Firms like the Grand Cosmopolitan Hotel must keep up with the latest hospitality trends to avoid falling behind in the industry. Keeping up with the industry as a whole is also a fantastic way to ensure that your business is providing the kind of customer service that consumers want and expect. The future is approaching fast. The hospitality industry is developing at a neck-breaking pace, making it nearly impossible to keep up with all of the latest hotel, travel, and hotel management trends. This guide is for you if you want to open your own hotel, if you manage one already, or are simply fascinated by tourism and hospitality because they are two of the world’s largest and most influential industries.
Why should I be concerned?
The most successful hospitality businesses are always changing, but in order to do so, you must stay up to date with industry trends. From marketing strategies to hospitality techniques, to embracing cutting-edge technology and responding to global events, everything needs to be covered. Following current marketing trends will give you the best chance of reaching your target demographic and effectively communicating your message. Embracing new technology, on the other hand, can sometimes help a company become more productive while also improving the overall client experience. Failure to keep up with the latest hospitality trends can have serious consequences, such as providing a clear competitive advantage to your competitors. Worse yet, it may cause your company to fall short of the standard of service that customers have come to expect.
Trend Factors of the Present
A shift in conduct or a more general change in circumstances is referred to as a trend. With this in mind, changes in customer behavior, new ways of providing hospitality services, and greater use of new hospitality technologies might all be part of the bigger picture. A variety of factors can influence trends. The growth of artificial intelligence, for example, has resulted in a trend in which machine learning and AI technologies are being used more frequently for customer service objectives. Meanwhile, virtual reality technology has revolutionized how many hospitality organizations sell their services.
Formerly pricey technologies such as artificial intelligence (AI) and digital room keys are now more inexpensive than ever, while developments in payment systems and app capabilities provide hoteliers and customers with fascinating new alternatives for booking, paying, and enjoying a hotel stay. These are “trends” right now, but they’ll just spread their reach farther in the future.
Many revenue management systems already use artificial intelligence-assisted pricing algorithms to determine the best rates by analyzing a variety of historical, forecast, and market data, and AI is expected to bring pricing optimization to restaurants, spas, and other businesses in the near future. Top revenue management system vendors such as IDeaS, Duetto, Atomize, and Pace, are leading the charge in the dynamic yield management competition.
Because guests are hesitant to download an app they will only use once, hotels may be able to save money on hardware while increasing visitor engagement by using an “app” that does not require a download. Visitors can skip the front desk and go straight to their rooms with a contactless check-in procedure that generates a digital room key on a guest’s smartphone. Hoteliers must guarantee that their websites are mobile-friendly as more and more clients complete the full booking process on their smartphones.
Environmental sustainability isn’t new, but the need for (and preference for) environmentally friendly products and services is certainly growing. It’s no longer enough to just advise customers to reuse towels for another day; today’s visitors prefer to stay in hotels that have incorporated green practices across the board. These ecologically friendly trends are here to stay, from architectural modifications to hotel structures, such as the inclusion of solar panels, to new menus with more vegetarian and vegan options. Hotels may profit from the vegan and vegetarian movements by including meatless alternatives on all menus and clearly stating if a dish contains meat or dairy. A well-known meat-alternative brand is Beyond Meat and this will definitely be a popular substitute among vegans and vegetarians. When it comes to green energy and avoiding the use of fossil fuels, hotels can utilize solar energy to generate their own or purchase it from their electricity source, and the panels are sleek and elegant to boot.
In the hotel industry, the future will be anything but routine. While there are many hotel brands, there is also a focus on uniqueness, whether it’s through the inclusion of cocktail kits in guestrooms or the physical integration of a hotel with a mall, gym, or apartment complex. The luxury industry is booming, thanks to trendy new brands, and we’re seeing investment in the economy as well. What would the design of a futuristic hotel be like? Based on these trends, there will be a lot fewer “big boxes” and a lot more “out of the box” thinking. Art, community, and uniqueness are prominent in hotel design trends right now, and whether it’s through local art or architecture, guests desire a design that represents the destination’s individuality.
It’s only logical that globalization would have an influence on the hotel business in a world where commercial and economic industries are so linked. As a result of globalization, more individuals can afford to travel, which offers hotels both opportunities and problems in servicing new guests from other places. As a result of the increased income inequality that has accompanied the expansion of the middle class, the gap between the top incomes and the remainder has expanded. High-end hotels must continuously come up with fresh and intriguing offers to dazzle their visitors, as luxury travelers continue to seek costly experiences.
Popular social media accounts make money by posting advertisements as marketing partners for hotels, airlines, and other travel companies. In addition to racking up “likes”, you might be surprised by how much impact these “influencers” have. Travelers are organizing trips without the assistance of a travel agent due to the plethora of travel information and booking platforms available online, all contributing to the demise of travel companies.
Technology, sustainability, and security will almost certainly play a larger role in hotel operations over the next decade. So if it concerns you, you should start incorporating some of these trends at your hotel right away to get a good head start!