Study shows that chain hotels are more likely to prioritize investments in new technology.
In a study of 1,200 hoteliers, Expedia Group found that large, chain hotels are twice as likely than independent hotels to prioritize technology investment. Inversely, smaller, independent hotels are 1.5 times more likely than chain hotels to prioritize room renovations.
So, why do these findings matter? The results of this study indicate a significant gap in technology investment strategies between different hotel segments. In the hospitality industry, technological innovation is becoming increasingly important as more and more hoteliers recognize that the right technology can give them an edge over their competitors.
With this in mind, why are smaller hotels less likely to make technology a priority? Well, the main barrier is cost. Nearly half of the small, independent hotels surveyed indicated that their technology investment decisions were based on affordability and value. This is a markedly different outlook than chain hotels, with over half of larger hoteliers responding that they prioritized technology that integrated with their existing systems and fit their brand image.
With these major differences in technology investment, experts expect to see the gap between chain and independent hotels continue to widen. As the importance of technology is not expected to wane anytime soon, smaller hotels are highly encouraged to start prioritizing technology investments over all others.
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