international hotel operators found generally favorable results for those that had offered a daily deal, also known as a flash deal, according to a study posted by the Cornell Center for Hospitality Research.
  • Piccoli and Dev found that Groupon and LivingSocial were the two sites used most heavily by these respondents, and their top reasons for offering a deal were branding, customer acquisition, and boosting occupancy in shoulder periods. Ironically, the hotels that were avoiding daily deals were especially concerned about compromising brand standards.
  • David Jerome, senior vice president of corporate responsibility at InterContinental Hotels Group, three critical myths are (1) that "green" is expensive, when in fact sustainable practices save money; (2) guests do not care about sustainability, when in fact many guests and group planners specifically look for "green" practices; and (3) hospitality firms can wait to implement sustainability programs, when in fact waiting is costing them both money and business.
  • Melissa Krajewski on 05 Apr 12
     
    This article comments on the perceived effectiveness of daily "flash" deals distributed through the internet to provoke the usage of services of a hospitality enterprise. It also addresses current industry challenges hotels face with regards to sustainability and corporate social responsibility. The first Cornell study surveyed approximately two hundred international hotels. The results showed half of the hotels have used the e-Marketing "flash" deals technique while the other half abstain siting concerns of brand reputation. However the issue of dissatisfaction from those hotels who use daily deals is also prevalent. The conductors of the study recommend those who use the deals to "start small," clearly define the reason for the deal and examine every aspect of the deal, including limitations, to increase ROI and satisfaction. If the deals are tailored to fit both the hotel and guests' needs they should attract and retain customers. The roundtable discussion then dives into an important branding issue of CSR. It highlights common misconceptions related to sustainability such as going "green" being being costly, guests not appreciating sustainable efforts, and the "wait and see" approach being smart for implementation. With education and communication the hospitality industry can inform their internal and external customers of their sustainable business practices and increase customer acquisition. Rather than being reactive, businesses should be proactive and concentrate on their "long-term brand focus."
Joshua Frost

Study Reveals Hotel Guests Mobile Device Habits | News | Hospitality Magazine (HT) - 1 views

hospitalitytechnology.edgl.com/...sts-Mobile-Device-Habits-81883

study hotel mobile news habits

shared by Joshua Frost on 30 Aug 12 - No Cached
  • Today’s travelers are armed with three or four mobile devices to help them stay connected to office and home. They are more inclined to carry a tablet than a laptop. And, when these business travelers communicate with the home front from their hotel room, they are most likely do so with a video chat
  • They travel with 3-4 mobile devices.
  • For friends and family, nothing beats face time.
  • Joshua Frost on 30 Aug 12
     
    Very interesting article here regarding the habits of hotels guests who used mobile devices during travel. It opened my mind to how dependent on this technology we are. The project was completed by Four Points by Sheraton, a brand by Starwood Hotels and Resorts Worldwide, Inc. Over the duration of the experiment, 6,000 people were polled. What I found to be the most interesting fact in this study was that the majority of us use 3 - 4 mobile devices whenever we travel. If you think to when you were younger, you had your walkman and the hotel phone.
  • Jenna Rashbaum on 30 Aug 12
     
    When we travel we just grab all of our electronics and hit the road not even thinking about how many different items we are taking with us and why. This is exactly why at airports people get so aggravated waiting at security lines; people have to take each item out of their bag to go through the x-ray machine. Now if we would just leave 2 of the 4 items at home the time it takes to get through security would be cut in half!
smones

