As budgeting season wraps up, here’s why many hoteliers are putting a greater emphasis on their tech budget.
As the year comes to a close, hoteliers are in the midst of developing their 2022 budgets and looking ahead at what’s to come. What trends are on the horizon and how can hoteliers prepare financially for 2022? After a tumultuous year of coping with the challenges of COVID and then labor shortages, it’s become clear that one area where hoteliers should consider increasing their investment is hospitality tech.
Where to Spend In 2022
For many hotels in 2020 and 2021, adopting contactless, mobile and smart-room tech solutions were essential in keeping their doors open. Amidst significant staffing issues and continuous health concerns, hoteliers adopted new technology to streamline operations on the staff side, and to offer a better, safer guest experience. Expanding the tech budget is also beneficial for properties at full capacity, because if the last year and half showed us anything, it’s how useful tech can be for improving operational workflows and elevating the experience guests have before, during, and after their stay.
Potential Savings For Hoteliers Investing in Tech Advancement
For hoteliers still mulling over how much to invest in new technology in the upcoming year, much of the concern isn’t just about immediate benefits, but where tech can save money in the long run. Utilizing a robust guest experience platform, hoteliers can find many opportunities for saving money. Here are a few ways hoteliers can see long-term saving right from the get-go:
- When menus and compendiums are transferred to a hotel app, spending costs on wasteful paper and printing costs can be eliminated entirely.
- Adding in-app dining reduces food waste. With easy-to-view metrics, management can make more cost-effective decisions when it comes to what ingredients or supplies to purchase. There are also more opportunities to offer guests meal upgrades, increasing revenue overall through targeted microtransactions.
- For hotel’s investing more in their operations side, implementing systems that boost efficiency and streamline workflows can help during labor shortages. That’s why so many in the hospitality industry are choosing management systems that prioritize clarity and effectiveness.
- And finally, maintenance costs. Ticketing systems where management can set priorities on work orders ensure the hotel is focusing time and money on what’s needed. Plus, with so many still recovering financially from the impacts of COVID, setting priorities allows for smaller work orders to be tabled until the revenue lost during the pandemic can be recouped.
From a tech perspective, revenue perspective, and overall industry perspective, it looks like great things are on the horizon. But in order to capitalize on a return to travel in the new normal, the right tech is a must.
To learn more about what tech can best assist your property in 2022, request a demo today.