8th November 2024: ILUNION Hotels and Les Roches Global Hospitality Education have unveiled the results of the First Hotel Innovation Barometer during the III Global Summit by ILUNION Hotels. This pioneering study, conducted in collaboration between both organizations, provides a comprehensive view of how over 40 international hotel companies of various sizes in Spain and abroad are adopting innovation to enhance their competitiveness and meet future market demands.
The report offers a unique snapshot of the maturity level of innovation within the hotel sector. Moreover, it serves as a benchmark tool for identifying where a hotel company stands in relation to the rest of the market. The study evaluated seven key variables: strategy, technology, structure and processes, ecosystem, culture, competitive intelligence, and communication. The anonymous survey targeted CEOs and directors of Innovation, Technology, and Transformation from medium and large hotel companies, using objective metrics.
Training and Synergies as a Catalyst for Innovation
Nearly 60% of respondents stated that their brand does not allocate any specific budget for innovation. Among those that do have an innovation budget, most initiatives are driven by top executives rather than specialists in the field. The results show that only 25% of companies offer dedicated training programs in innovation.
As the qualitative report highlights, innovation goes beyond just technology; it is a process that creates value throughout the entire production chain, with significant room for improvement. Innovation is emerging as a critical tool for hotels to anticipate future trends, respond to the needs of both customers and employees and explore new technologies.
Although most participants support collaboration and synergy among companies, the study reveals that about 50% of them are not yet interested in collaborating with startups.
Additionally, more than half of the respondents state that their companies proactively apply innovation, aiming to position themselves as market leaders or pioneers in the hotel industry. However, less than half of the participating companies successfully leverage innovation insights and intelligence from other industries.
Findings and Future Updates
The First Hotel Innovation Barometer demonstrates that while innovation is primarily driven by technology and strategic market alignment, leadership, training, and corporate partnerships are still lacking for further evolution.
“This barometer not only assesses the current state of innovation but also serves as a strategic tool for hotel companies to measure, understand, and improve their innovation capabilities,” said Carlos Bello, Director of Innovation at ILUNION Hotels. “Innovation is a key differentiating factor in such a competitive market, and this barometer shows us the direction we need to take,” he added.
Les Roches also emphasizes the importance of innovation as a driver of competitiveness: “This study encourages hotel companies to take decisive action to improve their processes and services, showing that collaboration with startups, as well as with academic, public, and tech organizations, is essential,” said Susana Garrido, Director of Innovation (Spark X Foundation) and EdTech at Les Roches.
Carlos Díez de la Lastra, CEO of Les Roches, added: “We are in the perfect moment to foster a culture of innovation. Our companies have all the tools they need to develop competitive projects that add value to our market. Two key aspects are crucial here: training and the creation of an innovative ecosystem that draws from other sectors, creating synergies and mutually beneficial agreements.”
The Innovation Barometer will be conducted periodically, allowing companies to track the progress of their innovation efforts and continue driving improvements.