New Global Hospitality Trends

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Information about New Global Hospitality Trends

Published on March 2, 2014

Author: MiguelRuano2



What global emerging factors are affecting the hospitality and resorts sector trends? What effect have the emerging global factors (new trends) in the hospitality and resort industry? The future tourist.

NEW GLOBAL HOSPITALITY TRENDS Elodie Casolà Tourism & Leisure Miguel Ruano

What global emerging factors are affecting the hospitality and resorts sector trends? 1. Social / Demographic Changes 4. Quality/ Sustainability 2. Mobility 3. Technology 4 main factors influence the hospitality and resort industry globally 2

What effect have the global emerging factors (new trends) in the hospitality and resort industry (I)? Global emerging factors Demographic and social changes   Aging population: leads to a growth of the seniors who are healthier with sufficient economic capacity to travel, though with an increased need for special services and adapted premises   Increase in demand from young customers: who are already experienced travelers   Shift in spending habits: resulting in an increase of spending on travel products and services   New social groups and segments: consisting of different demand profiles, though with a common interest   Globalization: and increased communication result in easier access to information about international destinations and offers and an increased interest in distinct cultural experiences   Trend to combine working time with leisure time; due to technological development and more flexibility in working conditions   Increasing importance of leisure and wellbeing; as well as trend of seeing vacations as a necessity (people reserve part of their income for vacation expenditures)   New source markets; growing in the middle mass market and with higher disposable income to spend in leisure (Eastern Europe, China, India, Asian countries) 3

What effect have the global emerging factors (new trends) in the hospitality and resort industry (II)? Global emerging factors Increased mobility   Faster and easier plane connections; to a greater variety of destinations (short, regional and long-haul)   Growth of low cost airlines; which provide more options to travel to new destinations more frequently   Wider range of short trip destinations   Increasing preference to spend short breaks in different geographic locations 4

What effect have the emerging global factors (new trends) in the hospitality and resort industry (III)? Global emerging factors New technologies and change in booking habits   Websites as new marketing and sales tool; widely used and accessible by all segments   Availability and use of new technologies; to gather useful information from clients (i.e. Customer Relationship Management, CRM)   Hotels rooms and facilities are increasingly equipped according to the newest technological standards   Increased booking of individual travel offers; decrease of use of travel agencies, as well as of group travel packages)  Do it yourself- do it as you prefer   Create dynamic packaging or tailor made products   More travel information and advice as well as booking possibilities; are readily available through the internet and other technologies 5

What effect have the emerging global factors (new trends) in the hospitality and resort industry (IV)? Global emerging factors Need for quality assurance and demand for sustainability   Time is a rare commodity; especially travel and vacation time is limited and consumers need quality guarantees   Quality and safety; in tourism destination offers have become increasingly important aspects when choosing a travel destination   Quality is an opportunity for differentiation; in all hotel segments (services, facilities and amenities)   Increasing focus on the environmental sustainability of hotels from side of guests   Scarcity of natural resources; therefore the preservation of such gains importance (water, oil, natural environments, ..)   Technological innovations improve the use of alternative energies: (water, renewable energies, ..) It is foreseen that hydroelectricity and renewable energies will grow annually by 1,9% (“International Energy Outlook 2005”) 6

The future tourist is more experienced, informed and independent and wants tourism products and services to be tailor made, creating unique travel experiences Anticipating the future tourist….. Is informed and seeks knowledge about the destination Has more access to a wide range of information through technologies like the internet, iPod, blogs and seeks instant information   Uses the internet as a key source of information as well as for reservations and payments     Actively searches for information about their destination before travel (virtual tourism) Is more experienced and controls the organization of trips, from flight to accommodation booking   Has individual needs and wants tailor made holidays   Is more unpredictable and independent, wanting flexibility when booking and during the holidays and prefers non-organized tours   In terms of accommodation, the guest of the future wants flexible food and beverage formulas, ranging from “bed only” to “all inclusive” to less rigid opening schedules; internet connection as well as other technological innovations (iPod speakers, air filtering systems, flat screen TVs, DVD player, ..)   Due to better information and more experience travelers have become more demanding in terms of product and service quality     Knows what he/ she wants and seeks individual tailor- made holidays   Is a contact seeker- personal interaction and establishing emotional bonds with people has become more important when choosing an accommodation Holidays to create social relationships: singles from big cities, families, young people, intercultural contacts and sharing of cultures Higher interest in experiencing the society and culture of the destination (interactivity and immersion into local culture) More consciousness about environmental and social concerns when visiting destinations (Ecopark, Green Globe) in terms of environmental quality of destinations as well as the commitment to corporate social responsibility of tourism related companies Same tourist – different profiles: the same tourist can travel for different reasons and is searching for a combination of services and features offered at destination Wants more active tourism, living sensations and experiences   Wants more information about health & safety related issues in the destination   Increasingly demands for health related tourism products   Holidays as a need: health, relax and intellectual appetite; holidays as emotional medicine   Seeks emotional, authentic and unique experiences       Is concerned about health & safety Source: T&L consumer behavior and consumption patterns research, 2007-2008 7

The impact of global emerging factors on urban hospitality development, leads to highly customized offer to highly segmented customers where lifestyle and status are important differentiating factors Past - Present Present - Future Genuine authenticity Authentic look Parador de Baiona – Spain - One & Only Royal Mirage – Dubai - Highly comfortable “boxes” Princesa Sofia Hotel – Spain - New York Palace Hotel Mandarin O. – Singapore - Boutique Hotels Hotel Raphael – Pais - Modern Design Gramercy Park– NYC - Theme Hotels Ice Hotel – Quebec - Chic & Informal W Hotel– New Orleans - High Technology Mandarin Oriental Hotel – HK - Enhanced Dining Experience JW Marriott– Bucarest - 8

City entertainment and leisure will take many forms depending on the destination and development City destination types City “Third places” and Mix Use Developments   Spread over different urban areas   Different quality levels   Open to everybody Retail places: branded and themed Food & beverage outlets Sport venues, activities and events Culture / art music Edutainment (learning whilst having fun) New Technology Entertainment shows and events Wellness / spas 9

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