💰 In 2023, the hospitality industry faced $47 billion in OTA commissions and a 41% staff churn rate. At ILC in Boston, it was declared that the Property Management System (PMS) is obsolete, a stance held by Cloudbeds since 2021. Cloudbeds, serving over 20,000 properties in 157 countries, processes 10 billion transactions annually. Unlike previous tech revolutions, AI's advantage lies in context, not scale, enabling improved guest experiences and operational efficiencies.

📈 In 2023, AI has reshaped the 2,500-year-old hospitality industry. Property Management Systems (PMS) have become obsolete, as highlighted at ILC Boston. Cloudbeds, since 2014, integrates operations, distribution, and guest experience into one platform, serving 20,000 properties in 157 countries. In 2023, $47 billion was spent on OTA commissions, with 41% staff churn. AI revolutionizes hospitality by emphasizing guest context over scale, challenging the traditional OTA and chain models.

📅 At ILC in Boston 2021, the hospitality industry faced a turning point. Cloudbeds declared the PMS outdated and envisioned a future where AI enhances guest experiences. The $47 billion in OTA commissions in 2023 and a 41% staff churn highlight industry challenges. Hospitality's shift focuses on personalized guest data and technology, moving from fragmented systems towards a unified, AI-driven model. Cloudbeds’ global platform supports 20,000 properties in 157 countries, facilitating 10 billion transactions annually.