Luxury Hoteliers Magazine 1st Quarter 2018 | Page 47

Behind each business, there is always the action of selling a product and its market demand, the exchange of money and goods, and the exact moment when a customer’s needs or wishes are met and they gain possession of the product. This process could never happen in Hotel Industry where the product sold is untouchable, subjective and ephemeral. When customers purchase your “product”, what they are really purchasing is an experience, the value that derives from the satisfying, profitable, service provided to them. For services companies, in fact, managing the customer’s experience is a critical component of most any successful strategy. Customer expectations run higher and higher and the hotel industry has found that Technology might provide the means to overcoming this challenge, to fulfil every guest’s needs and attract ne w clients. ILHA 47