WHLA Future Lodging Trends and Emerging Technologies Robert K Cole

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Closing keynote presentation by Robert Cole October 26, 2010 at the Wisconsin Hotel & Lodging Association Annual Conference & Tradeshow at Hotel Sierra / KI Convention Center, Green Bay, WI.

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WHLA Future Lodging Trends and Emerging Technologies Robert K Cole

  1. 1. Future Lodging Trends & Emerging Technologies Wisconsin Hotel & Lodging Association Conference & Tradeshow Green Bay, Wisconsin October 26, 2010 Robert Cole ● RockCheetah
  2. 2. Session Overview • What’s Changing? • Web 1.0 → Web 2.0 → Web 3.0 • Four Traveler Mandates • Five New P’s of Marketing • Six Business Impacts • Seven Phases of Travel October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 1
  3. 3. Everything is Changing • Business • Marketing • Technology October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 2 Photo: ஆ ன ந் த ம் / a n a n d h a m (flickr)
  4. 4. Business is Changing – Occupancy October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 3 51.0% 56.0% 61.0% 66.0% 71.0% 76.0% 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 OccupancyPercentage Week US Hotel Occupancy Comparison Weeks 24-42 | 2006 through 2010 2010 2009 2008 2007 2006 Data: Smith Travel Research Analysis: RockCheetah LLC
  5. 5. Business is Changing – Avg. Daily Rate October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 4 $91.00 $96.00 $101.00 $106.00 $111.00 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 AverageDailyRate Week US Hotel Average Rate Comparison Weeks 24-42 | 2006 through 2010 2010 2009 2008 2007 2006 Data: Smith Travel Research Analysis: RockCheetah LLC
  6. 6. Business is Changing – RevPAR October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 5 $49.00 $54.00 $59.00 $64.00 $69.00 $74.00 $79.00 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 RevenuePerAvailableRoom Week US Hotel RevPAR Comparison Weeks 24-42 | 2006 through 2010 2010 2009 2008 2007 2006 Data: Smith Travel Research Analysis: RockCheetah LLC
  7. 7. Marketing is Changing - Relevance • People Don’t Like Advertising October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 6
  8. 8. Marketing is Changing - Quantity October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 7
  9. 9. Technology is Changing October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 8
  10. 10. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 9 New Traveler Mandates • 1. Relevance • 2. Mobility • 3. Personalization • 4. Community Photo: Sprengben (flickr)
  11. 11. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 10 1. Relevance Deep Search vs. The Splinternet Photo: LuluP (flickr)
  12. 12. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 11 Relevance - Deep Search Photo: g-na (flickr) + - $700 Million =
  13. 13. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 12 Google using Microformats & RDFa • Associate Reviews with Hotels • Specify Image Licensing • Drive Context-sensitive Ads Relevance – The Semantic Web Making Sense of Unstructured Data Photo: Mr. Physics (flickr)
  14. 14. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 13 Relevance – Context Sensitivity Video: Dapper.com
  15. 15. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 14 The Splinternet: Walled Gardens Photo: SFB579 (flickr) • Platform Challenges
  16. 16. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 15 The Splinternet: Walled Gardens • Advertising Challenges
  17. 17. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 16 2. Mobility Real-Time: Proximity: Anytime Anywhere Photo: atzu (flickr)
  18. 18. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 17 Why Mobile Can Not Be Ignored Smartphone use is on the rise. Mobile web adoption is ramping up 8x faster than Internet in the mid-90s. In the Travel vertical, purchase intent on Mobile ads is 5x higher than on desktop ads. Mobile Travel bookings are projected to grow 700% in 2 years. 0 500 1000 1500 2000 Mobile travel searches $20M 2008 $160M 2010 Projection Data Sources: : Forrester, 2009. Google Internal Data, February 2010. InsightExpress, February 2010. PhoCusWright, January 2010
  19. 19. Apple iTravel: Works solely within Apple Hardware & Software Ecosystem · Network · Camera · GPS · RFID / NFC · Phone October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 18 Photo: gwgs (flickr) Mobility – Anytime / Anywhere
  20. 20. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 19 Photo: gwgs (flickr) Mobility – Anytime / Anywhere
  21. 21. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 20 Photo: gwgs (flickr) Mobility – Anytime / Anywhere
  22. 22. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 21 Photo: gwgs (flickr) Mobility – Anytime / Anywhere
  23. 23. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 22 Photo: gwgs (flickr) Mobility – Anytime / Anywhere
  24. 24. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 23 Photo: gwgs (flickr) Mobility – Anytime / Anywhere
  25. 25. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 24 Photo: gwgs (flickr) Mobility – Anytime / Anywhere
