Artificial Intelligence and its Impact on the Hospitality Industry
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New age technology has been significantly helpful in every industry, and the hospitality industry is no exception. In this industry, where the customer is the king, artificial intelligence (AI) has proven beneficial in innumerable ways. Here are some ways in which AI is reshaping the hospitality industry:

  1. Improving Hotel Operations:

Your hotel front desk staff has a large set of responsibilities – from attending to customers in a polite and pleasing manner to answering queries from other guests, from dealing with dissatisfied customers to responding to enquiries. Chatbots created with the help of AI can lessen the mechanical burden on your staff to a large extent and help them focus on their core functions of customer service and satisfaction. 

  1. Occupancy and Rate Optimization:

As a small hotel owner, it can be challenging to keep up with the optimal prices for your rooms as per demand and supply dynamics, seasonality, competitor pricing, and more. The use of AI for creating dynamic pricing helps you ensure the best occupancy rates for your rooms and also ensures that you get the best prices for your room bookings. 

  1. Effective Revenue Management:

While human interaction is the most important quotient of the hospitality industry, cloud-based property management systems can help you effectively take charge of managing your revenues. Over a period of time, they can also provide you with data and statistics such as trend analysis which help you gain an insight into various aspects of your property and plan it better for the future.

  1. Data Analysis:

If you wish to give personalised customer service to each and every customer, you cannot rely on human interaction alone. You need infrastructure that can translate the human interaction of your customer service representatives into data that will get saved in your system for the long term. You can then use this data for personalised customer service. Knowing your guests, their tastes and preferences, the amenities they use, etc., can become a much more systematic and structured approach with the use of AI. 

  1. Multilingual Booking Experience:

Imagine a situation where your customer does not speak the regional or local language, and you have trouble trying to understand the foreign language that they speak. A single communication barrier can be a significant hindrance that can put a dent in your customer service, generate negative reviews and prevent many potential customers from opting for your service in the future. Language translation chatbots powered by AI can create a smooth multilingual customer experience that can help you earn satisfied customers.

  1. Informing Competitive Intelligence:

Data is the most powerful weapon of the 21st century. When you have the power of data at your disposal – data about demographics, local review data, areas which are of least attraction to tourists and more – this can be very useful in helping you make decisions that best resonate with your audience. It will help you gain an edge over your customers. Regardless of your size of the business, AI can help you maximise your reach and help you gain accessibility in front of the right audience. 

Artificial Intelligence or AI in the hospitality industry is one of the most powerful tools of our age. And business owners who know how to make their best use can witness valuable growth, keep up with the cutting-edge competition and gain a sizeable market share.

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