April 16th, 2013 | Esther Hertzfeld

Hotel operators to increase tech expenditures over the next year

16 Apr, 2013 By: Esther Hertzfeld

Sixty-two percent of luxury hotel operators expect to increase their expenditures on technology over the next year, according to a new report from Timetric. The "Global Hotel Industry Survey 2013: Technology Initiatives and Investment Decisions" report states that 35 percent of those hotel operators expect an increase of 3 to 10 percent.

Thirty-eight percent of respondents from other hotels anticipate an increase in technology expenditure over the next 12 months. Additionally, the survey reveals that Wi-Fi technology, online reservations, and high-speed internet access are the leading technological facilities being provided to customers by luxury hotels. Correspondingly, flat-screen televisions, Wi-Fi technology, and online reservation are the key technological facilities customers expect to see in luxury hotels.

Regardless of buyer and supplier categorization, global hotel industry respondents foresee an increase in RevPAR and occupancy rates, which reflects an increase in business opportunities over the next 12 months. The Timetric study reveals that 70 percent and 71 percent of respective buyer respondents are more optimistic about an increase in RevPAR and occupancy rates, as compared with 46 percent and 45 percent of respective supplier respondents. In addition, 43 percent and 42 percent of respective respondents from the Rest of the World and Asia-Pacific expect an increase of 3 to 10 percent in RevPAR. Moreover, 27 percent and 24 percent of respective respondents from Europe and North America forecast an increase of 3 to 5 percent in hotel occupancy rates.

For respondents from both buyer and supplier companies, cost savings and operational efficiency, service innovation, and increasing tourism are the key drivers of growth in the hotel industry. Additionally, an increase in disposable income is the key driver for buyer respondents, whereas supplier respondents consider the development of IT infrastructure the most important driver.

Respondents consider environmentally-friendly initiatives the foremost emerging trend in the global hotel industry, and growing interest in sustainable travel among tourists is considered a key driver for hotels to acquire green certifications. Consequently, hotels are increasing their commitment to reducing their environmental impact, promoting sustainable business practices and offering green products and services. 

Topic : luxury hotel, technology expenditures, Wi-Fi technology, online reservations, high-speed internet access, flat-screen tvs
External Source : Market Research

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