different trends which will futurize the hospitality industry

1. FUTURE TRENDS IN
HOSPITALITY INDUSTRY
PRESENTED BY:
MD. LARAIB AHSAN

2. Contents
• Introduction
• The Major Future Trends
• Conclusion

3. INTRODUCTION
• For the longest time, the hospitality industry has been this stable, undisturbed
market where progress is steady and revenue is pouring in consistently, year in and
year out. Big names keep on getting bigger, widening their breadth, tightening their
hold on the market.
• And then Airbnb happened. Airbnb is a peer-to-peer accommodation marketplace
connecting hosts — vendors of rooms or accommodations — and travelers via its
website. It doesn’t own any real property but earns through processing fees. The
simple business model made common people rent out their properties that would
otherwise go unused. A couple of years after its inception, it more than doubled its
clients and increased its market capital several folds. No hotel chain can claim the
same level of progress when it was starting up.

4. Contd….
• Needless to say, it caused a stir within the hospitality industry.It might even
have shaken up a few organizations which were more passive than proactive
in their business approach.
• But this was more than five years ago. Now, the “traditional organizations” in
hospitality industry are fully aware of the threats of modernization and
technology and the demands of the modern client. But the general attitude
towards this shouldn’t stop with being just aware. What they need to do is
identify the trends moving forward and make sure all the boxes listed below
are checked.

5. The Major Future Trends
• Priority on Millennials
• Capitalize on Tech
• More Emphasis on Health and Well-being
• Green Living
• Word of “mouth” Promotion

6. Priority on Millennials
• Millennial. It’s a word that is being thrown around very often these days. Apparently, this
demographic has a ton of influence on a lot of things, and that includes the travel and
hospitality industries. According to study by the Cornell Center for Hospitality Research,
millennials are expected to represent 50% of all travelers to the USA by the year 2025. And
the challenge? Millennial travelers don’t want the traditional travel experience. There’s
actually more to those backpacking, camera-toting, social-media savvy kids you sat beside
with on your flight from Singapore to California. Just when you thought they just travel for
the Instagram-worthy photos, you realize that they actually want to learn something more
profound and meaningful from their travels.
• According to www.ehotelier.com, the Millennial traveller, already makes up over one
third of the world’s hotel guests, with predictions that they will reach over 50 per
cent by 2020.

7. Priority on Millennials
Contd….
• Companies need to be aware of this trend and craft a strategy based on these
demographic’s habits and traits — they’re young and enthusiastic and
spontaneous and most that have substantial savings take advantage of the
cheaper travel and accommodation rates. That’s why it’s not unusual for even
high-end hotels to incorporate excursions that give guests insight about the
locale’s culture and traditions, cuisine, and even arts and crafts. Hotels
impress them hassle-free transactions and ultramodern amenities, all at
reasonable prices. In return, expect satisfied customers to rave about it on
their seven social media accounts.

8. Capitalize on Tech
• Being tech-savvy is no longer a monopoly of the millennials. This day and
age when even your granny plays mahjong on her iPad, expect the majority
of guests to be self-sufficient, tech-savvy travelers who’d rather use their
mobile phones to transact business with a hotel or rate it via an app.
• One word: user-friendly.
• Because more people use their smartphones than their desktops these days,
hotels need to guarantee that their website is user-friendly, up-to-date, and
whatever they’re offering online is what it is in reality.

9. Capitalize on Tech
Contd….
• Mobile devices are transforming the hotel check-in process. While the
majority still use keycards, there are some hotel chains that use smartphones
to unlock a hotel room door. Even some staff are equipped with iPads to
facilitate transactions with guests. If it makes you wonder whether front desk
staff are still needed in the near future, you’re not alone. The hotel industry
should embrace mobile technologies and innovative, streamlined check-in
procedures in the near future.

10. More Emphasis on Health and Well-being
• It’s nice to know that the technology which allows us to make simple things become
even more simple (read: makes us lazy and fat and sick) is also the technology that
tell us how many kilo-calories we should burn to offset that double cheeseburger
and 24-ounce soda you just downed a while ago. Case in point: instead of bending
over to pick up the remote control, we can use our phones. The same phone tells us
a myriad of other things about our health and fitness and general well-being.
Indeed, just as the food we eat are getting more and more unhealthy, the human
race is actually getting more and more health conscious.
• Hotels should capitalize on this trend. Guests today are so health-conscious they
sometimes choose hotels based on their health and fitness amenities, pools and spas.

11. More Emphasis on Health and Well-being
• It’s nice to know that the technology which allows us to make simple things become even more
simple (read: makes us lazy and fat and sick) is also the technology that tell us how many kilo-
calories we should burn to offset that double cheeseburger and 24-ounce soda you just downed a
while ago. Case in point: instead of bending over to pick up the remote control, we can use our
phones. The same phone tells us a myriad of other things about our health and fitness and
general well-being. Indeed, just as the food we eat are getting more and more unhealthy, the
human race is actually getting more and more health conscious.
• Hotels should capitalize on this trend. Guests today are so health-conscious they sometimes
choose hotels based on their health and fitness amenities, pools and spas.
• Maintaining an active lifestyle while traveling has become more of a requisite than an alternative.
Innovative wellness options are expected, in addition to healthier food choices. Shower water
with vitamins was unheard of a few years back but may become mainstream soon.

12. Green Living
• There is a correlation between living a healthy lifestyle and green living. One study found
out that a person who is health-conscious is 87% more likely to be eco-friendly as well. This
is good news to the earth. Yes, there’s a growing concern for the environment, health, and
wellness among consumers. And because guests prefer eco-friendly spaces, environment-
friendly practices are becoming more a norm than an outlier, as properties try to shift on
renewable energy resources.
• Many hotels are installing solar panels. Apart from inverters, some hotels are updating
systems that make air conditioners and lights automatically switch off when guests leave
their rooms. You know hotels are taking both sustainability and wellness seriously when
their twitter feeds announce not just their state-of-the-art wellness gym, but even their
recycling programs and use of non-toxic cleaning supplies.

13. Word of “mouth” Promotion
• Social media is so powerful it can it can bring down governments and political
careers it’s silly to think it can’t topple a hotel chain. If a hotel guest is dissatisfied,
he or she can easily complain on Facebook, Twitter, Yelp or TripAdvisior. One bad
tweet and you can say good bye to millions of dollars in profit, if not the entire
brand.
• On the other hand, social media done right and well can turn your brand into a
more profitable one. Many hotels are capitalizing on popular guests’ (not necessarily
showbiz personalities, but those with a substantial number of followers) reviews and
tweets on their websites and Instagram photos and Snaps.

14. Word of “mouth” Promotion
Contd….
• A study said that in 2014, 70% of users who travelled were influenced to a degree by
travel content on Twitter. Furthermore, an astounding 60 million tweets are said to
have mentioned hotels. In perspective, only 21 million tweets mentioned holidays.
• Social media is also a good avenue to reach out to customers and earn their loyalty and
trust. Engaging with customers and responding to their needs through these public forums
help maintain positive guest relations and drive future bookings.
• Today, there are maybe six or seven really good social media channels for self-promotion.
Soon, there’ll be more, and you have to take advantage of every single one. Once word gets
out that your hotel’s social media account is helpful and prompt, you’re as good as fully-
booked.

15. Conclusion
• These are just trends. They may just be developing and becoming more
common or they may completely cease to exist altogether. The final results
may vary depending on a lot of significant factors, but barring a major,
history-altering event, organizations that employ a proactive approach
relative to these trends are in a better position to become more competitive
in the hospitality industry.