Thursday 25 July 2024

Experts discuss global investment trends in hospitality tech sector

DUBAI, June 19, 2024

Ahead of Future Hospitality Summit – FHS World, the region’s flagship hospitality investment event taking place from September 30 to October 2, at Madinat Jumeirah in Dubai, organisers, The Bench, have published their latest industry white paper on ‘Navigating the Hospitality Tech Investment Landscape’.

The white paper aims to bridge the gap between tech solution providers and hospitality investors, providing insights from industry leaders working at the intersection of tech and hospitality.

The hospitality industry has continually been reputed to adapt slowly to technological advancements.

Hospitality asset owners and investors are keen on ramping up technology investment, however, they are challenged by the overwhelming abundance of information and options of tech vendors.

This abundance, coupled with the fear of costly mis-investments due to a lack of the right information hampers effective decision-making, stated the report.

Global investment trends in hospitality technology discussed in the report include an increased focus on automation and the guest experience, in which AI plays a crucial role.

According to PwC’s 2023 report, over 70% of hotel executives are prioritising investments in technologies that streamline operations and elevate the guest journey.

Key areas of investments include Property Management Systems (PMS), AI in Revenue Management as well as guest technologies such as in-room controls, online check-in, and mobile keys.

The white paper also touches on specific areas of untapped potential to drive innovation and enhance the hotel guest experience through tech investment.

These include the automation of manual processes to free up valuable time to deliver a more personalised guest experience, and the integration of payments technology for a more seamless guest experience and improved operational efficiency.

Technology and innovation will be a key theme of focus at FHS World this year. At the dedicated ‘Tech Zone’, businesses can showcase their tech offerings and connect with C-level hospitality investment decision-makers, hotel owners and operators, and investors. – TradeArabia News Service



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