The epidemic forced the hotel sector to embrace digital change, which isn’t always a negative thing.
There is no better moment than now to embrace technological advancements. Until a few years ago, only the largest hotel chains used technology in their operations. COVID-19, on the other hand, eliminated any discrimination based on the size of the company.
In terms of digitalization, the previous decade has seen massive changes in company processes. While many people were justifiably angry about how the epidemic impacted their businesses, it also presented them with an opportunity. Many hotels have now found the motivation to invest in the technological solutions they’ve always wanted to, allowing technology solution providers to thrive.
According to Suresh Nanda, many firms that offer cutting-edge technology to the hospitality sector are likely to be industry leaders. Most of these new businesses are now using AI-powered solutions to deliver services like hotel booking engines, travel agency solutions, central reservation systems, and revenue management systems, among other things. These solutions are proven to be beneficial in the middle of the epidemic and an economic downturn.
ADVANTAGES OF A TECHNICAL APPROACH
The coronavirus decimated the hospitality industry, which had been one of the most prosperous before the epidemic. According to recent data, revenue per available room (RevPAR) fell about 39% in the first quarter of 2021 compared to the same period the previous year. In addition, the sector suffered a loss of about INR 30 lakh crore in the previous fiscal year.
For the next few months, the travel outlook is likely to be dismal. The tourist and travel business is on the verge of collapse in several locations. The fraternity has requested quick government action, requesting tax relief, and other advantages.
Surprisingly, some businesses have benefited from persistent difficulties. When one examines their operations, it is clear that they have nearly changed their company strategy and shifted to a technology-driven business model that is yielding positive outcomes.
The CEO of Suresh Nanda Claridges says since the pandemic’s onset and the installation of successive lockdowns in India, tech-assisted marketing in the hospitality industry has seen unparalleled study and development. To improve digital marketing, marketers have begun using augmented and virtual reality technology.
Meanwhile, utilizing such technologies, some hotels and resorts have created entirely new hospitality experiences. Since last year, the business strategy has taken a tremendous jump. Several adjustments were unavoidable during the past year. Rather than fighting it, it’s time to accept it while keeping the long-term picture in mind.