Acquisitions in the hospitality sector are on the rise. Surviving an acquisition can be challenging. From budget overruns to staffing issues to the right technology migrations, it can be a perilous journey.
According to a recent Hospitality Upgrade article, hotel IT professionals should develop comprehensive plans for technology migrations before, during and after an acquisition. From the developing new property management system interfaces to match the brand to conforming to guest Internet specifications – which vary widely among brands – to business center requirements, the list is highly extensive.
In addition to addressing system-wide integration challenges, this time of change also creates an opportunity for brands to embrace new innovations, which actually support the strategic efforts behind the acquisition. For example, if a larger brand is acquiring a smaller high-end chain, it presents the opportunity to invest in new SoLoMo innovations that appeal more to high-end, connected travelers
An acquisition also creates the chance for IT staff to collaborate, learn and better innovate with IT personnel from the acquiring brand, and vice-versa. Frequently territorial issues arise after an acquisition. However, hotel IT professionals who are more open to being collaborative will experience the more professional gains from working on a larger team. It will also create an opportunity to bring new innovations to the table that both support the brand and reinforce the true value of hotel IT.
Finally, it is an ideal time to break down the organizational silos that are very common with larger hospitality providers. These silos cause roadblocks in getting the right information into the hands of guests, which this happens the overall brand can suffer tremendously.
Acquisitions and takeovers provide a time of great change. Technology migrations are a herculean task and it is easy to fall into the trap of only checking things off of your to-do-list. It is also equally important to use the opportunity to think more strategically about how new innovations can help the brand overall.
When this happens, everyone wins …