By Tony Raval
April 22, 2019
The $500 billion global hospitality industry is facing disruption from new industries and technologies. The sharing economy is changing consumer expectations and causing major shifts in the hospitality industry. In an attempt to stay relevant — and profitable — hotel operators are embracing new technology. They are working to integrate technologies like identity verification services, biometrics and voice recognition technology to keep up with increasing consumer demands.
Global travelers rely heavily on technology, specifically mobile devices, at every step of their traveling journey. For younger generations (Millennials and Gen Zers), this is particularly important since they rely on technology more than previous generations. Currently, many hotels are missing the mark. According to a hospitality report by Oracle, 65% of U.S. guests want hotels to invest in new technologies to modernize their user experiences. This leaves hotel operators with a huge opportunity for improvement.