Why Women Are Leading The Growing Natural Wine Movement - 0 views

www.fastcompany.com/...-growing-natural-wine-movement

shared by smones on 15 May 18 - No Cached
  • “boys club.”
  • emerging market dedicated to organic ingredients and sustainable practices.
  • With such clean ingredients, the end product isn’t as stable as it’s more traditional counterparts, and therefore needs to be sold relatively soon after production.
  • ...15 more annotations...
  • A recent study conducted in conjunction with UCLA found that organic labels yielded higher taste ratings from wine critics.
  • A Mintel study found that 60% of millennials and 55% of Gen-Xers are concerned about harmful ingredients in their food and groceries.
  • While organic represents less than 5% of the U.S. wine industry, it grew at rates between 10% and 20% per year in volume from 2013-2016, according to Nielsen. In the last decade, the number of organic vineyards tripled worldwide.
  • Women outnumber men as the leading consumer of wine in both retail and restaurants, consuming 57% of bottles in the U.S, reports Nielsen. Of those, 51% of those aged 21-24 say organic factors in into their purchasing wine.
  • (Several studies suggest women eat more nutritiously than their male counterparts).
  • Natural wine is generally lighter and tends towards a funkier, less manipulated consistency.
  • The definitions involve both the environment (how the grapes are tended to, without artificial chemical fertilizers, pesticides, and herbicides) and the winemaking process (with limited or no added chemicals/sulfates).
  • millennials, who constitute 36% of wine drinkers, according to a report by Beverage Dynamics.
  • more subtle, restrained, and elegant than it’s predecessors. “Women’s wine tends to use less of the winemakers’ bag of tricks as far as oak is concerned and different methods to manipulate the flavors of wine,” says Den Haan.
  • “They’re geared to the female consumer,” adds Ed Field, owner of Natural Merchants, Inc., one of North America’s leading importers of organic wines, which counts Whole Foods as client. “There’s not necessarily heavy tannins–it’s more refined.”
  • Magdevski says that in the past, women probably veered away from winemaking in part because of the physicality required.
  • Women might also gravitate towards small, natural producers and local markets since larger operations have long been dominated by men.
  • In 2013, Ann Rabin Arnold founded the Organic Wine Exchange, an organic wine club that’s now available in 13 states with a clientele that is  80% female.
  • larger producers will co-opt it as a smart marketing move. “That’s my fear,” she says, adding, “and my hope.”
  • organic wine is “at the tip of the iceberg” as more and more consumers, especially millennials, actively look for not only healthier solutions, but more distinct dining options.
  • smones on 15 May 18
     
    Even though the wine industry was once considered more of a "boy's club", woman are now leading the way in the growing Natural Wine Movement as a market dedicated to organic ingredients and sustainable practices continues to emerge. This is largely due to the fact that women outnumber men as the lead consumer of wine in both retail and restaurant bottle purchases, as well as several studies that suggest that woman eat/drink more nutritiously than their male counterparts. This has led to organic and biodynamic wines growing at rates between 10 percent and 20 percent per year in volume from 2013 to 2016, and organic vineyards almost tripling word wide over the last decade. Being in charge of the Beverage Ordering and Menu Creation at my restaurant, I have seen first hand the increase demand for organic and biodynamic wines. It has become so prevalent that I have begun printing menus with asterisks to highlight which of our wines fall into either of these categories. According to a Mintel Study, 60 percent of millennials and 55 percent of Gen-Xers are concerned about harmful ingredients in their food and groceries. With millennials constituting for 36 percent of wine consumers, according to a report by Beverage Dynamics, it is a essential that both the restaurant and wine industries continue to cater and adept to our consumers wants and needs. It would only make sense that Women are the ones leading this growing trend, as they constitute the majority of the market for it as well.
marble_bird

