Digital competence is now determining hotel winners and losers
For years the online travel market has been a boon for travelers.
But since 2009, the price of Chanel’s quilted handbag and Cartier’s Trinity gold bracelet have increased 70% and 48%, respectively.
However, the average price of a luxury hotel room has increased just 10% in the same period.
Transparency, a fragmented market, and a near-zero incremental cost product (rooms) create an ecosystem where only the strongest and most innovative hoteliers can grow revenues.