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Box Jelly Founder Models New It Business for Hotels

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Technology has been rapidly increasing and it seems as if Hawaii's hotels are still outdated. Tony Standford acknowledges that such technology is essential in our economy: "It's absolutely crucial to our economy. We are competing with world-class destinations in Asia who won't hesitate to spend money on technology that will improve the visitors' experience." (qtd. In Staradvertiser). Standford came up with the idea to provide a managed information technology service to local hotels after a meet with a Waikiki hotel manager. The hotel manager explained that their PBX (Telephone and network system) had reached the end of its life cycle and would cost a substantial amount of money to renew and still remain out of date. With this opportunity in mind, Standford created a new modern IT company. His objective is to upgrade hotel systems by providing state-of-the art technology products such as wireless internet, Netflix, and tablets in every room to replace the telephones. This system has the ability to store all contents and apps in the cloud, allowing software updates to the system to be remotely handled through the cloud. The use of this technological advancement in hotels will greatly reduce expenses by eliminating the cost of maintaining hotel servers. When relating this article to the theory of supply and demand, results lead to a simultaneous occurrence of events. Technological advancements will produce a positive supply shock as well as a Positive demand shock. If Hotels switch to a modern IT, they can obtain a new and more efficient technology service. The cost of the network and maintenance fees will be eliminated, thereby decreasing the production costs and increasing productivity. At the initial price, the quantity supplied will increase, while the quantity demanded will remain unchanged causing a surplus at the initial equilibrium price. A downward

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