Recognizing-events_4.0.pdf - 1 views

shared by marble_bird on 22 Jul 20 - No Cached
  • The purpose of this research is to explore and define the digital maturity of events using the Industry 4.0 model (I4.0) to create a definition for Events 4.0 (E4.0) and to place various relevant technologies on a scale of digital maturity.
  • These surveys and the thorough literature review that preceded them allowed us to map the digital technologies used in events to levels of a digital maturity model.
  • This study has responded to calls from the academic literature to provide a greater understanding of the digital maturity of events and how events engage with digital technology.
  • ...54 more annotations...
  • We found that engagement with technology at events and delegate knowledge satisfactorily coexists for and across a number of different experiential levels. However, relative to I4.0, event research and the events industry appear to be digitally immature.
  • Events are in the midst of rapid social and technological change. With a growing variety of technological means, the industry is fast-paced and increasingly delivered to a discerning consumer market while finding ways to connect with consumers through technology
  • Digital technology is the thread of the fabric of organisations (Li et al., 2018). It is an increasingly important part of how they engage with their customers.
  • Moreover, engagement with events as fans, spectators, delegates or organisers can be augmented with digital technology by improving access and sociability capabilities, refining the personalisation of events, and thereby creating enhanced experiences.
  • As we advance into what many in business and academia consider to be a fourth industrial revolution, the capacity to control and exchange data electronically has extended our ability to create, edit, maintain, transmit and retrieve information.
  • I4.0 can be described as the digitisation and automation of the manufacturing environment. It also creates digital value chains to enable the communication between products, their environment and business partners. Digital applications have impacted the tourism sector too giving rise to ‘Tourism 4.0’
  • The events industry is an ideal environment to benefit from the implementation of a widespread digitised approach with numerous organisations empowering managers and improving the overall event experience with the integration of extensive ICT practices and systems.
  • With the more widespread adoption of digitalization in event delivery and as the supply chains of all events become intertwined with technology, we can learn how the digital maturity of events in the 21st century is shaping event management and event control.
  • The team set out to answer the following research questions: RQ1. Can digital maturity in events be defined? If so, RQ2. How should the levels of digital maturity of events be classified with regard to the digital maturity of the events industry and the development of event management theory?
  • Successful events are no longer measured by simply achieving a respectable attendance, a great deal more engagement is manifest through digital technologies
  • Successful events require organisers to create something that is considered by those who attend as a valuable and memorable experience (Pizam, 2010; Tung, 2011). Creating memorable event experiences can be described as being dependent on a number of factors including creating regular attendee engagement, providing appropriate activities, relevant subject matter, topical and contemporary focus and targeted to a sizable receptive audience.
  • technological factors being one of the most important areas of demand for companies along with the implementation of I4.0. SMEs (Small to medium enterprises) are [lagging] behind in developing strategies to implement new solutions.
  • The development of digital maturity in events can be compared to smart tourism, which Gretzel et al. (2015) expressed as a logical progression from traditional activities. Smart tourism is characterised by an ability to transform large amounts of data into enhanced tourist experiences and increased destination competitiveness thanks to the interconnection of the different stakeholders through latest ICT advancements
  • As the components of I4.0 become more prevalent in the events industry, much value can be obtained from understanding how businesses are adopting new levels of digital engagement in order to engage their audiences
  • it is prudent to suggest that the survival, and future success of events can depend upon digital maturity and transformation
  • owever, dealing with digital maturity requires careful attention as Neuhofer (2016) urges caution advising that applied technology solutions have proven to have the ability to create or destruct the value of the experience.
  • I4.0 therefore acknowledges the impact of connected computers with the key constituents being cyber-physical systems, the Internet of Things, cloud computing and cognitive computing
  • highlighted that the use of communication networks globally has risen dramatically and become ubiquitous due to the rise of smartphone ownership. This has been fuelled by social media, apps and faster broadband speeds to create a networked society
  • By combining the Internet of Things data and big data (extremely large data sets that may be analysed computationally to reveal patterns, trends and associations, especially relating to human behaviour and interactions), event managers are able to create a competitive advantage.
  • As event companies develop new and innovative ways to connect, the events themselves are absorbing aspects of I4.0 at every stage of the process; pushing the boundaries of event experiences far beyond the physical world
  • They are used to promote events before, during and after delivery and are used to gather data and inform decision-making. Generating responses from an event can be achieved using a number of methods and through both qualitative and quantitative data.
  • With the advent of big data and analytics, new sources of valuable data are available to guide decision-making processes in a more informed manner. Businesses were once looking at historical data, but advances in database technology and system processes have led to near real-time data collection and analytics
  • Failure to adopt aspects of digital technology does not necessarily suggest a poor experience or the end for those businesses less digitally mature; not every event business relies on this kind of data support to survive. Instead, this research provides an opportunity to better understand where event businesses do engage and more importantly, how communication between non-digital and fully integrated individuals/businesses can be improved.
  • Digital maturity and transformation today differs from previous periods as it not only provides the change in the main business processes but also reveals the concepts of smart and connected products through service-driven business models
  • Our analysis begins with an attempt to uncover the potential challenges, on-going developments and various strategies that will provide the events industry and academics with a forward-facing approach to the growth of technology within events. By including industry professionals and academics, the research contributes to bridging the gap between practise and academia.
  • Because the research and empirical data collection includes industry perspectives, we believe this research will provide value to event managers, marketers and practitioners around the world who wish to understand more about the digital maturity of events.
