The global hotel market reached a retail value of over $600 billion in 2018, an approximately 5.3% growth rate from 2017 ($570 billion). Despite the long history of the hotel sector, players in the market continuously seek to cater to changing customer demands. The gradual acceptance of technology and innovation has made it one of the most exciting and unpredictable sectors.
Guests are now demanding more personalised options so that properties can meet their requirements. The wave of digitisation in the hotel sector has also intensified competition. Therefore, hotel owners are striving to leverage their resources and upgrade their systems at their disposal to retain loyal clients.
Here is a look at three exciting business models within the Hospitality space which are intended towards improving the guest experience.
- Smart Hotel Rooms: A smart hotel room is a room that makes use of ‘smart’ electronic devices, powered by the Internet of Things (IoT). Bringing the experience of living in a smart home into your hotel rooms.
Cirq+, Sensorflow, Operto
- Digital Concierge: Similar to daily life, many of the activities offered as services by the front-desk have the potential to be automated. Self-service kiosks, online registration, targeted feedback questionnaires, and options to pre-set the amenities within a room are now beginning to become more visible than ever before.
Criton, Suitepad, Akia
- Digital check-in: Business travel often requires guests to check-in at odd hours of the day. Providing a 24×7 guest check-in can be made possible with the use of technology removing any human dependence.
Ariane, Yoursmarthotel, Facil