Swiss Hotel Chain Mövenpick Uses Cloud To Avoid 'Cemetery Of Brands' | forbes.com

Swiss Hotel Chain Mövenpick Uses Cloud To Avoid 'Cemetery Of Brands' | forbes.com


Mövenpick is hoping to escape what its CEO Olivier Chavy called the “cemetery of brands” during a presentation at Oracle Industry Connect here this morning. Profit margins in the hotel industry are between 1% and 2%, and are being squeezed by a combination of macroeconomic and industry-specific factors, such as a changing distributor landscape, tighter management agreements, and higher capital requirements for borrowing. But according to Chavy, hotel operators are under greater threat from organizations like Uber and Facebook, which can leverage platforms to create experiences. He noted that Uber is the world’s largest taxi company yet owns no taxis; Airbnb is the world’s largest hotel company yet owns no real estate. And he sounded a note of alarm, claiming that many in the hotel industry are evolving too slowly to survive. “In the hospitality industry, we are in the age of stone,” he said.

28
Like
Save

Comments

%d bloggers like this: