Digital transformation in hospitality: Current status
A new report by PwC and NYU examines the state of play in hospitality technology innovation today
Based on interviews and focus groups with executives representing major hotel brands, operators and owners - as well as a diverse array of technology vendors - the report "Hotel industry digital transformation: The current state of play" uncovers a road map for a human-powered, tech-enabled future in hospitality.
Key takeaways
- Automation across the hotel ecosystem is driving efficiency by minimizing routine data collection and entry. This helps free up back-office employees to focus on real-time data analysis and reporting, insights generation and decision-making;
- Brands are looking at opportunities to modernize their legacy systems and leverage the power of cloud and software as a service. A common set of standards driving decisions, integration approaches and interoperability capabilities can help the entire industry transform back-office operations and streamline integrations;
- To unleash the power of data analytics, brands and owners need quality data, talent and a data-driven culture - powered by a cloud-based technology ecosystem - that goes beyond reporting. Rather, it emphasizes insight generation;
- As AI democratizes revenue management across all segments of hotels, technology vendors are diversifying AI-enabled pricing tools beyond hotel rooms. For instance, one hotel brand is investing in tools to make decisions on hotel room allocation, conference rooms and restaurant pricing.
Download the report at PwC