{"id":6992,"date":"2021-04-28T17:31:01","date_gmt":"2021-04-28T09:31:01","guid":{"rendered":"https:\/\/www.vouch.sg\/?p=6992"},"modified":"2024-04-01T17:02:22","modified_gmt":"2024-04-01T09:02:22","slug":"the-price-tag-of-tech","status":"publish","type":"post","link":"https:\/\/www.vouch-technologies.com\/en\/the-price-tag-of-tech\/","title":{"rendered":"The Price Tag of Tech"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\tMany hoteliers often misunderstand the cost of implementing hotel innovations<\/strong>. An alternative cost evaluation shows that a smart hotel technology could cost as low as 0.1% of each room\u2019s revenue<\/strong>.\n
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\nBesides direct impact on revenue, digital solutions could help you realise dramatic labour savings every month<\/strong>, maintaining sustainable labour costs. Viewed objectively, hotel innovations are only expensive if the returns are poor<\/strong>.\n
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\nWhen engaging a hotel technology vendor, always choose a trusted partner with positive reputation<\/strong> and proof of high user adoption rates<\/strong>.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\tAt Vouch, we often hear statements like \u201cour budget is not big enough for innovation,\u201d and \u201chotel digitalisation is too expensive\u201d coming from potential clients, and we recognise that the association of high-tech with high cost is a common misapprehension when it comes to adopting new hotel technology. In this article, we offer an alternative way of considering the cost of innovation<\/b> and make the case for how prudent investment in digitalisation can pay substantial dividends for your hotel almost immediately.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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A Fair Calculation of Costs and Gains<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\tFrequently, when we hold discussions about cost with potential clients, we notice them struggle to evaluate the overall cost of digitalising against its benefits. In our experience, we find that converting the total cost of adoption into a monthly, per room figure and comparing it against monthly room revenue helps provide clients with an easier way to do the necessary cost-benefit calculations.\n
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\nAssume, for example, that your property has an Average Daily Rate (ADR) of US$150, and that in a span of a month (30 days), this room would contribute US$4,500 to the hotel\u2019s revenue. The cost to incorporate Vouch\u2019s complete Guest Experience Platform<\/a> into your hotel works out to approximately US$5 per room, per month. A quick calculation will reveal that it costs a mere 0.1% of each room\u2019s revenue<\/b> to implement a smart hotel solution that could save hundreds of man-hours for your operations team monthly, in addition to boosting guest revenue and improving guest satisfaction.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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What's in it for me?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\tSo, what benefits can you expect to gain in return for a tiny fraction of a percent of your rooms\u2019 revenue?\n\nSome recent metrics from our clients might give you a clearer perspective of the man-hour savings and additional revenue smart technology can deliver during this period of reopening.\u00a0<\/span>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\tBy leveraging our guest experience platform\u2019s ability to answer commonly asked guest queries, manage facility bookings and process room item requests automatically, our client hotels were able to realise dramatic labour savings every month, easing manpower shortages and maintaining sustainable labour costs<\/b>. Additionally, the implementation of Vouch\u2019s all-in-one F&B platform made in-room dining<\/a> even more convenient for guests than before, leading to an increase in in-room dining orders \u2013 and consequently, revenue during their stay.\n
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\nViewed objectively, it becomes clear that hotel innovations are only expensive if the returns are poor. In this regard, Vouch is confident that the smart solutions we offer represent some of the best value in the market today. In fact, we\u2019re pleased to say that we have never lost any hotel clients in the years we\u2019ve serviced the industry.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Picking the Right Technology Vendor<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\tAs the spotlight continues to shine on innovation and technology as the future of hospitality, the competition for your tech dollars will only intensify with each budget cycle. When there are more hotel vendors knocking on your door than you know what to do with, how do you decide who to entrust your business with?\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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