One of the most invigorating parts of being a startup is the need to do a Captain Kirk and “go out there” and find stuff that is useful. I have noticed two things, (1) when you need something, you tend to see possibilities for that problem everywhere, and (2) when you have something to solve, the data you read tends to be retained a lot better. I guess necessity is the mother of invention after all.
We know what F3TCH is and what it will do. On the surface, F3TCH looks like a cute app, in reality, we address over 3.2 billion travelers per year (or plan to). More importantly, F3TCH is the final piece that hotels need to truly integrate guests to their programs, services, and amenities during their stay. The problem in the future will be privacy- data privacy. That’s not hard to see but hard to solve.
F3TCH will itself have minimal data available to it, as people do need to sign up for the app, but we interface with powerful systems. F3TCH registers to the hotel system using the hotel infrastructure so in actuality, the PBX (communications platform) and PMS (Property Management System) have the data- e.g. credit card, etc. PBXs are beginning to have AIs attached to them, and hotels use and love their data. Other technologies that use powerful algorithms, then analyze all of that guest data. There is a great value to the guest and the hotel in this process. There is nothing wrong with using data, as long as it is used properly. That’s the rub today.
Guests want to be catered to, but they do not want their data for sale. Simple. Hotels, however, need data to fine-tune their services to enhance the “holy grail” of the hospitality industry, otherwise known as “the guest experience”. F3TCH will be a data collector, or a connector, in the overall scheme of things. We help connect the guest and therefore we feed data to the PMS and the PBX. We do not retain that data, it’s simply a by-product of what we do.
As we look to learn more about this and see what we can do, even if our role is small and indirect, we have found a new startup that shows a lot of promise. Now to the fun part, we will contact them and explore to see if, and how their solution could be applied to our solution, or at the very least, initiate a relationship that may be important in the future. Pretty neat.