The first of its kind, The Hospitality Show is a bold new event for the entire hospitality ecosystem with one shared goal: operating hotels efficiently and profitably. Brought to you by The American Hotel & Lodging Association and Hotel Management, the event will bring together top industry leaders, senior executives of hotel brands, owners, operators, management companies and procurement specialists—and their teams—to discover, network and drive profitability.
Business accelerates when the right people are in the room, and this new weekly series of advisory board interviews goes 1:1 with the industry’s best and brightest as they build the inaugural event to be held June 27-29, 2023 at The Venetian Resort Las Vegas.
In this installment, we catch up with Dayna Kully, co-founder of 5thGenWireless.
What issues are currently causing headaches for the industry?
Kully: In my opinion, the most challenging issues are shortage of labor and overall increased costs of doing business.
What will it take for those issues to smooth out and when do you anticipate that will happen?
Kully: I sure wish I had a crystal ball to predict when these challenges will turn around, but I don’t see a quick fix. Outside the box thinking, testing new ideas and watching where adjacent industries like senior living, airlines, restaurants, etc. are finding success will lead to viable solutions. Potential solutions must be tried in parallel, including leveraging technology to automate responsibilities, making data driven decisions and improving overall operational and staff efficiency. For example, streamline associate-to-associate and associate-to-guest communication, while continuing using contactless technology to reduce time-consuming assignments, to free up associates to perform those job responsibilities most impactful to the bottom line. In parallel, take advantage of AHLA Foundation’s apprenticeship and college outreach programs which have demonstrated positive results.
What new trends do you see affecting the hospitality industry the most in 2023?
Kully: The industry is being forced to find new, more efficient ways to deliver value to shareholders, guests and associates. It will be more challenging to continue a “business-as-usual” strategy and achieve positive results. During Covid, many brands and their industry partners developed strategic plans to invest in long overdue technology updates, such as moving CRS, PMS, etc. to the cloud and AI-powered, cloud-managed networking to gain efficiencies and create a solid foundation to build on going forward. While this requires budget and resources in the short term, it bodes well for long term cost efficiencies and the ability to deliver on creative guest experiences and differentiated engagement. The results of these investments may not be seen in 2023, but the trend to invest in the future is a positive path for hospitality.
What do you see as the biggest opportunities for the industry as we make our way through 2023?
Kully: The hospitality industry has a reputation for being behind the curve in strategic technology investment. This is the opportune time for all industry stakeholders to take a step back and look at where you want to be long term. There’s a lot of buzz around emerging technologies, such as AI, VR, 5G Edge Computing, and Wi-Fi 6E/7, which are being tested both in and out of hospitality. We have an opportunity to watch how these are playing out in other industries, learn from others and invest intelligently in PoCs. Plan your investments wisely and skate to where the puck is going!
What do you think the industry’s biggest win this year will be?
Kully: Being open to and implementing operational and technological strategies that move the needle forward vs. a common trap we tend to fall into—chasing the shiny object to keep up with competitors (with no proven business case). Hopefully, the biggest win will be data driven decisions which have a lasting positive impact on the business and provide flexibility to try new ideas, fail fast when necessary and move on. Maybe 2023 is the starting point and I hope it’s the beginning of a productive long-term trend.
What are you most looking forward to at The Hospitality Show?
Kully: So many things! At a high level, THS is filling a much-needed void, namely a focus on optimizing hospitality operations and exploring the underlying technology and process to drive positive business outcomes. The fresh perspectives and learnings that will be brought from Airlines, F&B, Casinos, etc. are invaluable. The creative and interactive show floor is intriguing and gives attendees more opportunities to engage in new ways in the activations and Solution Stages. This whole format is “outside the box” and I’m eager to see how it plays out, meet new people and learn from other industries.