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Hotel Execs Say Artificial Intelligence Will Provide Efficiencies, Not Replace Human Element – CoStar

While the hotel industry continues to grapple with how and where to employ artificial intelligence for greater efficiency, hotel executives said human-to-human interactions will remain a priority and at the forefront of the industry.

Speaking at the “Aligning Stakeholder Objectives to Power Performance” session of the 2024 NYU International Hospitality Industry Investment Conference, PM Hotel Group President Joseph Bojanowski said technology will be key in taking the more mundane tasks off the plate of hotel employees.

“Whether that technology is robotics, machine learning or artificial intelligence, our first target is highly repetitive tasks or transactions to move those into technology,” he said.

For the time being, at least, MCR Hotels Chairman and CEO Tyler Morse said artificial intelligence is all talk.

“Nobody’s actually using it,” he said. “Everybody’s been on ChatGPT and checked it out, and it was a fun parlor game. But it’s not actually being executed or implemented in hotels. We are a people-based business. Most of our team members are interacting with customers.”

But Greg Friedman, managing principal and CEO of Peachtree Group, said AI will have to be utilized in hotels in order to manage labor costs.

“I hear Tyler’s comment because it’s a people business, too, but at some level, we can find efficiencies in staffing and really just provide a better experience to guests,” he said. “When you look into the future, AI is going to be here a lot quicker than 10 or 20 years. All of these tech companies are going to invest capital and find ways to disrupt services and provide software more efficiently.”

Pyramid Hotel Group President and CEO Warren Fields said hoteliers can’t let AI take over their businesses broadly, but it will clearly have a place in practices such as accounting and billing.

Click here to read complete article at CoStar.

Posted by on June 19, 2024.

Categories: Technology

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