FREEDOMPAY INC
Then came the pandemic which led to the U . S . hotel industry experiencing its worst year on record . With occupancy rates at just 44 %, unsold room nights surpassed 1 billion for the first time in history , triggering a total re-evaluation of their attitudes to the use of data . Our survey findings * revealed :
• Hotels now recognize the importance of fasttracking data-driven innovation .
• They are reevaluating new ways to use data to build more targeted experiences and support acquisition downstream .
• Demand for better ways to capture and use data in real-time has intensified .
• Hotels now appreciate that commerce investment is crucial to surviving disruption and keeping touch-points future-ready
Consequently , new value-points for techinvestment include a faster return with lower drain on resources , richer value metrics and accelerated ‘ business ’ needs . New tools are also helping track demand , while new challengers are shaking up the supplier-mix
As a result , vendors ’ roles underwent rapid transformation with a shift from being suppliers to a new role of ‘ Strategic Partners ’; from challenger to ‘ Catalyst for Change ’ and from certified provider to ‘ Guardian of Reputation ’.
Return in demand
Hoteliers are clearly looking forward to returning demand . There is optimism that consumers and businesses denied freedom to travel , meet and socialize , will flock to hotels again , as soon as the opportunity arises . This will generate high levels of room demand and increased spending , but competition for dollars will be fierce . The futurewinners will be those whose data and commerce platforms are fit , healthy and re-calibrated for maximum customer engagement .
Three positive takeaways for America ’ s hotel leaders :
1 . The desire to keep customers safe has driven the use of contactless technologies including mobile wallet acceptance and QR codes for info , check-in , ordering , pricing and payment .
2 . Hotels have had to adapt fast – innovating services , business models , and supply chains , integrating digital and opening the door to self-service options and automated check-ins , ticketing and collections .
3 . Leaders have broadened their thinking around value , moving measurement beyond ‘ what competitors are doing ’ and sales / revenue return , to business and customer needs and making operations more efficient .
However , hotel and lodging businesses can ’ t do it all on their own . Technology vendors will also have to play their part in reenergizing growth . They must support more flexible relationships within a broader ecosystem to drive ROI , especially as attitudes to ‘ risk ’ change , and hotels seek specialized tech-support from new disruptors and challengers .
They must also work even harder to secure business ‘ buy-in ’ and investment by providing more tangible ‘ customer-experience ’ improvements , more compelling business use cases , and deeper richer consultative services including compliance .
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