Trends in hospitality fuelled by the sharing economy

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E V E RY O N E ’ S A H O T E L I E R .
W H AT T H E S H A R I N G E C O N O M Y H A S
TA U G H T U S A B O U T G U E S T N E E D S
TRENDSPOTTING
R A K H I R A J A N I .
I N N O VAT I O N C O N S U L TA N T.
RAKHI RAJANI

M E
Psychologist
Insight + Strategy + Innovation
Innovation ConsultantRakhi Rajani |

L E T ’ S TA L K …
RAKHI RAJANI

Big Data
Mobile Technology
Personalisation
Urban Innovation
Cultural Change
B I G S H I F T S …

Hospitality is a human skill
B U T …

Back to basics
S O …

How the sharing economy has
sparked trends that have highlighted
human needs and desires
A N D E X P L O R E …

…
RAKHI RAJANI

People powering the economy using inherent old world
values of trust, with technology as a conduit, not a
substitute, for sharing. Standards provide a mark of
assurance and quality but hosts provide hospitality &
intelligent service.
D E S T I N AT I O N H O S T
http://thenypost.files.wordpress.com/2014/03/cookappcover.jpg

Trust
By 2017, private travel accommodation estimated at $15.4 bn (EU)
Peer to peer platforms thrive on evidence
Tuck Analysis

R E - B I R T H I N T H E C L O U D
Re-inventing traditional systems and behaviours through
technology. Agility trumps legacy and being naturally
asset light means that companies can respond to shifts
within the travel industry faster.
http://www.execcoach.net/wp-content/uploads/2012/09/Cloud-Systems-for-Coaching.jpg

Agility
83% of businesses using the cloud
Developing new applications
CapGemini Stats from interviews with 460 late enterprises

P R E M I U M V S F U L L FAT L U X U RY
New hospitality propositions catering to the rising middle
class and professional elite who favour control &
experience. Traditional full service exclusivity is often
viewed as restrictive and overwhelming.
http://blog.isocket.com/wp-content/uploads/2012/12/Premium.jpg

Autonomy
1.2 billion middle class consumers in 2030
Emerging market majority
World Bank Stats

N E W L O YA LT Y
Points are not a reward for loyalty, they are a reward for
frequency. Loyalty must be quantified differently. Guests
want shareable moments. They want to take away a story
and leave behind a footprint.
http://farm9.staticflickr.com/8473/8125900939_d164990f7a_z.jpg

Shareability
8% of travellers stay at the same brand of hotels
Loyalty comes from being made to feel special
Deloitte study on loyalty 2013

N AV I G AT I N G T H E C L U T T E R
Personalisation could be a red herring. Curation is more
compelling as travellers look to experts and trusted peers
for recommendations to reduce choice.
http://www.myfriendshouse.co.uk/wp-content/uploads/2013/02/guestbook7-e1361215393788.jpg

Guidance
50% of customers say they want personalisation
Most can’t tell you what that means
Oracle 2013 retal survey

R I S E O F T H E T R AV E L P R E N E U R
Work can happen anywhere, data is accessible anywhere
and the notion of home is changing. Entrepreneurs don’t
need a single base to work from. Many are women with
lifestyle businesses. Travel is not a treat, but the norm.
http://4.bp.blogspot.com/-PNWDEOHx8js/Tqcy0HUmC9I/AAAAAAAAG7w/AJLVMwiUsUA/s1600/wanderlust.jpg

Wanderlust
The number of $10-million-plus women-owned firms increased by 57%
Being nomadic is a scaleable business advantage
Report from womenable

D E S I G N V S D E S T I N AT I O N
A desire to see and experience design vs destination. A
focus on great photography means that hosts are paying
more attention to the design elements to showcase their
personal taste and design as a differentiating factor. It’s
sparking more movement in the interior design industry.
http://ww3.hdnux.com/photos/25/22/12/5579418/7/628x471.jpg

Curiosity
People are inherently nosey
They draw inspiration from others
sunshine.co.uk report

M I N D S E T V S G E N E R AT I O N
What’s become associated with the millennial generation
is a mindset that is shared more widely. Exploring new
things, adventure, mobility, mobile access, is a millennial
mindset not a generational nuance.
http://www.pewresearch.org/quiz/how-millennial-are-you/
http://cdn.sdl.tridion.sdlproducts.com/cxc/Images/Optimizing-Marketing-Millennial-Mindset-preview_tcm73-56025.jpg?v=1

Experimentation
Boomers spend $157 billion on travel every year
Bucket lists are being checked
Forbes research

C R O S S G E N E R AT I O N A L T R AV E L
The extended family is back in vogue. Gen Y is struggling to
make ends meet and Boomers are looking for connection.
http://thumbs.dreamstime.com/z/extended-family-watching-tv-sofa-32509527.jpg

Family time
53% of parents with kids under 15 take grandparents on holidays
Grandparents are often funding family holidays
sunshine.co.uk report

L E AV I N G Y O U W I T H
3 Q U E S T I O N S T O P O N D E R
RAKHI RAJANI

How would you create loyalty through
moments of delight?
28Innovation ConsultantRakhi Rajani |
https://www.iconfinder.com

How might you merge big data with ‘human-ness’ to create
real connection vs computer generated personalisation?

What new types of travellers are you seeing
for whom you can create a differentiated customer journey?

T H A N K Y O U
TRENDSPOTTING
R A K H I R A J A N I .
I N N O VAT I O N C O N S U L TA N T.
R A K H I R A J A N I @ M A C . C O M | @ R A K H I
RAKHI RAJANI

Trends in hospitality fuelled by the sharing economy

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Trends in hospitality fuelled by the sharing economy