Future of Hotels and Travel Industry - Hotel trends in Ireland - Keynote Speaker

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Published on February 23, 2014

Author: patrickdixonfuturist

Source: slideshare.net

Description

Future of hotel industry in Ireland - keynote speaker and Futurist Patrick Dixon, slides of keynote given at Irish Hotels Federation event in Dublin 2014.

Future of Hotels and Irish Hospitality Industry Dr Patrick Dixon Chairman Global Change Ltd

ALL      BIG      TRENDS      ARE      RELATED What  will  Irish  Hotel  Industry  look  like  in  2020  ? Downturn  is  (almost)  history  but  customers  have  CHANGED

Tourism in Ireland EU 7bn Around 200,000 jobs - 4.5% of GDP 50,000 in hotels and guest houses 11% of all workers in Ireland

Visitors to Ireland The Gathering 2013 Overseas visitors up 7% US visitors up 15% 265,000 extra visitors was huge achievement in difficult economic situation

6,000 extra hotel beds in boom - only 1500 lost in last 3-4 years - 70% bed nights are Irish customers

Hotel Occupancy and Rates will continue to recover

Hotel Occupancy and Rates will continue to recover

Experiences Matter Most

Strategies often overtaken by events World can change faster than you can hold a board meeting

You need more than one strategy to grow your hotel business

22

GLOBAL ECONOMY WILL GROW 2014-2020

WGP  1980-­‐2013  (%,constant  prices)  

US  GDP  1980-­‐2013   (%,constant  prices)  

EU  GDP  1980-­‐2013   (%,constant  prices)  

Vietnam  GDP  1985-­‐2011  

Republic of Ireland boom was fed by low Euro interest rates Low borrowing costs, high inflation, fixed exchange rate

2% inflation target likely to be discarded

£  375bn • $2.3  trillion  US  +  $65bn  per  month

Euro  to  Pound  -­‐  managing  risk  

>40%  WDP  by  2015 — IMF - adjusted for Purchasing Power Parity

$3.4  trillion   Reserves  

300  million  move  to  ciSes  in  China Rapidly  growing  middle  class  =  travellers

FUTURE of TRAVEL will be DRIVEN by

EMOTION and desire for EXPERIENCE

“Great  hotel  guest  experiences”     Mystery  Shopping     39

80%  lost  in  seconds  

Online  travel  revoluSon Hotels,  conference  centres  and  travel  agents   need  to  respond  instantly  to  e-­‐mail

                What  can  hotel  call-­‐centre  see  ?

LEISURE GROWTH MARKETS

People  Eat  Out  More  

Breaks  –  Stress-­‐Busters • • • • Luxury and pleasure Impulse buying Special treats Many more short citybreaks – at all times of year • Second main holidays / adventure / activity eg winter sun

5%  in  UK  will  take  an   adventure  break  in  2014    

Tailor  made  holidays  /   mulS-­‐desSnaSon  luxury

City  breaks  now  as  popular  as  beach   holidays  for  UK  residents

Stag  weekend  /  Hen  weekend Average  UK  15-­‐24  year  old  took  5  breaks  last  year

21,000 marriages a year in Ireland and global trend is more elaborate

EU 600 million • 5000 brides confetti.co.uk

Desire  to  be  Different    

Memories  and  Moments

BUSINESS GROWTH MARKETS

68,000 overseas visitors to Dublin conferences in 2013 Ireland events market EU100m a year

Making  it  more  Personal  

Demand  for  unusual  venues  is  growing

Business mixed with Leisure • 33%  of  tourism  spending   in  London  is  by  business   travellers

OLDER GUESTS GROWTH MARKET

1 billion over 60 year olds in 10 years

Europe Dying 4 couples to produce single great-grand child in some nations

75%  of  all  US  and  UK  wealth  owned  by   those  over  65  -­‐  mostly  women

             Rest  -­‐  Reading  

IMPACT OF ONLINE ON HOTELS IN 2014

Would recommend you to a friend ?

"Perfection!,"  TripAdvisor Member, FEb 17, 2014 This was a most beautiful Paris hotel. Delightful, all perfect. We will stay again v soon. "Terrible! TripAdvisor Member, Jan 23, 2014 Terrible place, rats, dirty, noisy - sick with food poisoning for 2 weeks. Nearly died.

1  trillion  pages                  a  month

1 Billion accounts

e-­‐commerce  hits  $1.5  trillion  2014 12%  all  UK  retail

Huge growth aggregators

Price Transparency

Italy:  58%  increase  in   aggregator  sales  of   insurance  in  first  6   months  of  2013  v  2012

2014  ruling  by  Office   of  Fair  Trading  allows   Online  Travel  Agents   to  discount  hotel   rooms,  paid  out  of   their  own  margins

Hotel  booked on  arrival   in  city

Why  can’t  I  find  a  place  to  stay?

LocaSon   MarkeSng is  next BIG  THING

• Zettabyte Exabyte Petabyte Terabytes = 1024 Exabytes = 1024 Petabytes = 1024 Terabytes = 1024 Gigabytes BIG Data

• Home • Work • Online • Offline • Sales • Entertain • Phone • Mobile • Chat • Mobile KNOW YOUR CUSTOMER Travel and Room Preferences

HOW TO AMAZE YOUR GUESTS

Night Flight or Day Flight Going out or coming home? – work, food, drink, chat, party, unwind, dark, quiet, sleep, leave Best  for  Business Out  /  Back  

100

Room Key

Junk but no iron

108

The  only  hotel  value  worth  having   Treat every customer as if a member of your own family or a friend eg web / phone

Wonderful  Memories

RESOURCES >500 videos of Keynotes http://www.youtube.com/pjvdixon Global Trends Website: http://www.globalchange.com

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