Smart hospitality is a technology used in hotels to use internet-connected devices that are capable of communicating or interacting with each other. It is like internet of things (IoT), which means that even ordinary devices or appliances in the hotels can send or receive data, and can make smart decisions. Smart hospitality technologies provide benefits such as storage & virtualization solutions, guest voicemail & wake up, high-speed Wi-Fi, increased staff mobility, operator & guest reservation solutions, and improved guest safety with alarming & mobilization. It benefits hotel owners by improving their financial results and cutting down their operational costs as well as providing better customer experience to the guests.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis :
Increase in adoption of smart hospitality services and technologies by various companies in the hospitality domain is the major factor that drives growth of the market. In addition, surge in demand for real time optimized guest experience management fuels growth of the market. However, lack of technically skilled personnel or IT department in hotels hamper growth of the market. Furthermore, increase in use of internet of things (IoT) and other innovative technologies in the hospitality industry is expected to provide lucrative opportunities for the market growth.
The market trends for smart hospitality market are as follows:
Surge in demand for better personalized experience:
With the help of these technologies personalization can be offered to each guest such as TVs can be remotely set up to refer to guests by their own name, while a central control point can be used by guests to set conditions within the room. In addition, smart hotels help to save owner’s money as there is either less of front desk staff. Hence, hotel owners are adopting smart solutions, which boosts the smart hospitality market growth.
Developments in hotel industry in recent times:
Hospitality sectors are also investing in smart technologies to provide better experience to customers and to gain a competitive edge. For Instance, in 2019, InterContinental Hotels Group announced expansion of
its avid hotel brand. It would be a 95-room hotel, with rooms having intervention of latest technology for entertainment to provide guest a unique experience. This would offer number of new features to guests and provide them with excellent experience while staying in the hotel.
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