Tag Archives: white paper

The latest white paper released by Future Hospitality Summit focuses on the fact that hospitality asset owners and investors are keen on ramping up technology investment, however, they are challenged by the overwhelming abundance of information and options of tech vendors. This abundance, coupled with the fear of costly mis-investments due to a lack of the right information hampers effective decision-making. Ahead of Future Hospitality Summit, organisers The Bench have published their latest industry white paper on Navigating the Hospitality Tech Investment Landscape. Global investment trends in hospitality technology discussed in the report include an increased focus on automation and the guest experience, in which AI plays a crucial role. According to PwC’s 2023 report, over 70% of hotel executives are prioritising investments in technologies that streamline operations and elevate the guest journey. Key areas of investments include Property Management Systems (PMS), AI in Revenue Management as well as guest technologies such as in-room controls, online check-in, and mobile keys. The white paper also touches on specific areas of untapped potential to drive innovation and enhance the hotel guest experience through tech investment. These include the automation of manual processes to free up valuable time to deliver a more personalised guest experience, and the integration of payments technology for a more seamless guest experience and improved operational efficiency. Technology and innovation will be a key theme of focus at FHS World this year. At the dedicated ‘Tech Zone’, businesses can showcase their tech offerings and connect with C-level hospitality investment decision-makers, hotel owners and operators, and investors.

ILTM has commissioned a white paper to underpin the true value of luxury travel to small, medium sized and large businesses across the world. The report by Barton Consulting brings clarity to the numbers of people employed – 90 per cent of whom are working within small businesses or individual operations – and the contribution high net worth (HNW) travellers make to every sector. The report is further explained in a podcast entitled ‘Luxury Travel’s true impact on business and employment.’ Alison Gilmore, Portfolio Director, ILTM, says, “The challenge of COVID-19 has brought the realities of our world into sharp focus and none more so than our international inter-connectivity and dependence on the freedom to travel. The travel industry is one of the greatest catalysts for this globally-linked system and is also a far greater mechanism for the dispersal of wealth to local economies than has been recognised until now.” In the podcast, the report’s author, Barton’s Winston Chesterfield, explains how so few can make such a big economic impact by spreading their wealth to benefit local economies, communities, individuals and businesses. He explores how these individuals will be the first to kick start the industry post COVID-19 and why the wealth they control is vital to #keeptheworldmoving. “We wanted to contribute to the luxury travel sector and provide some new insight, facts and figures that we hope will give comfort to those whose livelihood has suffered as a result of the COVID-19 shutdown of this industry. When the time is right, we believe a new future will emerge and ILTM will be here as a catalyst, however long this journey takes,” added Gilmore.