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Thursday, October 17, 2019

Investment data reveals varied priorities among hotels

Research from Expedia has shown the varying investment priorities among hoteliers.

Upgrading and maintaining superior technology are a higher priority for chain hotels, with independent properties preferring to invest in room renovations and putting forth the most comfortable product available to guests, new research released recently indicates.

According to a study by Expedia Group of 1,215 hoteliers globally aimed at gaining an insight into investment priorities by hotels of different sizes. The methodology behind the research considered chain hotels as being properties operating under a managed brand of 100 rooms or more, while independent hoteliers were classified as self-operated properties of less than 100 rooms.

The study found chain hotels were nearly twice as likely to prioritise tech investment over renovations in an effort to gain competitive advantage. Independent hoteliers cited cost and value among the key barriers towards investing similar amounts on technology upgrades.

One in four independent hoteliers polled said complexity was a top challenge when it came to adopting new technology, with one in three requiring new tech to be user-friendly.

Expedia Group Director Market Management, Alex Moxey, said technology has the power to level the playing field for hoteliers of all sizes.

“We’re witnessing chain hotels place significant investments in technology, which opens the potential for a greater divide between properties that are not able to match those investments.”

The post Investment data reveals varied priorities among hotels appeared first on Hotel Management.

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