News Briefs

ILUNION Hotels and Les Roches, an institution in hospitality management and luxury tourism education, have unveiled the results of the First Hotel Innovation Barometer during the III Global Summit by ILUNION Hotels.

This pioneering study, conducted in collaboration between both organizations, provides a comprehensive view of how over 40 international hotel companies of various sizes in Spain and abroad are adopting innovation to enhance their competitiveness and meet future market demands.

The report offers a unique snapshot of the maturity level of innovation within the hotel sector. Moreover, it serves as a benchmark tool for identifying where a hotel company stands in relation to the rest of the market. The study evaluated seven key variables: strategy, technology, structure and processes, ecosystem, culture, competitive intelligence, and communication. The anonymous survey targeted CEOs and directors of Innovation, Technology, and Transformation from medium and large hotel companies, using objective metrics.

Training and synergies as a catalyst for innovation

Nearly 60% of respondents stated that their brand does not allocate any specific budget for innovation. Among those that do have an innovation budget, most initiatives are driven by top executives rather than specialists in the field. The results show that only 25% of companies offer dedicated training programs in innovation.

As the qualitative report highlights, innovation goes beyond just technology; it is a process that creates value throughout the entire production chain, with significant room for improvement. Innovation is emerging as a critical tool for hotels to anticipate future trends, respond to the needs of both customers and employees, and explore new technologies.

Although most participants support collaboration and synergy among companies, the study reveals that about 50% of them are not yet interested in collaborating with start-ups. Additionally, more than half of the respondents state that their companies proactively apply innovation, aiming to position themselves as market leaders or pioneers in the hotel industry. However, less than half of the participating companies successfully leverage innovation insights and intelligence from other industries.

Key findings and future updates

The First Hotel Innovation Barometer demonstrates that while innovation is primarily driven by technology and strategic market alignment, leadership, training, and corporate partnerships are still lacking for further evolution.

Carlos Bello, Director of Innovation at ILUNION Hotels, said: “This barometer not only assesses the current state of innovation but also serves as a strategic tool for hotel companies to measure, understand, and improve their innovation capabilities. Innovation is a key differentiating factor in such a competitive market, and this barometer shows us the direction we need to take.”

Les Roches also emphasizes the importance of innovation as a driver of competitiveness. “This study encourages hotel companies to take decisive action to improve their processes and services, showing that collaboration with start-ups, as well as with academic, public, and tech organizations, is essential,” commented Susana Garrido, Director of Innovation (Spark X Foundation) and EdTech at Les Roches.

Carlos Díez de la Lastra, CEO of Les Roches, added: “We are in the perfect moment to foster a culture of innovation. Our companies have all the tools they need to develop competitive projects that add value to our market. Two key aspects are crucial here: training and the creation of an innovative ecosystem that draws from other sectors, creating synergies and mutually beneficial agreements.”

The Innovation Barometer will be conducted periodically, allowing companies to track the progress of their innovation efforts and continue driving improvements. For more information, download the summary report, and participate in the next barometer here.

Shift4 has acquired a majority stake in Vectron Systems AG, a European suppliers of point-of-sale (POS) systems to the restaurant and hospitality verticals. 

Based in Germany, Vectron has 65,000 POS locations across Europe, representing. Shift4 is expected to acquire additional ownership of Vectron through a public tender offer that is expected to conclude within the next month, with a de-listing and formal integration process to occur shortly thereafter.

The acquisition is expected to provide Shift4 with an expansive customer footprint across Europe as well as a distribution network of ~300 POS resellers. As a result of the acquisition, Shift4 believes it will be able to add its integrated payment services to current Vectron customers and products, while also empowering the sales force with a compelling all-in-one POS and payments solution unrivaled in Europe.

“Shift4 was at the forefront of the convergence between software and payments in the restaurant and hospitality verticals in the US. We see an incredible amount of demand for a similar all-in-one solution across Europe,” states Shift4 CEO Jared Isaacman. “With our integrated payments and SkyTab offering, we believe we have the best solution at the right price point. Vectron will provide valuable local expertise, infrastructure, and the distribution necessary to meet the demand. This acquisition is right out of the Shift4 playbook – enabling us to unlock synergies, expand our distribution, and monetize payments for a large existing install base.”

Completes Revel Systems Acquistion

In addition to the acquisition of Vectron, Shift4 has also completed its previously announced acquisition of Revel Systems. Revel has over 18,000 merchant locations across the United States and internationally which Shift4 estimates represents a $17B+ payment opportunity. Revel also has a direct sales and dealer distribution network which Shift4 believes can be leveraged to accelerate SkyTab distribution both domestically and abroad. 

Shift4 has signed a definitive arrangement agreement to acquire Givex Corp., a global provider of gift cards, loyalty programs and point-of-sale solutions. 

The Arrangement Agreement is subject to customary closing conditions and the transaction is expected to be completed in the fourth quarter of this year. 

With across more than 100 countries, Givex serves a wide range of businesses in various industries, including 7-Eleven, Wendy’s, Best Western, Texas Roadhouse. 

The company offers robust gift card and e-gift solutions as well as customizable loyalty programs, and a point-of-sale (POS) system for various business types, among other value-added services.

 “Givex has a considerable footprint around the world which will dramatically increase Shift4’s overall customer base,” states Shift4 President Taylor Lauber. “At the same time, their gift card and loyalty solutions are second to none and will add significant value for our current customers, creating stickier relationships andh 130,000+ active locations enhancing our overall value proposition. Similar to other deals we have recently completed, this acquisition aligns perfectly with how we like to deploy capital – adding blue-chip merchants at a low customer acquisition cost while delivering additional benefits to our customer base.” 

