Deciphering ROI from tech investment can be complicated | Hotel Management - 0 views
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behind the curve when it comes to the latest technology, but hoteliers are also faced with trying to decipher what tech investments will provide the greatest return.
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behind the curve when it comes to the latest technology, but hoteliers are also faced with trying to decipher what tech investments will provide the greatest return.
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sometimes we waste a lot of money doing so
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ack-of-house systems such as financial reporting are key to operational success
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Sometimes we have to play along with those, and those can tend to be more of a fad, but some are critical for differentiating from neighbors.
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Some brand companies see the value of investing in guest-facing technology.
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But with investment in mobile infrastructure, it’s more about trying to stay ahead so we can continue to innovate and deliver new solutions easily.
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ROI on some of these solutions might not be immediate, but by starting to develop solutions for these technologies we begin learning how to integrate them into our systems and processes.”
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ind the right solutions and technology in which to invest time and money.
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Take the time and look at the process and what and why you’re doing it
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some tech, such as supporting core processes, is required for operations, but isn't necessarily ROI-based.
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HVMG invested in technology that pulls all of its operational reporting systems together so that management and ownership can see hotel performance in one place.
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The article titled "Deciphering ROI from tech investment can be complicated", explores how technology can be challenging within the hotel industry. It is important to note that hotels need to understand what components they need to include, and which are simply a waste of money. According to the author, "Some technology trends are elements that hotels need to survive, while some technology is simply a fad". It is important to keep an eye on consumer trends to filter out what will actually enhance guest experience. Nowadays, guests and staff need mobile needs to optimize their work processes. For some processes and technologies, the ROI may be almost immediate, but for others, they still require more time to see the investment. In terms of investing in technology, do you think room automation is always necessary? In my personal opinion, the more perks a room has, the more it may enhance the customer experience. Ultimately, it all depends on the hotel, its size and its investment opportunities.
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This article discussed how to pick the best technology for your company thus maximizing your ROI. Some technologies are necessary while others are just a fad and it is important to determine what your company needs. Guests are also demanding more tech advancements from hotels, the personal touch is not as important anymore. Mobile and digital payment tech is becoming more and more important. Lastly it is important to note that technology will not always fix a problem, it is up to the company to determine what the issue is and then learn how to implement technology that will assist, not just expect it to resolve on its own.
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Very interesting article that makes us question whether specific technological add-ons are must haves versus nice to haves to separate us from our neighbours. It also shows us that we cant often times quantify from an ROI perspective. It begs the question, does technology really set a hotel apart and how.