Skift Global Trends Report: The Rise of the Millennial Traveler
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Skift Global Trends Report: The Rise of the Millennial Traveler

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With Millennials expected to soon surpass Boomers in overall travel spending, hotels, booking sites and destination marketing organizations are retooling their product, branding, business models......

With Millennials expected to soon surpass Boomers in overall travel spending, hotels, booking sites and destination marketing organizations are retooling their product, branding, business models and communication methods. Here’s what they should prepare for.

To purchase the full report go to: http://skift.com/travel-trends/the-rise-of-the-millennial-traveler/

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  • 1. The Rise of the Millennial Traveler Sponsored by SKIFT REPORT #9 2014 With Millennials expected to soon surpass Boomers in overall travel spending, hotels, booking sites and destination marketing organizations are retooling their product, branding, business models and communication methods. Here’s what they should prepare for. This material is protected by copyright. Unauthorized redistribution, including email forwarding, is a violation of federal law. Single-use copy only. If you require multiple copies, contact us at WWW.SKIFT.COM trends@skift.com.
  • 2. Subscribe to the Skift Trends Report Get the twice-monthly Skift Trends Report for the latest intelligence on the travel industry. Each edition in our new series of reports will brief you on a specific trend, providing insight into the current state of the market, the context around the trend, and where the industry is heading in the near future. After you subscribe, you will receive 24 reports direct to your inbox for an entire year. Reports are delivered as a downloadable PDF. Subscribers also receive access to our archive. For any comments or questions, email us: trends@skift.com. Subscribe and check previous reports at: Skift.com/travel-trends About the sponsor buuteeq creates easy-to-use, cloud-based digital marketing software that gives hoteliers complete control of their online content anytime, anywhere. Web, mobile, social—it’s all you. No more waiting for an agency to update your site. You’ll publish and manage content, view complete analytics, and integrate with your property’s existing reservation system, all while keeping pace with technology. Since its 2011 launch, buuteeq has helped more than 6,000 properties worldwide connect with guests directly, thereby saving time and money over traditional agencies. Learn more.
  • 3. The Rise of the Millennial Traveler SKIFT REPORT #9 2014 Table of contents Executive Summary 3 About Skift Skift is a travel intelligence company that Introduction 5 Millennial Trends 9 Marketing to a Generation That Can’t Easily Be Labeled 9 Articulating a Voice of a Generation 10 The Rise of User-Generated Content 12 Traveling with Millennials 13 Hotel Trends 15 The Kinship Economy 15 Booking Habits of Millennials 16 The Future of Mobility 17 Building a Brand for Next Gen Travelers 18 Millennial-Native Hospitality 19 Destination Trends 21 Becoming an Insider 21 Marketing a Digital Destination 22 Targeting What Motivates 24 The Neighborhood DMO 25 Pairing Conventions with High-Concept Tech 26 “Meetovation” Inspires Next Gen Planners 28 Key Strategies for Attracting Millennial Travelers 29 Further Reading 32 About Skift 33 7 services to professionals in travel and professional travelers, to help them make smart decisions about travel. Skift is the business of travel. Visit skift.com for more.
  • 4. The Rise of the Millennial Traveler SKIFT REPORT Executive summary Millennials: The Connected Generation Courtesy Aloft Hotels With Millennials/Generation Y expected to soon surpass Boomers in overall travel spending, hotels, booking sites and destination marketing organizations (DMOs) are retooling their product, branding, business models and communication methods. However, many established players in the travel and hospitality industries are simply applying cosmetic changes to outdated methodologies. This is due to an under-appreciation of the magnitude of changes looming in the future, and a lack of true understanding about the root factors underpinning the motivations of Millennial travelers. Presently, a large percentage of hotels and DMOs believe that technology and social media are the answer to engage Millennials. That’s true, but it’s only half of the answer. According to keynote speaker Jason Dorsey (The Gen Y Guy), Millennials are not necessarily technologically savvy; they’re technologically dependent. That dependence is merely a conduit through which to dream, research, share and experience travel. It is not the travel experience itself. The biggest travel trends today, especially for Millennials, revolve around personalization and connectivity. The successful travel pro- 3 #9 2014
  • 5. The Rise of the Millennial Traveler SKIFT vider in the future will incorporate technology to deliver the ultimate travel aspiration for Millennials: Highly personalized experiences shared within larger connected networks of like-minded travelers— both real and virtual. In other words, Millennials want more, and they’ve redefined “more.” They want the freedom to do what they want, when and how they want to, and they want to share those experiences with friends, family and colleagues when and how they want to. Chris Klauda, a VP at travel and hospitality market research company D. K. Shifflet & Associates, discussed this in the The New York Times last year. Describing the Millennial desire to connect online in hotel lobbies versus guest rooms, he said, “We coined the phrase ‘isolated togetherness.’“ Michael Tiedy, senior VP of brand design/innovation at Starwood Hotels, puts it even more succinctly: “Millennials like to be alone, together.” We call it the rise of independent social travel. 4 REPORT #9 2014