What's next in the hospitality market

What's next in the hospitality market

New technologies have exerted a considerable influence on hotels, restaurants and bars in recent years, helping them to operate more efficiently and build relationships with consumers – especially those from younger demographics – in what remains a highly competitive market.

It also continues to be an area that is more vulnerable to wider economic and social fluctuations than many others, but hospitality is nonetheless growing quite strongly at present. According to the latest IOTA report from AVIXA, revenue was on course to hit $11 billion in 2023, with a compound annual growth rate of 5.5% predicted through until 2028.

Digitisation and flexibility of the customer experience remain key drivers of change in this market. Robust connectivity is a must for visitors across hospitality sectors, while the ability to enable online food orders and contactless home delivers is also essential. Meanwhile, on the high street, impactful visual displays are more important in encouraging customers to step through the door in the first place.

Facilities managers are increasingly taking an holistic view of the entire hospitality experience, which is likely to involve significant changes to the nature and application of AV technology being used on-site and remotely. From online ordering, self-checkouts and touchless payments to delivery and pick-up, technology presents unique solutions for hotel, food and beverage establishments to differentiate themselves and to be run more efficiently. In turn, this gives their owners more time and energy to focus on delighting guests with memorable experiences.

High-end digital signage is sure to remain a key part of hospitality AV spending, but many observers also expect AR and VR to become more commonplace. Creating next-level experiences is key to attracting guests and getting them to increase on-premise spending, so improvements in technologies that support this will be at the top of the shopping list.

Content management systems are also key as compelling content is distributed to many points of consumption throughout a property. All of this has the greatest impact in the larger resort types of facilities as an ‘experience arms race’ ensues to create differentiation.

Where to find hospitality solutions at ISE 2024

You can discover the future of the smart hotel, restaurant and catering market, and the technology benefits to your businesses, at ISE 2024. From electronic menus and one-touch ordering to fully automated cyber concierge services, the experience is being digitised faster than ever. The Digital Signage & DooH Zone in Hall 6 should be the first port of call, with key brands including BrightSign, Scala, NoviSign and Aluvision.

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