Innovation

🍽 Toast's 2024 survey showed 48% of restaurant decision-makers plan to prioritize catering in the next 12 months. In Q4 2023, catering orders increased before Thanksgiving and peaked in the first three weeks of December. Weekday orders were higher, especially Tuesdays (+25%) and Wednesdays (+26%), while weekend orders declined, with Saturdays 36% and Sundays 53% below the weekly average. Bakery items comprised 32% of Q4 2023 catering orders. The catering industry is projected to grow at a 6.2% compound annual growth rate, reaching $124 billion by 2032. Toast conducted their survey from May 17 to June 2, 2024, with a +/- 4% margin of error at a 95% confidence interval.

📈 Pickpad, a tech startup, is preparing for its initial full-scale pilot test in Chicago, offering POS-integrated solutions for foodservice pickup accuracy and customer notification with a "phygital" display. Integrated with Square, it aims to streamline restaurant operations. Meanwhile, Starfish, a software-as-a-service company launched in October, provides supply chain traceability without blockchain technology, already partnered with IBM Food Trust. Yelp recently launched AI-powered review insights for restaurant operators and predicts voice AI will grow from a $10 billion to a $49 billion industry by 2029, with 71% of operators considering AI implementation.

📈 By 2024, business travel spend was predicted to reach or surpass 2019 levels. Corporate travel will prioritize efficiency, personalization, and safety in 2025, with industry consolidation and AI adoption on the rise. New Distribution Capability (NDC) will gain wider acceptance. Gen Z, making up 27% of the global workforce, will push for self-service travel management. AI will enhance duty of care, with real-time risk management ensuring traveller safety.

💻 Boom, the world's first AI Property Management Software (AiPMS), expands into the boutique hotels sector. Developed by CEO Shahar Goldboim, Boom introduces AI-powered operational software and an autonomous workforce to small and medium-sized hotels. The platform offers cost savings, efficiency, and enhanced guest experiences by automating tasks like rate negotiation, room allocation, and maintenance dispatching. Boom helps boutique hotels compete with larger chains by reducing reliance on multiple third-party apps and minimizing labor-intensive operations.

🏨 STAAH, a tech firm, analyzed hotel booking revenue in Oceania revealing the top distribution channels. Booking.com ranked first in New Zealand and Australia. Direct bookings via STAAH SwiftBook were second in New Zealand and third in Australia. STAAH's channel manager integrates with 500+ systems globally. OTA dominance is noted, though diverse strategies using OTAs, GDS, websites, and wholesalers are evident. New entrants like Trip.com and Hotelbeds appeared on the lists, with STAAH GDS being a significant gainer in both countries.

📃 Brand USA, a destination marketing organization, aims to drive international travel into the US, benefiting American citizens, businesses, and travelers. The organization embraces travel as a tool for diplomacy and empathy. Janette, serving as SVP Innovation and Chief AI Officer, focuses on preparing the industry to leverage new technologies like augmented reality, virtual reality, and AI, including predictive and generative AI. She discusses the transformative potential of AI in content creation and decision-making, emphasizing the importance of staying competitive by being "smart" rather than outspending other destinations. Janette's background in theater and tourism, along with her experience at Broadway.com and NYC Tourism, provides her with a diverse perspective on the use of AI. She became particularly interested in AI following the public release of ChatGPT in November 2022. Her role at Brand USA involves ensuring the industry is AI-ready by 2030, recognizing that knowledge work is continually evolving. The discussion touches on the significance of AI for efficiency and ethical business practices and the need for a framework to guide AI adoption within organizations, encouraging a balance of top-down and bottom-up approaches for successful integration. Janette stresses the importance of leading with wonder and embracing the fun aspects of AI to inspire innovation in the workplace.