In a recently contributed article on Hospitality Net, I asked myself the question of why we see a slow pace of hotel groups upgrading to contemporary tech stacks. Innovative and open-architecture applications that the hospitality sector has long anticipated are now accessible, providing vast and flexible options ready to be deployed. From data analytics, digital transitions, and understanding revenue flows to business intelligence, everything is available at attractive SaaS pricing. Modern technology solutions available today have the potential to transform our industry into genuine tech and data-driven entities. Yet, the question remains: why haven t all made the shift instantly? What s holding us back?
Recently, there have been a lot of buzz and heated discussions about the impact and role of generative AI like ChatGPT in the hospitality industry and travel in general. From bold predictions that ChatGPT will revolutionize the industry and liberate the industry from the yoke of the OTAs to expert statements that it will lead to complete overhaul of the hotel tech stack and help solve labor shortages in hospitality.
The major determinant of your startup’s value is the market forces of the industry & sector in which it plays, which include the balance (or imbalance) between demand and supply of money, the recency and size of recent exits
Undeclared safety net for the poor thenorthlines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenorthlines.com Daily Mail and Mail on Sunday newspapers.