October 1, 2014

LG's ‘Five Star and Beyond’ Seminar Sets TCO Standards Soaring

LG's Five Star and Beyond Seminar

LG Adds Value for Hoteliers in Hosting Regional Hospitality Seminar Aimed at Fostering reduced TCO Strategies & Innovations in the Hospitality Sector

Dubai, UAE, May 14th, 2012: Today LG’s ‘Five Star and Beyond’ hospitality seminar provided public and private entities with the ideal platform to come together and share insights on hospitality technology innovations which can be integrated into hotels to reduce total cost of ownership (TCO) and enhance environmental corporate responsibility and well as a hotel’s services and standards.

According to recent figures from a worldwide economic impact report on the industry, produced for the World Travel and Tourism Council (WTTC), travel and tourism growth in the UAE will rise to almost 15 per cent of the country’s GDP within 10 years and be worth Dh277.8 billion (US$75.62bn) annually. The impact of TCO holds a significant importance to the hospitality industry more so than ever; a TCO analysis allows hoteliers and consumers alike to evaluate all costs, direct and indirect, incurred throughout the life-cycle of an asset, including acquisition and procurement, operations and maintenance, and end-of-life management.

With LG’s delivery of innovative hospitality solutions incorporating a true combination of cost effectiveness and guest satisfaction, largely explaining why LG is a technology leader in the hotel field. Thus the Five Star and Beyond seminar was born out of LG’s determination to identify product innovations targeting the hotel solutions market and the UAE’s flourishing hospitality industry.

With an impressive panel of experts and key local business heads, the half-day conference resulted in an insightful understanding on the innovations, principles and case studies exhibiting reduced TCO technology solutions in the hospitality sector. An ideal platform was provided though prolific speakers from Department of Tourism and Commerce Marketing (DTCM), Jones Lang LaSalle, Etisalat, The Emirates Academy of Hospitality Management, AVAYA and LG to dissect regional perspectives on the UAE’s hotel and tourism performance, segments, trends and growth, industry case studies, overviews and simple cost effective solutions in design, technology, E-hospitality and entertainment innovations. Also factored into the seminar were B2B and revenue generation business models, which focused on the importance of TCO, sustainability, and how hotels can hotels can ‘go green’. As a result, Five Star and Beyond received an attendance from over 250 high level attendees ranging from industry and thought leaders, government entities, business conglomerates, environmental specialists, blue chip companies and academia, among others.

Commenting at the seminar Mr. D. Y. Kim, President of LG Electronics Gulf FZE said “We have witnessed the UAE’s tourism industry grow rapidly, bringing along with it an increased demand for new technology solutions. By adopting innovative environment-friendly technology solutions as opposed to traditional solutions, hotels can both reduce their ecological footprint and affirm their commitment to the environment.”

LG's Five Star and Beyond Seminar

About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 93,000 people working in over 120 operations around the world. With 2010 global sales of KRW 55.8 trillion (USD 48.2 billion), LG comprises four business units – Home Entertainment, Mobile Communications, Home Appliance, and Air Conditioning & Energy Solutions. LG is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. LG has signed a long-term agreement to become both a Global Partner and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.

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