Digitalization of the Hospitality Industry : An Analysis With a Focus on Revenue Management and Business Growth
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2022
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Abstract
AUTHOR-SUPPLIED ABSTRACT: Abstract Digital transformation and the subsequent smart product and services have funda- mentally altered the hospitality industry, putting enormous pressure on traditional services provided by hotel operators, adding more value to the guest experience, and improving firms revenue, also impacting numerous markets, particularly during the coronavirus pandemic when automation services were critical to ensuring guest safety and improving remote work. This study aims to investigate the influence of digital transformation on the hotel sector and preview various techniques and fea- tures employed by revenue management and hotel practitioners to optimize revenue and expand hotel businesses. The study uses a qualitative method, eight interviews have been conducted with hotel revenue managers and specialists in the hospitality sector. Based on this data, an analysis was conducted to examine the influence of digitalization on the firm's value generation and the cost benefits of this transfor- mation. The findings of this study show that digital transformation positively influ- ences the hotel business on several fronts, including profitability maximization and guest satisfaction. These results resonate with the analysis of the "NUMA" case study. The company has recognized a 500% increase in revenue during the corona- virus pandemic. The results of this research revealed that it is incredibly vital for hotel operators to change from traditional to innovative strategies and services, and to invest more in implementing digitalization within revenue management frame- work and all related systems and services to develop their businesses. Keywords: Tourism, Hospitality, Revenue Management, Digitalization, Innova- tion, Technology