  26. 26. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 25 Photo: gwgs (flickr) Mobility – Anytime / Anywhere
  27. 27. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 26 3. Personalization • Customization • Personas Photo: Sergey Galyonkin (flickr)
  28. 28. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 27 Customization – Ask for Anything Video: Google Android Voice Actions (YouTube)
  29. 29. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 28 Personalization - Personas Photo: Greything (flickr) AssociationSMERF Wholesale Leisure Group Package Corporate Transient Convention
  30. 30. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 29 4. Community Social Computing versus Privacy Photo: ►Voj► (flickr)
  31. 31. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 30 Community – Social Computing If You Want the Job Done Right… Get Help. Experts ● Friends ● Groups with Common Goals Photo: 3[3] (flickr)
  32. 32. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 31 Community - Privacy Photo: laverrue (flickr) • Trustwave 2010 Global Security Report – Hotels Prime Target for Hackers – Breaches Involving Hotels: 38% – Breaches Involved Credit Card Numbers: 98% – Average Days Between Breach & Detection: 156 – Many Franchisees – Only PCI Level 4 (Self Assessment) • Insecure Passwords – 8 character Password Cracked – Under 2 Hours – Use of Identical Passwords Across Multiple Sites
  33. 33. New 5 P’s of Marketing • Paradox – Opportunity to Exploit Paradox and Create New Category • Perspective – What Consumer Need is Satisfied? / How Differentiated? • Paradigm – From Product (Features) to Brand (Who & What You Are) • Persuasion – Speaker Credibility/Message Content/Audience Involvement • Passion – Must Have Passion for What You Do Source: Tom Patty, President - TBWA/Chiat Day 1997 October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 32 Photo: pfala (flickr)
  34. 34. Only Six Possible Business Impacts • Improve Brand Engagement • Attract Customers • Retain Customers • Grow Revenues • Increase Margins • Reduce Expenses If Any Strategy Does Not Target One of These… Stop. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 33 Photo: Mr. T in DC (flickr)
  35. 35. October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 34 Photo: joguldi (flickr)
  36. 36. Seven Steps – Inspiration October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 35 New Media • Travel Writers • Journalists • Bloggers • Social Graph • Influencers
  37. 37. Seven Steps – Research October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 36 Semantic Travel Search Sites
  38. 38. Seven Steps – Planning October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 37
  39. 39. Seven Steps – Validation October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 38
  40. 40. Seven Steps – Booking October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 39 StayHip Mobile App by Mobiata for TravelClick
  41. 41. Seven Steps – Travel October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 40 Mobile Phone for Key Entry • Guests Register Online • No Stop at Front Desk • Supports All Cell Phones • Uses Existing Locks • Cards Keys Still Work • Code Change – 12 Seconds • More Secure than Cards • Support for Future NFC Uses Unique Sound Patterns
  42. 42. Seven Steps – Sharing October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 41 • Images • Videos • Property/Destination
  43. 43. Where Do I Start? What Should I Do? October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 42
  44. 44. Everything Is More Difficult • Challenging Business Environment • New Search/Interface/Technologies • More Platforms & Walled Garden Sites • Must Be Relevant/Mobile/Personal/Social • Market Segmentation is Getting Personal • Marketing Must Differentiate Product Offering • Multiple Methods to Impact Business • Multiple Phases of Travel Process to Consider October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 43 Photo: Sam Cockman (flickr)
  45. 45. How to Manage the Future • Unyielding Focus on Customer Needs – Guests Want Honesty / Transparency / Respect • Strategic Business Objectives Define Actions – Avoid Activities if Strategic Benefit is Missing • Marketing Must Break Through Clutter – Paradox/Perspective/Paradigm/Persuasion/Passion • Technology is Only a Tool to Support Strategy – Get Past the Hype - Select the Right Tool for the Job • Fix Guest Experience Before Using Social Media – Communicate on Guests’ Preferred Terms & Channels • Target Personas for Travel Itinerary & Travel Process Step – Easier Task to Target Family Leisure Travelers Planning Phase October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 44
  46. 46. Thank You for Your Attention Questions? Copies of the Presentation? Comments? Robert Cole mail: robert@rockcheetah.com phone: +1.262.309.9560 skype: robertkcole twitter: @robertkcole web: www.rockcheetah.com/blog/ October 26, 2010 ● Green Bay, WI WH&LA ● Future Lodging Trends & Emerging Technologies Robert Cole ● RockCheetah | 45

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