Get All Access for $5/mo

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

By Sagar Chitre

Opinions expressed by Entrepreneur contributors are their own.

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

Shutterstock

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

Marketing

How Much Did That New Customer Cost You?

Determine your marketing plan's effectiveness by analyzing how much you're spending to gain just one client.

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.

Business News

New Southwest Airlines Major Investor Wants to Force Out CEO, Slams Company's 'Stubborn Unwillingness to Evolve'

Elliot Investment Management announced a $1.9 billion stake in the Dallas-based Southwest Airlines on Monday and is urging shareholders to vote for new leadership.

Social Media

The Next Big Thing on the Web: Sites Tailored for You

Dynamic website personalization is a powerful tool that can boost business.

Business News

Apple's AI Has a Catch — And It Could Help Boost Sales

Not every iPhone owner will get to use the new Apple Intelligence.

Business News

Elon Musk Threatens to Ban Employees from Using Apple Products, Says Will Lock Devices in 'Cages'

The Tesla founder sounded off on X following Apple's 2024 Worldwide Developer Conference on Monday.