The hotel industry faces competition from a wide variety of competitors vying for guest spend on accommodation; from Airbnb to Online Travel Agents (OTAs). Not to mention other hotel groups, Boutique Hotels and independents.
Tim Davis successfully masterminded the fightback of Hilton against OTAs and knows all about digital disruption. He urges hotels to focus on:-
- Core strengths
- Adapting to the Digital Economy
- Exemplary execution
The same advice is relevant to insurance, banking, retailing, taxi services.... the list goes on.
More good advice in the article below. And don't forget the fundamentals- you won't beat a digital giant in digital transformation but you can beat them focusing on the complete value chain. product offer and competitive differentiation
As incumbent hospitality businesses compete with "born-digital" enterprises they shouldn't look to replicate these ventures. Instead, hotel companies should focus on their core strengths, on adapting for the digital economy, and on exemplary execution.