How to solve labor shortages through technology

With travel demand accelerating rapidly, the hospitality industry is experiencing a new major challenge: labor shortages resulting in sharply rising labor cost in the U.S., which consumed as much as 87% of RevPAR (CBRE) in Q1, 2021. Total labor costs in the U.S, as percentage of total hotel revenue, jumped from 37.4% for the period April 2019 - March 2020 to 60.5% between April 2020 and March 2021 (HotStats). In the U.S. alone, hotels need to hire 600,000 more employees by summer to be able to meet demand (BIS.gov). As of mid-May, there are 171,800 open positions on LinkedIn for…