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Are you curious about what's going on with hotel technology now?
I am. Technology is key for empowering your teams and delighting your guests - but it changes so quickly. To give us the inside scoop of what’s (really) going on in this area I’m delighted to have Jordan Hollander, co-founder of Hotel Tech Report, join us today.
Hotel Tech Trends Today
Today, Jordan Hollander, co-founder of Hotel Tech Report, joins us to share why technology matters today (more than ever), how the way hoteliers are buying tech is changing, how to implement technology successfully - and much more.
You can listen to us here on the podcast, and I’ve summarized a few of my top takeaways below.
Why tech matters to hoteliers today
"Interest rates are super high, which means your costs are going up. Your labor costs are going up; inflation is impacting your cost of goods, FF&E, and other areas. You’re probably thinking, ‘What do I do to improve my NOI?’ There's not that much you can do outside of trying to rearrange your processes or your people. And the only way you could do that is by having technology that allows you to bring in new people more efficiently or to reorient those people."
Takeaway: Technology is crucial to fighting rising costs and improving NOI.
Put this in action:
Invest in automation tools for key touchpoints such as check-in, check-out, and guest services to reduce labor costs and improve efficiency.
Utilize data analytics to monitor and manage expenses related to energy, maintenance, and other operational areas.
Implement training programs for your teams to effectively use technology, maximizing the benefits.
Explore technology solutions that enhance guest experience and satisfaction, driving higher revenue and repeat business.
How the buying process is changing
Coming off the HITEC tradeshow, Jordan has a hot take:
What’s behind this?
"Hotel [software] buyers are becoming more sophisticated. They're doing more diligence. We're also seeing a big decentralization. Why would someone who's a centralized tech person make a marketing or revenue management or sales decision? Those [technology] decisions are getting decentralized, and the buyers are becoming more sophisticated because information is just easier to access."
Takeaway: The buying process for hotel technology is evolving. Functional leaders are choosing the best technology solutions for their specific needs instead of centralized decision-making like in the past.
Put this in action:
Encourage team involvement in the tech-buying process by empowering department heads to research and recommend solutions.
Leverage online platforms like Hotel Tech Report to gather unbiased reviews and detailed information about potential technology partners.
Keep learning - listen to podcasts like our technology series to stay updated on the latest trends and innovations.
Pilot new technologies in smaller settings before full-scale implementation to ensure they meet your needs and integrate well with existing systems.
Tips for successful tech implementation
Jordan talked about how Strawberry implements technology as an example of doing this well:
"If it works on an 800-room property for housekeeping and operations management, then it's going to work for the rest of [the] portfolio. They do a pilot. They set up goals and KPIs ahead of the pilot. At the end of that pilot, they know whether it's something that they want to explore and whether they want to try different solutions on top of that."
Takeaway: Successful implementation of new technology involves piloting the solution, setting clear goals and KPIs, and evaluating its performance before a full rollout.
Put this in action:
Run pilot programs for new technology implementations in a few hotels (or departments) to test effectiveness and identify any issues.
Define clear KPIs and objectives for the pilot program to measure success and gather actionable insights.
Gather feedback from staff involved in the pilot to understand their experiences and potential improvements.
Create a detailed rollout plan based on the pilot's outcomes, including training, support, and a phased implementation schedule to ensure a smooth transition across the hotel.
…
These are just a few of the things we covered in our conversation. I think you’ll also enjoy hearing Jordan’s perspective on which categories of hotel tech hold the most potential today and a few companies that stand out to him.
More for you
If you’d like, you can hear more about technology from other past guests, including these conversations:
Visiting Media is one of the companies Jordan called out as one to watch, so check out my conversation with CEO Ben Powers:
And that’s a wrap! This email was handmade for you—it took me 53 minutes to write this. If you found it helpful, I’d be very grateful if you could forward it to a friend or colleague who might also enjoy it.
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A few final things:
If you have any thoughts, ideas, questions, or suggestions for Hospitality Daily, please reply to this email. I’d love to hear from you.
If you’d like a private community where you can discuss things like this and ask other hotel operators and investors questions that you can’t just Google or ask ChatGPT, the Hospitality Daily Huddle might be a good fit.
If you have a product or service that would benefit the hospitality professionals who read, listen to, and watch Hospitality Daily, let’s work together to help you help more people.
Thank you for reading.
-Josiah
