Hospitality is the relation between the guest and the host. It refers to providing services to guests in hotels restaurants, etc. The hospitality industry includes lodging, food and drink service, event planning, theme parks, transportation, cruise line, traveling and the tourism industry. According to a report by KPMG, the hospitality sector in India is expected to grow at 16.1 percent CAGR to reach Rs 2,796.9 thousand crores in 2022. The hospitality sector share in the GDP is higher than any other sector also it provides huge development to economic growth. More share in the GDP is due to many tax imposition in this sector. They pay multiple layers of tax such as VAT, service tax, luxury tax, etc.
Impact of technology in the hospitality sector
AI & Hospitality
With modern developments, the hospitality sector needs to collaborate with artificial intelligence technology. Artificial intelligence is combining machines with human intelligence and then allowing them to work on their own without any human intervention. To keep on moving with the modern era, the hospitality industry needs to digitize as soon as possible. With digitization, it will become easy to provide service to the customer and fulfill their needs. Customers can now book restaurants from their home and would be able to make comparisons between various restaurants. Before it was very difficult to find accommodation of our choice in a new city, with the digitized technology we can see hotels room at our screen and their facilities and choose between them.
Big Data and hospitality
To provide huge client service we need to be equipped with individuals data. Manually managing these data is very difficult, therefore incorporating big data analytics will boost the integrated client service. With the individual service, we will know our customers better thus providing them with the best services.
Security in the hospitality industry
Security is one of the major concerns of the clients in this sector. Firstly we need to have secured data so that no personal details of the customer are leaked in any case. Technology has enabled us with user behavior analytics, hardware authentication, data loss prevention, and such technologies so that no data gets tempered.
With the revolution of digitization, the hospitality industry has started to digitize. It has enabled better marketing opportunity since everything is now at our convenience, people can easily compare different hotels and restaurants and find the best accommodation and meals. It is satisfying more and more people and generating trust in this sector.
(The article is authored by Tripti Twinkle, Senior Correspondent, Techxty.com – a new age technology media platform which brings to you the latest trends & happenings in the emerging technology domain.)