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

learn more about Sagar Chitre

By Sagar Chitre

Shutterstock

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

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.

Being Aware:

Cultural learning and conscious living is the dictum of "greener' travellers. Majority of guests consider social responsibilities and community initiatives that the hotel organization is involved in and would serve as millennials will prefer to book reservations at hotels that engage in environmental or community responsible programmes. While hotels are determined to cater to personalized service and customized service encounters, they should do so in a manner that minimizes its impact on the environment and respects communities.

Sagar Chitre

Principal, ITM Institute of Hotel Management

Related Topics

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.

Business News

'This Made Me Physically Recoil From My Phone': Lingerie Brand Apologizes For 'Creepy' Ad Referencing Ryan Reynolds and Bras

Online lingerie retailer Harper Wilde is under fire for a bizarre sponsored post it has since pulled from Instagram.

Living

Invest in Yourself: 10 Things Every Working Woman Should Do This Year

When striving for success, it is easy to forget about your mental and physical health. But without health, you cannot fully succeed. Follow these ten lifestyle strategies for success in your personal and professional life.

Business News

This Worker Found Out Google Laid Her Off While Feeding Her 3-Week-Old Daughter

Jana Elfenbein was a recruiter at Google — and said she was on maternity leave when she found out she was part of the company's layoffs.

Leadership

Two Stanford Professors Explain How to Produce Hundreds of World-Changing Ideas In 1 Hour

Cramming everyone into a conference room to "spitball" is a disaster. But with some structure and a system, literally thousands of ideas are within reach.