Restaurant And Hospitality News – September 12, 2016
By Christine Kern, contributing writer
In news this week, a new report finds the hospitality software market poised for radical growth; Subway is boosting its e-commerce capabilities with a new acquisition; and a new guide is available to help hoteliers implement property management systems.
Report Finds Hospitality Software Market Experiencing Radical Growth
The $25.1 billion Hospitality software market will see radical growth and transformation over the next several years, according to a new report from IHL Group. The new study, Total Hospitality Software Market, is the first in a new series of hospitality research that will include reports on hospitality hardware, software-as-a-service, and total store level systems. This report aims to provide the most detailed and complete picture possible of the retail technology landscape.
"The hospitality market is exploding with opportunity and has been underserved for solid IT market share information for some time," said Greg Buzek, President of IHL Group. "This new research not only outlines who the players are, but the market size, vendor market share, and positioning going forward. It is ideal for those looking to understand the size of the IT opportunity, market direction and possible acquisition candidates in this space."
The Total Hospitality Software Market Study provides an overview of the market, trends driving increased IT adoption, forecasts for software, SaaS, customization and maintenance through 2020, rankings of the top 15 vendors, and detailed competitive company profiles for the top vendors. It also includes IHL Insight MarketView positioning maps for Fast Food, Bar/Table Service Restaurants, and Lodging/Casino/Cruise/Entertainment.
Subway Acquires Avanti To Bolster Digital Assets And Global E-Commerce Capabilities
Subway restaurants has announced that it has acquired a 20-member digital technology team and assets from Avanti Commerce, a Vancouver-based online commerce solution provider. Avanti has been partnered with Subway since 2011. The move is part of the chain’s efforts to build its digital presence and bolster its global e-commerce capabilities. The digital technology team will remain in Vancouver and help the chain build its mobile ordering and payment capabilities, as well as accelerating the development of in-store kiosks.
“This reinforces our commitment to attracting top technology and digital marketing talent,” explained Subway chief information officer and chief digital officer Carman Wenkoff. “This will bring our commerce platform of enhancing engagement and building loyalty to the next level and will allow us to deliver value to the market quickly.”
This acquisition follows the recent creation of Subway Digital, which organized all digital technology for the sandwich chain under a single group. Subway will also be added at least 50 jobs this year and up to 150 jobs over the next five years to its Subway Digital team, demonstrating its clear commitment to the digital channel.
“Being the only provider that has deployed online ordering at such a large scale, in multiple countries, has put us in a great position to pursue our mission of providing convenience while bridging the in-store and online experience for brands and customers alike,” Jason Strashek, Avanti founder and CEO, said in a statement.
New Guide Helps Hoteliers Implement Hotel Property Management Systems
Starfleet Research, the leading provider of best practices IT market research for the hospitality industry, has released The 2016 Smart Decision Guide to Hotel Property Management Systems. It is available for complimentary access, and highlights emerging trends and new technology innovation, with a focus on the role of PMS in improving the overall guest experience.
The report asserts, “To the extent that it enables multiple guest-facing activities while capturing and storing guest profile data every step of the way, a next-generation property management system (PMS) can play a critical role in enhancing the guest experience. Today, in fact, there may be no better measure of performance than the degree to which the technology helps raise the level of overall guest satisfaction.”
“Such a system should serve as the lifeblood of any hotel or resort. It should be viewed as the organization’s central nervous system. In that it facilitates a bi-directional flow of information, delivering real-time data and reports, a PMS should be viewed as the command-and-control center from which all mission-critical decisions are made.”
PMS technology allows hoteliers to centrally manage, track, measure, analyze and optimize the constant flow of information across all parts of the organization, and in a real-time manner to ensure efficient and effective operations throughout the hotel or resort.
The 2016 Smart Decision Guide to Hotel Property Management Systems is now available for complimentary download. It can be accessed here.