All the contactless tech that is receiving so much buzz in the hotel industry today pre-dates the current crisis. So it might not be revolutionary tech, but the impact on guest experience and engagement will certainly outlast the pandemic.
With no way of knowing how long this crisis will last or what recovery will look like, we look back at two past crises to see how the industry reacted then, and what lessons can be learned. Many, as it turns out.
The online travel industry is marginally better positioned to deal with this current outbreak than many of their suppliers in the hotel and airline industry. But the damage is only getting worse. It will still be severe and long-lasting.
There is no doubt that these are some of the toughest times for the hotel industry. Hit hard by the COVID-19 pandemic, the industry is on its knees. Recovery will come, but when and in what shape is wholly uncertain. Understanding the current situation, and what a recovery might look like, will help the industry to prepare for when that day comes.
Legacy PMS vendors have for too long reaped the rewards without truly pushing the boundaries of what they could offer hoteliers. Now technology has passed them by, and they are playing catch-up. Cloud computing, open APIs, marketplaces, and middleware layers are shaking up this stale corner of hotel tech, and it’s crazy exciting.
Oyo promises a new type of hotel company. It’s an asset-light brand that seeks to connect the global long tail of mom-and-pop hotels through its tech and distribution platform. But can it live up to the hype? Skift Research dives deep into Oyo’s business strategy and financial performance.
The short-term rental sector is rapidly expanding, and it is not just Airbnb, Vrbo, and Booking.com that benefit from this. A growing ecosystem of property managers and B2B vendors are professionalizing the sector, while making a decent penny.
Revenue management is unquestionably becoming more important for hotels in an ever-more competitive market. Revenue Management Systems play an important role in automating pricing, but hotels should not see these as a one-stop solution to all their problems. There are bigger strategic questions that need answering.
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