  • After conducting the social media analysis (1), it became evident that the discussions appeared to be around topics that utilise digital technology rather than the technology itself. Furthermore, and probably a reflection on the value of the group, a lot of the data included questions about understanding the topics rather than providing usable information to our research.
  • We did not have detailed information about the precise characteristics of the individuals who contributed to the dataset of posts. However, to an extent, their roles listed in LinkedIn were informative. These included events consultants, social media managers, marketing professionals, EventTech managers, CEOs at tech companies and events students.
  • Although this response rate of 52 academics may be considered low, this did allow for the creation of the initial insights into the E4.0 concept and crucially it provides a starting point to better understand the levels of the developing digital maturity model.
  • The most referenced themes were social media, marketing, apps, GDPR and mobile. The top 14 themes are shown in Figure 1 below.
  • The results of the thematic analysis reveal the most pertinent events and technology topics in this group in the time period specified. The most common topics were social media and marketing. Marketing appeared alongside other topics as a verb, a noun and an adjective. This certainly influenced its prominence.
  • This statement reinforces the knowledge and general use of social media during events. Mobile and event apps were recognised as presenting opportunities to enhance events and were considered to be a permanent part of events.
  • Carefully managed and fully integrated data and digital systems including social media, apps and CRM create digital value chains to enable the communication between events, their environment, and business partners.
  • Event organisers invest heavily on social media engagement and expect a great deal in return through social media retweets, tagging and sharing of images. However, it is just as important to understand if delegates consider technology at events that important.
  • Our expert respondents were asked if they considered the events industry to be at the cutting edge of technology. Responses were largely supportive of the suggestion that it is. 64% agree, 22% neither agree nor disagree and 14% disagree.
  • Online registration/digital booking was very familiar with 65% ‘extremely familiar’ with the technology.
  • The survey also collected a selection of qualitative data as respondents were asked to if there were any specific examples of connected/digital technology considered to be essential to the delivery of an event that had not been discussed in the survey. Significantly, 23% answered no to this question.
  • With regard to the digital maturity of the events industry affecting the development of event management theory, the literature review indicates that academics are making contributions to theory and a broad understanding of digital technology exists.
  • industry appears not to be digitally mature. Also, our findings suggest that relative to I4.0 not all events are digitally mature. Therefore, the ‘digital immaturity’ of the events industry may be having some effect on event management theory
  • It became evident from the survey that many respondents suggested they were not familiar with technology that they would all have experienced.
  • The results from the survey suggest that widespread academic understanding of technology at events is extensive. Some digital technology is considered routine, while other comprehensively used technology appears to be unfamiliar to the end user.
  • The growing digital maturity levels form the foundation for E4.0 and will contribute to what Gerbert (2015) described as greater efficiencies and changing traditional relationships among suppliers, producers, and customers.
  • Therefore, satisfaction from the event comes down to providing delegates with the right communication levels they need to complete their individual objectives. This can range from the most basic social engagement to the gathering or observation of big data. Events are evidently a melting pot of experiences and goals and not all of them demand the highest levels of technology to complete.
  • Artificial intelligence has the ability to provide events with endless systems that sense, learn and decide throughout the delivery process though many gaps exist.
  • The data also indicates that there is good knowledge across all types of digital technology. This is reassuring for the development of education as the events industry embraces digitalisation
  • However, as more value is placed on the use of digital technology and events mature through greater access to technology, we see the emergence of an E4.0 era.
  • Thus, this model anticipates that events will grow in their digital maturity to level E3 and E4. Thus, digital technologies may become sufficiently embedded so that data related to one element of an event will be used to inform other elements of an event in real time
  • Online registration and wearable technologies such as delegate smart badges are superficial digital experiences and only considered as a process rather than as a fully perceived digital experience.
  • Our findings indicate that digital communications have enabled a shift in the content of events, marketing and the use of social media as a communication tool before, during and after the event.
  • On the limitations of our research, one might argue that engagement with technology, or indeed lack of it, does not provide evidence of the immaturity of digital technology in events. However, the digital maturity model that we propose is principally informed by the literature on digital technology and events.
  • This research has provided a revealing perspective on the use of digital technology in events. It has built on theory that has been previously developed in this and similar subjects of research, such as business and tourism. From this, the research can claim a number of contributions. It (i) provides an empirical investigation into how event businesses and individuals engage with digitally technology at events, and (ii) it provides a definition of E4.0 and other preceding levels that contribute to digital maturity.
  • Our research has shown that event delegates are aware of the ability to communicate in a reciprocal process with technology rather than through a linear/top down process. This in itself is evidence of E4.0. Furthermore, this research highlights how industry is continually striving to optimise the delegate/event relationship through apps and other technology. The industry’s on-going mission to create deeply flexible communication opportunities is eliminating the possibility of gaps in the communication process in order to optimise delegate engagement at events.
  • A broader discussion on potential issues such as IT & data security, skill-sets, expensive production costs and outages; these are significant problems within internet and cloud-based technology. Furthermore, the emerging topic of E4.0 itself requires both conceptual and empirical development.
  • This research has shown that there remains a great deal to discover about the use of technology at events and many opportunities exist for further research from academics and practitioners working together to provide mutual benefits for both industry and education.
  • marble_bird on 22 Jul 20
     
