Controlling Telecommunication Costs | CBRE Hotels - 0 views
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Although telecom accounts for a small percentage of expenses, data during 2015 through 2019 revealed a significant upward trend in telecom related expenditures. At the same time, the data also revealed a steep decline in revenue generation from charges for phone calls and internet access.
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To manage costs more efficiently, organizations within the industry are undergoing IT audits and consolidating telecom vendors across portfolios. At the same time, competitive organizations are recognizing the need to upgrade certain technologies.
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The emphasis of connectivity within the hotel industry is unquestionably going to grow in the coming years, ultimately placing headwinds on balance sheets. Owners and operators across all segments of the industry are tasked with better managing and creating efficiencies with their property portfolios. Additionally, as portfolios become larger through acquisition across the globe, being able to limit disruption and deploy the best technology becomes even more important.