Strategic Innovation for Financial and Investment Management in the Digital-Age Hotel Business
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Abstract
This synthesis-based academic article, aims to explain key concepts and propose a strategic framework for financial and investment management in hotel businesses in response to the transition toward the digital economy. This article employs an integrative literature review approach and synthesizes the literature through thematic analysis. The conceptual foundations include financial innovation, the resource-based view, digital transformation theory and dynamic capabilities, portfolio theory and capital budgeting, financial innovation in the hotel business, and investment management strategies for hotel businesses. The synthesis indicates that hotel businesses in the digital age need to integrate financial technology, revenue management systems, financial analytics dashboards, digital payment systems, artificial intelligence, and big data analytics to support cost control, cash flow management, revenue forecasting, and data-driven investment decision-making. However, digital transformation should also consider limitations related to cost, legacy systems, data quality, personnel readiness, data security, and the suitability of technology for different hotel sizes. This article proposes the Digital Financial Flywheel for Hotels model, consisting of five components: 1) real-time cash flow management, 2) technology-enabled investment portfolio management, 3) financial data governance and security, 4) AI-driven revenue forecasting, and 5) ESG integration into hotel financial systems. The proposed model serves as a conceptual framework for enhancing financial efficiency, investment management, and competitiveness in hotel businesses. Nevertheless, it should be further tested through empirical research in future studies.
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Articles published in the Journal of Business Administration and Innovation Rajamangala University of Technology Phra Nakhon contains information and content. The article's single author is accountable for it. In all instances, the journal's editors are not accountable for any losses incurred.
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