Exploring Three Major Trends Driving The Hospitality Industry
The future of the hospitality industry is firmly linked with technology and its application on one side and active engagement with personalization on the other
The dynamism of the hospitality industry requires hotel organizations to invest in solutions that create personalized guest experiences and augment guest loyalty. The contemporary needs, desires of guests (authenticity of destination experiences, eco-conscious facilities, increasing demand for adventure) have led to the emergence of trends to improve guest relationships and stay competitive. The rapid advances in technology continue to revolutionize guests' preferences and habits in terms of choices and reservations
The Millennial Profile:
The "Guest" profiles are changing by the day, bringing in more millennials that experience these hotel services. Their demand for inclusion of technology at all service touch points is one of the major force in changing trends in the industry. This tech-savviness results in them opting to post online pictures, sharing the content of experiences and reviews digitally. Being empowered with more knowledge and social media, these new guests are compelling hotels' efforts to improve the quality of product and services within an experience. Constantly engaging with guests on social media platforms is the new pledge and forms a pre-requisite to positive relationships, loyalty and drives future bookings. Smart hoteliers are ensuring that websites are user-friendly, and updated, capitalize on technology (presence across various social media platforms) and deliver genuine and pro-active responses to retain customers/guests.
The Emergence of Parallel Industry:
Hotels exist in a shared economy of membership clubs, homestays, and emerging lifestyle brands. With new hospitality services like Airbnb, continuing to gain a major share in the segment; hotels are creating sub-brands to respond to the needs of customization and unique, meaningful and experiential. Guests now opt for 'dining' experiences beyond the hotel's food and beverage outlets. There is a growing emphasis on local varieties or indigenous produce as guests intend to explore the diversity of the region/destination. Hotels are recreating these through the masterclass sessions in restaurants or lobby areas, wine appreciation in the lounge or trails to organic farms and an experience of preparing organic meals, or destination specific events.
