Adyen releases its 2023 Hospitality Report

Hospitality businesses that aren’t leveraging payments to tailor and inform the customer experience are falling behind.

Key findings include:

• Experiences are significant – Almost 2 out of 3 hotels worldwide (65 per cent) projected that they will eventually evolve into “experience centres” where guests can better engage with their brand and get more for their money.

• Guests want flexibility at every touchpoint – 55 per cent of North American guests abandoned their purchases and didn’t complete their reservations whenever they couldn’t pay how they wanted.

• Top payment methods in the US and Canada in 2023 were: Card schemes (51 per cent), digital wallets (51 per cent), and local payment methods (36 per cent).

• More than 70 per cent of North American hospitality businesses don’t offer payment options like self-checkout or mobile POS solutions.

• Payments offer insight into personalization – In 2023, half (50 per cent) of hospitality businesses in North America faced roadblocks when trying to understand guest needs and behaviour to offer better personalization.

• Among those surveyed, only 31 per cent of North American hospitality businesses currently have the tools to collect and analyze data across the company to help identify areas for improvement, and only 39 per cent are using payment data to understand guest needs and improve the customer experience.