The complexity of decision-making processes and IoT adoption in accommodation SMEs

Abstract

The current competitive scenario is fast-moving toward an integration of sophisticated technological innovations, i.e. smart solutions for hospitality, in particular the accommodation industry. Internet of Things (IoT) technologies are able to connect and let communicate different devices to craft a personalized customer experience. Given the undeniable impact for the hospitality sector, the decisions about adopting smart solutions are not always linear: benefits and limitations co-exist and need to be weighed against each other. By adopting fsQCA, this paper compares several decision-making factors that may influence the willingness to adopt IoT, surveying owners/managers in the Greek accommodation industry. Results show four types of decision-making: (i) rational, a weighted evaluation of risks and opportunities; (ii) enthusiast, mostly highlighting benefits to gain a competitive advantage; (iii) cautious, emphasizing risks and barriers to innovate; and (iv) futurist, a consideration of future technological necessities related to the increasing digitalization.