Question :
There are following questions which fulfil the requirement of the brief are given below:
- Recognise a research topic& explain the desired result.
- Critically analyse the relevant theory & detail a synthesis among theory and practice.
- Conduct and follow the appropriate methods of data gathering to specific research purpose.
Answer :
Proposed Research Project Topic
The potential effects of mobile payment platform on hospitality sector development: HILTON London.
Research Aim and Objectives
Research Aim:
- To identify the potential effects of mobile payment platform on development of hospitality sector". A study on the Hotel Management of HILTON London.
- Research Objectives:
- To understand different platform of mobile payment within the hospitality sector.
- To determine effect of mobile payment platform on sales of the Hilton London.
- To identify ways through which development of hospitality sector can be raised.
Research Questions
- What are the different platforms available for the mobile payment?
- What are the impact of the mobile payment platform on the sales of the Hilton London?
- What can be the ways with which the sales of the hospitality sector can be increased?
Research Rationale
The significant of research rationale is to identify potential effects of mobile payment platforms on development of hospitality sector. There are various ways of mobile payment that assist in development of hospitality sector. Such payment method has positive as well as negative impact or effect to development of hospitality sector. It is very important to use such payment platforms in proper manner so that hospitality sector can be developed in an effective and efficient manner. Before introduction of various mobile payment platforms the customers use to pay through cash due to which they need to carry it with them. While with the introduction of such payment platform, it has become very convenient for the customers to make the payments as they just have to carry the mobile. Also this reduces the requirement of maintaining the records for the hospitality companies.
Review of key sources of Literature
Different platform of mobile payment:
According to view of Sig Ueland, 2019, there are various innovative mobile payment apps that provide consumers with new experience or ways to exchange money with peers, using alternative currencies, purchase products, earning rewards, managing expenditure and other. Few innovative mobile payment apps such as digital wallets, cryptocurrency apps, mobile commerce apps and peer to peer payment platforms. Hilton London. has used several platforms of mobile payment such as: Google Pay- It is regarded as simple and fast way to pay through online and in physical stores (12 Innovative Mobile Payment Apps, 2019). This send peer to peer feature which is included in Google Pay which has replaced Google wallet service.
With the help of phone number or email address, money can be send. When payment is made at stores then Google pay shares an encrypted number with merchant. The respective organization uses such platform for mobile payments.
Cash App- It is also an easy way for sending, receiving, requesting and exchanging money. When payment is received it is kept in balance to withdraw or spend with cash card or linking bank account. With help of cash boost, instant cash back is received every time when cash card is used. It is easy platform of mobile payment that is used by Hilton London. for their guests or users in effective manner.
Jaxx- This is called crypto currency wallet which is available for downloading on eight platforms. It is used to hold trade and control variety of block chain-based crypto currency which includes Bitcoin, Bitcoin Cash, Zcash and so on. It carries free customer support for their users. With such platform, payment is made in effective and efficient manner.
Also check out: Factors impacting Hospitality Industry- Hilton Hotel
Determine effect of mobile payment platform on development of Hilton Plc
As per view of Aimie Neighbour, 2019, mobile payment platform has effect on development of hospitality industry. The different aspects are as follows:
Future of Mobile of Payment- The Pizzanet is first restaurant which has used online payment in 1994. The $100 was spent online that is regarded as drop in ocean as compared to $1,316,000,000,000 we spend today (The Future Of Mobile Payments In The Hospitality Industry, 2019). Online payment is not a big deal nowadays. The world cannot be imaged with online technology. The respective organisation has to use online payment to make work easier and simple which has impacted hospitality sector in positive way.
Playing Catch Up- The smart phone and technology has provide ability to perform things which has not done before as it has blurred line from physical to digital. Payment industry was not prepared for online payments. System of inputting 16 digit card number was never ideal and solved problems properly. It is important to bring changes in mobile payment operations to make work easier and simple.
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Identify ways through which development of hospitality sector can be raised
As per opinion of John Attala, 2019, smart technology has changed business and their activities and operations in an effective and efficient manner. The various ways which has reshaped hotel industry in near future are described below:
Smart Energy Management- The occupancy sensors and smart thermostats monitor and respond to fluctuate in occupancy. These smart energy management system use sophisticated machine learning algorithms to analyse future aspects in proper manner. These systems reduce hotel energy cost up to 20% and generating fastest paybacks period in industry (10 ways smart technology is reshaping the hotel industry, 2019). It assist in increasing resale value of hotel. Hilton Plc can use such technology for their business so that work can be performed in proper manner.
Smart Guest Experiences- Each and every hotel requires guest to operate their business in an effective and efficient manner. It is very important to provide good experience to their guests in appropriate manner. The smart technology assist respective organisation to predict and personalised several guests based upon previous visits and aggregated guest data.
Proposed Research Strategy
The research strategy used for report is primary and secondary data. Under primary research, questionnaire has been prepared to collect data and information and secondary data are collected from literature reviews such as books, google scholar, magazines and so on.
The intended outcomes of project are as follows:
- Different platform of mobile payment are used such as google pay, cash pay, jaxx, Facebook messengers and so on.
- There is positive as well as negative impact on development of hospitality sector.
- With rise in development of hospitality sector there are various ways such as smart energy management, guest experience and so on are used for positive outcomes.
References
- Cobanoglu, C. and et. al., 2015. Are consumers ready for mobile payment? An examination of consumer acceptance of mobile payment technology in restaurant industry. Hospitality Review. 31(4). p.6.
- Kandampully, J., Zhang, T. and Bilgihan, A., 2015. Customer loyalty: a review and future directions with a special focus on the hospitality industry. International Journal of Contemporary Hospitality Management. 27(3). pp.379-414.
- Kriechbaumer, F. and Christodoulidou, N., 2014. SME website implementation factors in the hospitality industry: Groundwork for a digital marketing roadmap. Worldwide Hospitality and Tourism Themes. 6(4). pp.328-351.
- Liu, J., Kauffman, R. J. and Ma, D., 2015. Competition, cooperation, and regulation: Understanding the evolution of the mobile payments technology ecosystem. Electronic Commerce Research and Applications. 14(5). pp.372-391.
- Parker, G. G. and et. al., 2016. Platform revolution: how networked markets are transforming the economyand how to make them work for you. WW Norton & Company.
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