“The Givex team looks forward to joining the Shift4 family and bring our enterprise gift card capabilities and loyalty programs to hundreds of thousands of new customers,” says Don Gray, CEO of Givex. “By combining Shift4’s end-to-end payment solution with our value-added engagement services, we can deliver an unparalleled package to both of our customer bases.”  

Encore, a global event technology and production services provider, confirmed today the launch of its pioneering ‘Overtime Savings Program’ in the United States, along with additional people-first programs to further support its ongoing workforce in a seasonal industry.

Powered by UKG’s payroll technology, this first-of-its-kind program aims to enhance financial wellness and stability for Encore’s frontline employees, many of whom work in markets that experience seasonal ebb and flow of business volumes.

With 12,000 team members providing event technology and production services at 2,200 hotels and conference venues in 20 countries, Encore faces the same challenges common in the hospitality industry. Seasonal fluctuations often result in workers’ hours varying from ample overtime during peak times to reduced schedules in off-season periods. This seasonality makes it difficult for workers to maintain consistent earnings and creates challenges for companies to retain talent in the off season.

“Encore has always believed its team members are the heart of our story. This people-first mindset motivates us to constantly evolve our team member experience and innovate around challenges, like the impact of seasonality, that the industry previously viewed as immutable,” said Ben Erwin, president and CEO of Encore.

In addition to the Overtime Savings Program, the company launched a Seasonal Leave of Absence Program, which offers team members the flexibility to take time off during slower seasons while retaining full benefits, accruing paid time off, and maintaining their tenure. This unique program enables employees to explore other work opportunities, pursue education, or focus on personal goals without sacrificing benefits or career progression. Both the Overtime Savings and Seasonal Leave of Absence Programs are active nationwide, with plans for global expansion.

“We established the program as another way to support our team members so that they can be at their best in delivering for our customers,” Erwin added. “With this innovation, they can better plan and save their premium overtime pay for periods of the year when they might not work as many hours. Providing this capability and funding a company-paid match for a portion of the savings should motivate financial wellness and enable them to continue to build their career with Encore. Team member reactions tell us we are onto something,” he said.

With a launch just after Labor Day, usage of the UKG Wallet™ increased tenfold compared to the prior year’s period. he company offered an initial savings match, similar to a 401k program incentive match, to reward healthy financial behavior.

“Financial stress is not a problem isolated to our industry, it’s a stressor for nearly everyone,” said Charlie Young, chief human resources officer at Encore. “Nearly 70% of Americans are living paycheck to paycheck¹ and Americans spent $9B in bank overdraft fees in 2023. The more we can do to reduce stress for our team members, the more focused they can be on our customers. We are successful in the event production business because of the unique combination of our technical expertise, hospitality mindset and ability to work under pressure and through challenges. Seasonal fluctuations are part of our business, but with a partner like UKG that understands every industry has unique challenges, we were able to innovate to support those unique needs to make our team members’ lives better.”

Cody Browne, a technical lead with five years of service for Encore in Las Vegas, said he will try the Overtime Savings program, in addition to accruing and saving his Paid Time Off, for the slow season in December in Las Vegas. He hopes the vacation time, in addition to the saved overtime funds, will afford him an out-of-state vacation to visit family. “I love that Encore is creating new opportunities, that’s one of the reasons I am interested in growing my career here,” he said.

Olo Inc. will launch a new menu integration with ezCater, the #1 food tech platform for workplaces in the US, to simplify catering menu management.

As the newest addition to Olo and ezCater’s long-standing partnership, the integration will automate menu updates across both tech platforms, saving restaurants valuable time by reducing the need for manual updates.

“Our partnership with ezCater empowers restaurants to optimize their catering business and deliver outstanding guest experiences more efficiently,” said Noah Glass, Founder & CEO of Olo. “As restaurants look to drive profitable traffic, catering offers a high-potential growth channel, with significant basket sizes and likelihood for repeat business. We are proud of our collaboration with ezCater and look forward to developing solutions that simplify the complexities of catering and help restaurants grow their businesses.”

Automated menu updates via Olo Rails is the latest example of how ezCater and Olo enable restaurants to modernize their catering offerings. The integration will significantly reduce the manual effort required by restaurants to update their catering menus, lower the likelihood of human error, and reduce operational overhead. As a result, operators and guests will be able to count on a consistent experience, no matter where they are viewing a restaurant’s catering menu.

“Catering is a massive growth opportunity for restaurants, especially as more companies recognize the value food brings to their workplace,” said Kaushik Subramanian, Chief Revenue Officer, ezCater. “With the right technology, restaurants can capture as many of these valuable workplace orders as possible. Our integration with Olo enables restaurants to more reliably fulfill these orders and provide a great experience for our shared partners.”

According to ezCater’s 2024 Feeding the Workplace report, 53% of workplace food buyers plan to increase their spending on food this year. Olo and ezCater’s extended partnership comes at a critical time for operators seeking to capitalize on these trends.

“ezCater’s enhanced menu solution with Olo will revolutionize our catering process,” said Mike Nettles, Chief Technology Officer, Zaxby’s. “Automating menu updates will save our team time and effort, allowing us to focus on delivering exceptional guest experiences. This partnership will bring consistency to our menus and make our operations smoother and more efficient.”

This enhancement reflects ezCater and Olo’s commitment to pioneer technology solutions for the restaurant industry’s distinct needs. To learn more, visit https://www.ezcater.com/company/lp/olo-integration/.