US lifestyle brand, The Standard, has been a Duetto customer since 2014 and currently has 16 hotels utilizing our solutions globally. The company has been expanding rapidly and has two new hotels set to open this year in APAC - The Standard, Singapore, and The Standard, Melbourne.
Sameer Mehra is Standard International’s Vice-President of Revenue Management for Asia & Middle East. We caught up with him to find out what he thinks can be done to encourage the digitalization of the hospitality industry and what he believes are key hospitality industry trends to look out for this year.
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Encouraging the digitalization of the hospitality industry
Mehra believes there is plenty that can be done to further encourage the digitalization of the hospitality sector, beginning with investment incentives. He explains: “Financial incentives, such as tax breaks or grants for technology upgrades, can encourage hotels to invest in digitalization. Government or industry-led funding programs can specifically target the hotel sector.”
He also adds that providing education and training programs to teach hoteliers about the benefits and implementation of digital technologies is crucial. He points to workshops, webinars, and collaborations with technology providers as great examples of this.
Showcasing success stories can also be influential, Mehra comments. “Highlighting successful examples of digitalization in the hotel industry can inspire others to follow suit. Case studies, industry reports, and conferences can share best practices and benefits achieved,” he says.
“Hoteliers should also focus on customer demand. Emphasizing how digitalization can meet evolving customer expectations can motivate hotels to adopt new technologies. This includes personalization, mobile services, and seamless online experiences,” Mehra adds.
Changes in hotel technology spend
Mehra believes that the increase in hotel tech spending is likely to continue this year, driven by five key factors:
1. Enhanced Guest Experience: Hotels are increasingly investing in technology to enhance guest experience. This includes mobile check-in/out, room customization through apps, and AI-driven personalization. As guest expectations evolve, hotels need to keep pace with these technological advancements.
2. Sustainability Initiatives: As environmental concerns grow, hotels are expected to invest more in green technologies. This includes energy-efficient systems, waste reduction technologies, and sustainable resource management tools.
3. Cybersecurity and Data Protection: With the increasing use of digital solutions, hotels need to invest in robust cybersecurity measures to protect guest data and comply with regulations.
4. Flexible and Scalable Solutions: There’s a trend towards cloud-based solutions and software as a service (SaaS) models, which can require ongoing investment but offer scalability and flexibility.
5. Competitive Differentiation: To stand out in a competitive market, hotels might invest in unique technology offerings, like virtual reality tours, augmented reality experiences, or IoT-enabled rooms.
The biggest challenges for hotels in 2024
Top of the list for Mehra is adapting to technological changes. He says: “Staying current with the latest technologies, such as contactless services, artificial intelligence for personalized experiences, and efficient energy management systems, can be costly but necessary to remain competitive.”
Another challenge Mehra is predicting is the change in consumer expectations. He says that guests today are increasingly seeking unique, personalized experiences, and hotels need to offer more than just a place to stay. They need to focus on creating memorable experiences, which may require innovative service models and amenities.
- Discover what other industry experts believe are the revenue trends to look out for in 2024. Download our latest special report ‘Trends & Predictions to Advance Your Hotel Revenue Strategy in 2024’: https://www.duettocloud.com/special-reports/advance-your-revenue-strategy-in-2024.