4 Trends that Impact the Hospitality Industry Today
Summer is just around the corner. It is a time when travelers pack their luggage and prepare to embark on unforgettable vacation experiences.
For hotels and resorts, it is vital to understand that a travelers “unforgettable vacation experience” does not start when the traveler arrives at their property. It starts at the moment the guest begins their vacation planning, continues as they book their reservation, and extends through all interactions and follow up communications… arrival to departure.
Today more than ever, it is critical to understand and effectively use all of the tools available to engage your guests. By using these tools, you can target each guest with the customized communications before, during and after their stay that will positively impact the vacation experience of your hotel guests. And a happy guest results in incremental gains in the revenue of the property.
Changing generations of travelers are changing trends in the hospitality industry.
Let’s look at four trends impacting the hospitality industry today.
Catering to the Millennial Generation Mindset:
The millennial generation’s love for the sharing economy is contributing to the constantly rising popularity of rental alternatives through such websites as HomeAway, VRBO and Airbnb vacation rental market. Because millennials would rather spend their money on experiences rather than objects, investing in adventure travel and unique, immersive cultural experiences is a high priority for them. Hotels and Resorts are noticing and offer various activities such as heli-skiing, zip-lines, white-water rafting, and rock climbing.
Tech Focus Experience:
The trends of smart homes have propelled tech-savvy guests to expect rooms to be equipped with some of these features such as voice assistants, motorized curtains, automatic lighting, noise-canceling functions, and lightning-fast high-speed internet. Even the beds are getting smarter to provide guests with the most comfortable sleep experience possible. Facial recognition systems integrated into guest contact positions can allow every staff member to greet guests by name and see relevant information about that guest. This lets the staff member maximize the personalization of encounters.
Booming International Travel:
Many international travelers who go to different countries, want to meet new people and experience the local culture and cuisine. Since competition among the airlines has risen, many airline services are offering the best flight fares and are making it easier for travelers to travel anywhere at cost effective prices. Several emerging markets have seen their GDP increase at a rapid pace, thereby enabling their citizens to travel the world. Customers from South Korea, China, India, and others now constitute a large body of potential travelers.
Increased Emphasis on Health and Wellness:
Wellness tourism is currently estimated to reach $919 billion in revenue by 2022 (Hospitality Report). Hotels and resorts are noticing this trend from travelers who are seeking properties that cater to wellness experiences such as yoga retreats, world class health spas, private saunas, healthy food and drink options, and much more.
CONCLUSION: By preparing for today’s top trends, hotels and resorts can ensure an unforgettable guest experience for the entire family this summer that will lead to increased overall guest satisfaction and thereby yielding improved sales.
Cleber Guzman has a background in the hospitality industry having managed operational areas over several years. Mr. Guzman holds B.S. degrees in Business and MIS from Florida International University. Currently, he is working with SPI Software’s Client Solution Team who help support SPI’s global client based in Miami, FL.