Research: Three-Quarters of Hoteliers Agree That Revenue Management Technology Will Increase in Importance
According to the new research, 67% of survey respondents believe that the use of technology will have a "high" or "very high" impact on the profitability of their organizations.
A new research report examines how investors view revenue technologies, the role of artificial intelligence in hospitality, and how technology is reshaping hospitality industry.
The research, “Unlocking hotel performance: The power of revenue management technology today,” revealed that 78% of respondents believe that the use of artificial intelligence (AI) in revenue management technology will significantly increase in the next three years.
The report, which was conducted by Benchmark Research Partners, The Caterer and IDeaS, a leading revenue management solution provider, further highlighted that 64% of respondents believe that AI will play a critical role in the future of revenue management.
Among the other key findings:
76% of survey respondents believe that revenue management technology will become more important in the future, with 58% stating that it will be “much more important.”
72% of respondents believe that technology is “very important” in this process, with a further 21% describing it as “somewhat important.”
69% of respondents believe that the use of technology in the hotel industry will increase in the next three years.
67% of respondents believe that the use of technology will have a “high” or “very high” impact on the profitability of their organizations.
65% of respondents believe that the use of technology will lead to a “significant” or “very significant” increase in the efficiency of their organizations.
63% of respondents believe that the use of technology will lead to a “significant” or “very significant” improvement in the quality of their services.
61% of respondents believe that the use of technology will lead to a “significant” or “very significant” increase in customer satisfaction.