Discover the hottest insights from hospitality and technology leaders who hosted sessions at HITEC Toronto on AI, data science, and technology upgrades
During last week’s HITEC Toronto 2023 convention, hoteliers, managers, operators and hospitality leaders descended upon Canada for three days of exhibits, mixers, and education sessions that highlighted the hottest topics in hospitality technology. As travel continues to ramp up to pre-pandemic levels, hoteliers must use AI advancements and data science to their advantage to streamline workflow and drive additional revenue. Additionally, panelists discussed the important factors to consider when transitioning from a legacy system to the latest platform. The following are takeaways from the top three sessions we attended at HITEC Toronto 2023.
AI is The Hot Topic
With Open AI’s ChatGPT coming up on its one-year anniversary this fall, AI is still fresh on the minds of nearly everyone — including hoteliers, hotel managers, and operators. During the session, “The Rise of AI-Powered Language Generation: How ChatGPT and Its Competitors are Changing Hospitality,” AI hospitality expert Michael Levie and Intelligent Adaptive Interventions Lab’s Joseph Jay Williams discussed how programs like ChatGPT can transform guest service, a hotel’s marketing efforts and other aspects of the hospitality business. They also discussed how ethical and censorship implications could come into play down the road and advocated for hoteliers to develop critical thinking skills around these potential ethical implications. These implications included issues relating to censorship, bias, and the potential displacement of human labor.
Using Data Can Help Increase Profit
During a session, titled “Things You Didn’t Know About RevPar: Leveraging Data Science to Boost Profit,” HFTP’s Ira Vouk, Cornell School of Hotel Administration’s Klaus Kohlmayr, Sonder’s Shruti Challa and HotStats’ Tanya Venegas encouraged hoteliers to embrace the power of data science when running their hotel business. They shared the potential dangers of relying solely on KPIs like RevPAR, or revenue generated per available room, as a profitability indicator. Instead, they encouraged the session’s listeners to use business intelligence tools, such as a guest experience management system that can digitally track when guests are most likely to interact with a hotel’s promotion, what upgrades guests gravitate towards, and more. Understanding guest behavior and offering targeted marketing, pricing, and customization options is key to driving organization-wide decision-making.
The Time For Upgrades Is Now
With so many digital offerings on the market today, the time to upgrade your technology offerings is now. During “Bridging the Gap Between Legacy and Cutting-Edge Technology,” speakers Gina Johnston, Leonel Domingues, and Matt Schwartz shared advice on how to navigate the decision-making process when it comes to deploying a new digital platform at your property. They advised that, before signing on to a new tech platform, hoteliers must fully understand the costs associated with staying up-to-date with the system, the ROI of the software, the total cost of ownership (TOC), and determine whether or not the technology has staying power.
Overall, the main HITEC Toronto message was clear — now is the time to embrace hospitality technology and harness it for the betterment of your property. To learn more about how INTELITY can help your property streamline workflow, optimize the guest experience, and drive profit through guest behavior, request a demo today.
