It’s no secret that technology is transforming the hospitality industry. From online ordering to virtual reality hotel tours, nearly every aspect of hospitality has been reshaped by recent advances in technology.
Let’s take a look at some of the latest developments in the digital revolution—and how restaurants and hotels can leverage these technologies to improve their operations and increase profitability.
Point-of-sale (POS) Systems:
POS systems act as command centers for all transactions and data within a business, enabling hospitality businesses to manage food orders, payments, invoicing, inventory, sales tracking, staff scheduling, and more—all from one central location. POS systems automate many of these processes, leading to increased accuracy, consistency, and efficiency across the board.
Online Ordering and Reservations:
Online ordering systems let customers place orders directly from a restaurant website or via third-party mobile apps. Similarly, online reservation systems allow customers to make reservations from their phones or computers, while at the same time enabling restaurants to better manage seating plans and wait times.
Digital and QR Code Menus:
Digital menus, electronic menu displays, and mobile QR code menus allow restaurants to update menus in real-time and display eye-catching visuals.
Contactless and Mobile Payments:
Contactless payment enables customers to tap their credit cards or smartphones on a payment terminal to pay without cash or a PIN, while mobile payments allow customers to pay directly from their phones.
Self-Order Kiosks:
Self-service kiosks and tableside ordering tablets enable customers to view menus and place orders using a touchscreen.
Self-Check-in/Check-out Kiosks:
Similar to self-order kiosks, self-check-in kiosks allow hotel guests to check in and out of their rooms without the need for a physical staff member. These self-service kiosks create a faster and more convenient check-in experience for guests while also reducing staffing costs.
Automated Email Marketing:
Specialized software enables hospitality businesses to automate emails to customers based on pre-established triggers, cutting down on administrative time and costs.
Personalized Marketing through AI:
Artificial intelligence has the ability to learn user preferences and tailor marketing strategies and experiences to meet those unique preferences.
AI Chatbots:
Customer service chatbots answer questions for guests in place of a human employee, ensuring consistent service and responsiveness, and saving hospitality employers on labor costs.
Virtual Tours:
Virtual reality tours offer guests an immersive look at buildings, grounds, and amenities prior to booking.
Sustainable Technology:
Sustainable tech, such as smart thermostats and lighting, renewable energy sources, and waste reduction systems, can help restaurants and hotels save on energy and operational costs.
Data Analytics:
Automated data analytics technology helps hospitality managers identify purchasing patterns, customize guest experiences, and optimize pricing.
Demand Forecasting:
AI-driven predictive analytics allow businesses to more accurately forecast future demand, guiding important operational decisions.
Social Media:
Hotels and restaurants are increasingly turning to social media marketing on platforms like TikTok and Instagram to engage with customers, especially among younger audiences.
Are You Taking Advantage of Available Technologies?
Hospitality businesses are seeing real benefits as a result of embracing AI, automation, and other technologies. Based on a 2024 survey conducted by TouchBistro and research firm Maru/Matchbox, nearly all of the 600 restaurant owners and managers participating in the survey reported benefits from automation, “with 42% reporting more productive staff, 41% reporting an increase in sales, and 40% reporting business growth.” EHL Insights lists several benefits for hospitality businesses adopting new technologies, including more personalized guest experiences, increased operational efficiency, cost optimization, and improved competitive advantage. While you consider the benefits new technology could bring to your business, let RBT CPAs take care of your accounting, audit, tax, and advisory needs. Reach out to RBT CPAs today to find out how we can be Remarkably Better Together.