The hotel industry is among the industries most affected by the Covid-19 pandemic worldwide, with the travel and tourism industries taking the biggest hit by far. Occupancy rates are down by 50% or more resulting in average revenue decreases of 62% and reduction in staff by around 70% during this period.
Emerging New Technology
During this crisis, most hotels experienced unprecedented booking cancellations with major repercussions. However, even with this dim news, there is hope of restoration and recovery. As the impact of this crisis eases in the days to come, the hotel industry will no doubt regain confidence, momentum and revenue. How? By overcoming the odds with technologies that can revive the hotel industry to a new norm.
This would mean automating operations and providing a different hotel experience coming out of isolation and with social distancing as the new norm. By leveraging on technology like Digitisation (in Software/Mobile Apps), Cloud Technology, Artificial Intelligence (AI), Machine Learning, Robotics and Autonomous Vehicles, hotels can endeavour to utilize Digital Management Services to provide customers with more personalized experiences.
Reshaping the Hotel Industry through Cloud Technology
Reshaping the hotel industry by leveraging the right technology should be the new norm moving forward. Technology plays a vital role in elevating the growth of the hotel industry. For the most part, it is widely recognized that technology is the way to improve hotel experiences and guest satisfaction.
Hence, there is no denying that leveraging the right technology from a business perspective can save operating costs by a great amount, and with minimum hotel employees working in the hotel.
How? This can be done by the introduction of automated processes such as using real time front desk operations such as guests check ins and check outs, digital keys issuances, and using the latest mobile F&B ordering and concierges services technology among others, to reduce staff involvement by far. In turn, this would surely reduce costs and increase profitability to the hotel businesses.
Digitalisation has enabled the emergence of new players in the industry and indeed, an App like HotelX has positioned itself as one of the main players in the field; a complete mobile web application for hotel management based on the latest Cloud technology.
Thanks to software and applications like these, one can easily access all the functionalities of the hotel management software and much more, without breaking the bank.
Leveraging Artificial Intelligence (AI) and Machine Learning
The increased reliance on smartphones have changed consumer behaviour drastically, particularly in terms of hotel discovery, searches, bookings and reservations. AI algorithms can determine and derive the best results based on the users or guest details, their location and navigation history. With this new technology, the hotels are able to automate customer service processes and cater to the specific needs of various guests effortlessly.
From travel agencies to hotels, the Machine Learning technology is leading the way to a profound reorganisation of the industry by introducing more enhancements into the value chain between customer and hotel. With data collected from previous bookings, the algorithm will recommend hotels to customers according to their preferences via online booking sites – thereby linking suitable hotels with their most ideal target segments.
Improving Hotel Businesses with Social Media
Many hotels use personalised marketing to optimise interactions with their customers. This could be through Social Media via Facebook, Twitter or Instagram to maintain and improve relationships between the hotel and their guests as well as to promote any special offers.
With Machine Learning and Big Data, hotels can personalize their communications or recommendations for specific products via social media to optimize revenue beyond using traditional advertising.
On the Road to Recovery
As it is uncertain when the pandemic will be behind us, it is essential that the hotel industry continue to push through and overcome this temporary setback. There is no doubt leveraging the right technology is crucial to support many hotel establishments during this period of recovery. However, this support should not be short lived; it should continue to have a long-term impact – socially and operationally.