The global tech savvy hotel chains market is likely to be appraised at US$ 53.5 billion in 2022, likely to reach US$ 220 billion by 2032 with a CAGR of 15% during the forecast period (2022 to 2032).
Hotel chains around the world are fast adopting the technological advancements that are crawling into the fast changing global hospitality scenario. Over the last few decades, several renowned brands of the hotel industry have successfully inducted technology into their daily operational flowchart. The long-term bonhomie has impacted the overall growth of the industry. Over the years the service levels in several plush hotels have surged due to the able use of technology.
The new breed of smart hoteliers is promoting digitisation to slash the recurring costs and also to table some of the state-of-the-art services to their elite customers through the best possible use of technology. Not only big properties, smaller players of the hospitality segment are also infusing effective technologies to enhance industry standards.
Tech-savvy hotel chains are slowly but steadily mushrooming around the world. The tech-savvy hotel chains are reaping the benefits of the technology and digital boom. Mass digitisation has created a huge platform for tech-savvy hotels. Proper use of technology has not only changed the brand image in the market, but it has also enhanced the global customer outreach. Social media is a powerful podium to share opinion and views and it also helps gauge the market behaviour to a large extent.
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Key Trends in the Tech-Savvy Hotel Chains Market
In an era marked by digital transformation, the hospitality industry is undergoing a paradigm shift, with tech-savvy hotel chains leading the charge. As travelers increasingly seek seamless, personalized experiences, hoteliers are leveraging cutting-edge technologies to elevate guest satisfaction and operational efficiency. Here are the key trends shaping the landscape of the tech-savvy hotel chains market:
- Contactless Check-In/Check-Out: The COVID-19 pandemic has accelerated the adoption of contactless solutions. Tech-savvy hotel chains are investing in mobile apps and self-service kiosks, enabling guests to check in/out seamlessly, reducing physical interactions, and enhancing overall safety.
- Smart Room Technology: The integration of Internet of Things (IoT) devices is transforming hotel rooms into smart spaces. Guests can control room temperature, lighting, and entertainment systems through mobile apps or voice commands. Smart room technology enhances convenience and provides a personalized stay experience.
- Artificial Intelligence (AI) for Personalization: AI-powered chatbots and virtual assistants are being employed to deliver hyper-personalized guest experiences. These systems analyze guest preferences and behaviors to offer tailored recommendations, from room settings to local attractions and dining options.
- Enhanced Connectivity with 5G: The rollout of 5G networks is revolutionizing connectivity within hotels. High-speed, low-latency networks enable faster Wi-Fi, seamless video conferencing, and support for emerging technologies like augmented reality (AR) and virtual reality (VR), enhancing guest connectivity and entertainment options.
Tech Savvy Hotel Chains: Game Changers
The proper incorporation of technology will have multiple effects on the demography of the fast changing hospitality industry according to market experts. In the last few years, the entire climate of the hotel industry has changed. The technological revolution has impacted the revenue outcome, successfully created a safer ambience for the boarders and also pulled up the service levels.
The technological advancement is the need of the hour. After a long haul, the hotel and hospitality industry has limped back to normalcy with the help of advanced technology. The massive IT boom around the world impactedthe upsurge of multiple tech savvy hotel chains across the world.
To survive in the competitive hospitality market, the incorporation of technology is a necessity. Tech-savvy hotel chains are earning an edge over the competitors as they are collecting more accolades from their customers and they are also slowly building a robust list of loyal customers for them with passing time.
The emergence of a huge pool of tech-savvy customers is also creating a massive opportunity for tech savvy hotel chains. Today’s customers are smart and they want fast and convenient services. To woo this massive base spread across the globe hotel chains are fast changing their existing strategies and doling out tech savvy measures to stay afloat in the market. In the last few years, several hotels across the globe have become the scapegoat of some of the deadliest terror attacks.
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Tech Savvy Hotel Chains: Restraints
The organic growth of tech savvy hotel chains is blocked by the surging cost of hotel friendly technologies. Most of the medium level hotel chains cannot afford costly technological makeovers. The dearth of skilled manpower to handle technology is also plummeting the growth of tech savvy hotel chains.
Tech Savvy Hotel Chains: Bigwigs
There are several apps and advanced technologies which are presently dominating the hospitality segment. Radisson iConcierge app, LodgeNet service by Hotel Duval is equipped with 23-inch ICE (Interactive Customer Service), Hyatt Regency offers a gamut tech-savvy services to their customers. ARIA, Las Vegas is another hotel chain which provides some distinctive services to its customers.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.
The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.
Key Manufacturing Companies:
- W Singapore
- The Hotel Silken Puerta América
- The Yotel New York City
- Eccleston Square Pimlico
- Pengheng Space Capsules Hotel
- Blow Up Hall 5050
- City Hub,Kameha Grand
- Hotel Zetta
- Henn Na Hotel
Key Segmentation:
By Tour Type:
- Domestic
- International
By Consumer Orientation:
- Men
- Women
By Tourist Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Age Group:
- 26-35 Years
- 36-45 Years
- 46-55 Years
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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