By Hotel Business
October 1, 2018
The U.S. accommodations sector alone comprises 4.2 million U.S. jobs and generates $293 billion in revenue. Understanding the need to differentiate their offerings to stay competitive, hospitality companies are investing in audiovisual (AV) solutions, with plans to spend 5.9% of capital improvement budgets on AV this year. According to the new 2018 Market Opportunity Analysis Report (MOAR) covering hospitality, produced by the Audiovisual and Integrated Experience Association (AVIXA), U.S.-based hotel firms will spend approximately $3.1 billion on AV projects this year.
“Hospitality is a flourishing market that is motivated to invest in AV solutions in order to make the guest experience memorable,” said Sean Wargo, senior director of market intelligence, AVIXA. “Hotels want reliable and user-friendly technology in guestrooms and to bring the wow factor to social spaces. There is a wealth of opportunities for pro-AV firms to work with these venues as technology partners to realize these goals.”