An ever-increasing number of consumers are comparing prices and booking hotel rooms on the Internet through various reservation channels and social media, as new technological tools continue to evolve. At the same time, hotel guests also expect more personalized service. These significant shifts present new challenges and new opportunities that impact the hotel industry dramatically. Traditional hotel software can no longer meet these new era challenges, and hotel executives realize that in order to keep up and thrive, they must adapt to new industry trends. While large hotel chains are able to develop their own software solutions, medium and small chains have fewer financial resources and are therefore left behind. Today’s hotel industry trends can be summarized as follows:
- Commoditization: Hotels today are often indistinguishable one from another. This turns them into a commodity, and, like any commodity, price becomes the primary consideration for travellers when choosing a hotel. Differentiated guest experience and flexible pricing are the solutions.
- Personalization: With this, today’s guests expect the hotel to meet their personal preferences. How can you personalize your services in a cost-effective way? By customizing services using Predictive Analytics.
- Standardization: When chains expand, standardization can minimize costs, while providing a differentiated guest experience the industry craves for. This can eliminate duplicate software and leverage data sources to capture more consistent guest information across various guests and operational touch points.