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How Property Tech is Changing the Hospitality Industry
How is prop-tech changing the hospitality industry?
Technology is advancing at an unavoidable pace, something which can be seen in almost every industry. Property tech, or ‘prop-tech’, is quickly becoming a constant in hospitality, in both hotels and rental properties, whether as a result of the pandemic or as a way of providing a better customer experience. A few years ago, smart home tech was seen as a thing of the future, or perhaps even unnecessary and restricted to the wealthy, however, this is quickly changing.
Mark Zuckerberg, the founder of Facebook, famously has a 100% smart home, with everything from the front door to his heating controlled by technology. The forward-thinking entrepreneur will have benefitted tenfold from this tech, saving energy wastage, helping the environment, improving his home security and even simply streamlining his way of life – turning lights, appliances and temperature controls on remotely. This can all be used to positively impact guests’ experiences in rental properties if used in the correct way.
As time has gone on, smart tech in homes has progressed from a luxury to an essential. Integrating it into properties can not only save both money and time but can also help save the planet. Many processes that once required face-to-face interaction can now be efficiently streamlined, not only cutting down on time but optimising the guest experience and avoiding unnecessary hassle.
What is prop tech?
Prop tech can cover a wide-ranging number of features in a home, from automated heating and air conditioning to remote-controlled appliances such as washing machines or kettles. It includes devices that can save on unnecessary wastage, such as smart metres to ensure energy waste is limited and even motion detectors which can turn lights on and off when someone enters a room, reducing electricity costs.
Within the hospitality industry, prop tech is already firmly integrated. During the pandemic, human interaction needed to be kept to a minimum, leading to the requirement for more tech-based solutions. Hotel key cards, once a staple of checking into a property, have been replaced with easy-to-use keypads which generate a check-in code, and this can also be used for a simple check-out process.
Safety is naturally a concern for those staying in hotels and other properties, but smart locks and exterior sensors can now be monitored via apps, meaning owners are alerted at the first sign of trouble. Similarly, guests are continuously looking for an effortless experience, so specifically designed apps or QR codes within properties now allow people to have a range of options at their fingertips, from ordering a taxi to finding something for breakfast.
Airbnb is one such company where in many of the homes you rent, you can likely find some form of prop-tech. This is particularly true in the UK and US where the company is booming. Keyless access is a given in many houses listed on Airbnb, providing another layer of safety for homeowners who will be renting out their properties to numerous people.
In addition to this, devices such as Ring doorbells are also being utilised so that while guests are staying, owners are aware of who is entering and exiting their property. Energy is also of vital importance, and prop tech now exists to monitor possible water leaks, so that owners can be immediately alerted and minimise damage.
How Nestor Uses Prop Tech
In London, Nestor utilises its own prop tech to streamline the guest experience in all of its rental properties. Instead of keys, apartments are each equipped with smart locks, with guests each having a unique check-in code for their stay and property. Not only does this increase security, but also avoids unnecessary face-to-face contact.
Likewise, within Nestor apartments guests can find QR codes throughout, allowing them to access information about the local area, order a cleaning service or even book a massage!
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Why prop-tech is essential for a sustainable rental business
Failing to utilise the benefits of prop-tech may see businesses being left behind. With every passing day, technology is advancing, and this particularly applies to the hospitality industry where tech, including security, key cards, and in-room devices is constantly evolving.
With energy prices increasing almost exponentially in 2022 and beyond, it is more important than ever to keep track of business expenditures, such as water and electricity usage. This can easily be monitored and controlled through the simple installation of smart devices. On top of this, it has a positive environmental impact and ensures unnecessary usage is limited.
Given the Covid 19 pandemic, guests don’t only want but have come to expect a contactless check-in service as well as minimised interactions throughout their stay which can be made far easier using prop tech.
Many hotels elevate the guest experience by including smart TVs and even smartphones in rooms, allowing visitors to take these out and about with them, quickly access information about the local area and have immediate contact with staff.
Likewise, tech that is used in homes can also effectively be used in rental properties, such as temperature control devices like Hive, which allows heating or air conditioning to be turned on at specified times, both increasing comfort for guests and reducing wastage when no one is home.
A sustainable future
What does the future hold for prop-tech within the hospitality industry? Inevitably, this type of technology will continue to develop and what can be achieved in terms of sustainability knows no bounds. We are already witnessing futuristic home devices, such as fridges that can tell when you’re running low on food – and send a notification, or even make a delivery order on your behalf!
Using prop tech to benefit your business is a multifaceted solution, ensuring you have the latest tech in terms of home appliances, systems and security. Furthermore, entering this space now will positively impact guest experience, encouraging them to continue relying on your business knowing they can expect the latest and the best in hospitality tech.
Prop tech can also be used to your advantage as a business owner by having a cost-saving solution at your fingertips, which reduces energy wastage, helps the environment, provides guests with an amazing experience and gets the absolute best out of a rental property.