Andersen partner Roger S. Cline and NYU grad program director Mark M. Warner presented the findings. Warner is with the NYU's Preston Robert Tisch Center for Hospitality, Tourism and Travel Administration.
The survey, which takes into account the responses of some 465 hospitality industry executives, reveals that while 58% of the total poll have a formal E-strategy, that breaks down to only 51% of smaller organizations. Some 69% of larger lodging firms have an approach in place. In fact, only 5% of the survey's respondents report that they have a reservation-enabled website.
The good news lies not so much in where the industry is now, but in where it is headed. Cline and Warner reported that the volume of E-business will double in three years.
There are a few considerations--such as the customer's level of web adoption and if they develop a proprietary solution--that could hold back this growth. While the volume of online reservations seems surprisingly low, this too is expected to blossom--to triple in fact--although it might take as long as 15 years to do so.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
