Innovation In Hospitality Industry

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Introduction

Innovation is considered as one of the major sources of competitive advantage and economic growth of the company (Porter & Ketels, 2003). As any business hotels, restaurants or any other hospitality organizations aims to maximize their profits, being creative helps but is it difficult to create or support a new innovation?
Firstly, let’s concentrate on what is really an innovation, Schumpeter (1947) was one of the first to develop a theory about innovation. He defines innovations as “new ways of doing things, or better, unique combinations of the factors of production”
But as per (Collins & Fahy 2011) Innovation is an expression of human creativity and lateral thinking is not the result of economic development (as like Schumpeter
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In the unique service delivery process, customers are also taken into consideration for new role. Hotels upgrading their flow of work process with adopting technology, like automated services for front and back office. Because of the process innovation there is improvement in the efficiency in the delivery of services to the customer.
Logistics Innovation:
The information flow in the organization is now getting much quicker. Due to busy schedule of guest, hotelier is providing complete information in the internet so that it will be easier for them to book a suite from a single window. Now hoteliers are managing supply chain relationship with travelling agents, courier services, and tourism so that it will be convenient for guest.
Market
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While many hospitality organizations focus on addressing problems, the most successful company’s focus on raising the bar. One of the ways they do this is by creating a culture where innovation is taking a main part, it is fairly difficult to set the company especially in the hospitality industry where the capital isn’t always there and tight budgets are set but most of the big brands can afford to be creative and to create an innovative
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