    This article covers a study performed to determine the digital maturity of events. The research conducted reveals that the majority of industry professionals are aware of technology in events. The study ultimately finds that events have a low digital maturity, but high potential for advancement. The article also addresses the limitations of the study performs and agrees that additional research should be performed to determine the relevance of technology in the events industry while acknowledging that digital engagement is not necessary or conducive to every type of event.
  • hankunli on 24 Jul 20
     
    This article has discovered the fact that the event industry was digitally immature. It also introduced a new concept which is called E4.0 into the academic literature. The article is meaningful since it has filled a gap in the literature relating to events and digital maturity and responded to some of the calls for research. The authors were also planning to make further research on E4.0, events, and digital maturity. They have mentioned that the studies on E4.0 itself were also requiring deeper research.
vgarc165

The disruptive mobile wallet in the hospitality industry: An extended mobile technology... - 0 views

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  • vgarc165 on 28 Jun 23
     
    The article discusses the results of a study done on digital wallets, or m-wallets as the study calls them. The study primarily looks into how and why consumers are transitioning to and using digital wallets. The study hypothesized that PCM or perceived collectivism would majorly influence whether or not a consumer switched over to a digital wallet, but that was not found to be true in the context of the study. The primary reasons why consumers are adopting digital wallets because it's convenient and easy. In regards to digital wallets and the hospitality industry, guests are and will be using digital wallets to pay for their meal/stay/service. Digital wallets make it easy for guests to split payments or pay each other back when sharing an experience.
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