Benchmark Report Urging Tech Prioritization and Strategic Restructuring in the Hospitality Industry
Noida, 18 June 2024: RateGain Travel Technologies Limited (RateGain), a leading provider of AI-powered SaaS solutions for travel and hospitality, announced today that the NYU School of Professional Studies Jonathan M. Tisch Center of Hospitality (NYU SPS Tisch Center) and its Hospitality Innovation Hub (HI Hub) Experiential Learning Lab, along with HEDNA and RateGain, released the first edition of The State of Distribution for 2024. The first of its kind report was created with an aim to help leaders with strategic decision-making, prioritizing technology investments, organizational restructuring, and training and education.
Today, more than ever, hotel commercial teams are getting involved in making technology decisions in the organization. While commercial teams in other industries have online communities and benchmark studies to help them make decisions, there has been an absence of defined standards and benchmarks in hospitality technology and this report will address that.
The report created through primary research conducted from December 2023 through May 2024 with representing 11,000+ hotel properties across various regions, is an essential read for commercial teams, students, hotel management companies, and anyone interested in understanding the evolution of the distribution landscape in hospitality.
Few of the insights from the report that can help hoteliers make strategic decisions include:
- Ease of implementation and Clear ROI continue to be the top two factors for deciding on technology solutions
- Investing in technology training is a key area of investment for all types of hotels. Large chains focus on comprehensive training, mid-size chains on high-impact training for ROI, and independent hotels on maximizing critical systems.
- Tracking intent is a major challenge, with 50% of hotels unable to track intent outside of the hotel website and social media analytics
- Hoteliers are spending 25% of their time on reporting with a majority of them stating it as a key area of increased manual effort
Insights are critical today as plagued by multiple challenges; the industry needed to understand what their peers are doing to give them a direction on where to invest their resources to drive profitability.
Vanja Bogicevic, PhD, the director of the HI Hub Experiential Learning Lab at the NYU SPS Tisch Center, highlighted, “The State of Distribution 2024 report not only empowers hoteliers with the insights needed to thrive in an ever-evolving landscape, but also educates the future workforce with the technology knowledge and benchmarks to face the challenges of tomorrow.”
Fritz Müller, Senior Vice President (Europe) at RateGain, highlighted, "The hospitality industry has seen significant evolution, moving from manual reservation systems to advanced technology solutions. This shift has transformed the technological landscape for hoteliers, making it increasingly complex and interconnected. The State of Distribution Report serves as a valuable resource for the industry, highlighting commonalities and differences across various hotel demographics. These insights enable us to discover new solutions and learn from one another. Therefore, RateGain, in collaboration with HEDNA and New York University, has launched this report."
Christopher Murdock, HEDNA President and Director of Distribution System Support and Strategy at Accor, stated, “The State of Distribution 2024 report is more than a resource—it’s a strategic tool tailored to empower hoteliers to face current challenges and seize future opportunities. With HEDNA’s hotelier perspective, RateGain’s global reach and data insights, and NYU’s educational excellence, we’re bringing together expertise to educate future leaders and provide invaluable insights into the industry.”
To learn more about the report, visit stateofdistribution.com
About The State of Distribution 2024
The State of Distribution report is a comprehensive analysis designed to demystify the complexities of the hospitality industry, offering insights into current trends, future forecasts, and actionable strategies for optimizing distribution channels. This initiative, born from the collaboration between HEDNA, RateGain, and NYU SPS, aims to bridge the gap between industry professionals and academic excellence, providing a data-driven foundation for enhancing guest experiences and driving success in the hospitality sector. Learn more at stateofdistribution.com.
About HEDNA
HEDNA is a global community of hospitality professionals, technology providers, educators, and consultants passionate about elevating the role of distribution. Through influence, collaboration, and networking, we elevate careers, harness new business opportunities, and drive the business of hospitality forward, together. Through our global conferences, local networking events and industry working groups, we help our stakeholders appreciate the nuances of today’s technologies, gauge the impact of today’s trends, and prepare for the challenges of tomorrow. Learn more at hedna.org.
About The NYU SPS Jonathan M. Tisch Center of Hospitality
The NYU SPS Jonathan M. Tisch Center of Hospitality is a leading center for the study of hospitality, travel, and tourism. Founded in 1995, the Tisch Center was established in response to the growing need for hospitality and tourism undergraduate and graduate education. Its cutting-edge curricula attract bright, motivated students who seek to become leaders in their fields. The Tisch Center launched the Hospitality Innovation Hub (HI Hub) that will foster entrepreneurship and creative solutions for the industries it serves. The state-of-the-art facilities offer students, start-ups, established industry partners and investors opportunities to learn, discover, innovate, and invest. For more information about the NYU SPS Jonathan M. Tisch Center of Hospitality, visit sps.nyu.edu/tisch.
About RateGain
RateGain Travel Technologies Limited is a global provider of AI-powered SaaS solutions for travel and hospitality that works with 3,200+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.
RateGain today is one of the world’s largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business. Founded in 2004 and headquartered in India, today RateGain works with 26 of the Top 30 Hotel Chains, 25 of the Top 30 Online Travel Agents, 4 of the Top 5 Airlines, and all the top car rentals, including 16 Global Fortune 500 companies in unlocking new revenue every day. For more information, please visit www.rategain.com
Media Contacts
- Aastha Khurana
media@rategain.com
Director-Corporate Communications, RateGain - Leanne Lonardo
info@hedna.org
Executive Director, HEDNA - Michael DeMeo
michael.demeo@nyu.edu
Director of Public Relations, NYU SPS
