Millennials account for 29% of restaurant revenues, survey finds
They also account for 28% of hotel earnings.
Millennials already account for 29% of restaurants' revenue, according to latest research from CMS.
Their study also discovered that hotels and restaurants "overestimate" the value millennials place on automated processes using apps and tablets.
"This generation still wants to place a food order or check out with a real person. 78% say they prefer the human touch throughout their whole dining experience. Robots beware," CMS' Thomas Page said.
Millennials are also responsible for 28% of hotel revenue, with hotels reportedly estimated to be investing over 9% of annual revenue on technology, equivalent to USD 1 trillion.
The survey, which aimed to assess the future of the hotel and restaurant sector, reached over 5,000 millennials in 18 countries, contrasted with the views of over 170 leaders in the said industry.
