With new millennia moving forward into the next generation, the Hospitality industry is undergoing a huge transformation. Modern electronics and their usage are having a profound effect on the Guest experience. The rise of Eco-friendly products and connectivity in Global tourism is showing some interesting changes. Here are the important Hospitality Market trends you can’t miss in 2020 to understand the changing scenarios in the market.
Modern software is the heart of the hospitality industry these days. Whether it be booking through 3rd party vendors for channel partners in room booking, loyalty reward system, express check-ins, and checkouts – this generation has embraced the technology in each step. Hoteliers need to bring on the hassle-free experience for guests to enjoy their stay in every aspect.
Digitized Guest Experience
Guest satisfaction has been the prime motto of the Hospitality industry but with modern technologies, this has further improvised to a whole new level. With cloud-based technology, every service is interconnected offering guests with frictionless expectations. Able to check-ins with their mobile apps, ask for special request, sync with hotel services, and enjoy the highest level of comfortability.
Many new types of hospitality market trends have increased the way millennia enjoys their holidays. Bed & breakfast, and other rental properties offer a glimpse of this distribution strategy. Travelers find this autonomy better than the traditional hotel room booking. This trend has shown vast improvement in the last decade to revolutionize the hotel industry.
Guest Health and Wellbeing
The wellness industry is at its peak around the around with estimations of around $639 billion(Source) in 2017 from $563 billion signifying the fact this part of the industry is growing twice than the general tourism. Travelers enjoy taking their leisure time in Health Spas, Yoga centers, Sauna bath, Ayurvedic sessions, fitness groups and involve in taking healthy diets only. Modern Hoteliers are using some advanced room services with smart air purifiers, in-room gym equipment, vitamin-based shower water, and Ayurvedic treatments to attract global tourism for their booking.
Rise of Virtual Communities
Online communities and Social networks have gained a lot of traffic globally. Public reviews, personal guest experience from users all over the world, and price comparison sites have made the system transparent. These virtual communities have now become a selling point for businesses. Guests often embark on reading reviews before going to book rooms and travel packages.
Online Travel Agents
Top online platforms around the world are now attracting traffic from online and taking the major chunk of booking in terms of travel packages, rooms, groups, or any specialized tours. They have altered the traditional distribution channel to emerge on the top taking the revenue from the hotelier’s income. Travelers now have complete trust and relationships in these sites for reviewing their travel plans and offer.
Airfares have certainly reduced or we can say people spending power has increased to open immense global tourism from countries such as India, China, South Korea, Japan, etc. Along with western travelers, these are now having a huge share of global tourism. The demand for international tourism for businesses, travel, medical treatments, etc has increased in keeping the view of the more affordable solutions.
Partnership with Local Transportation
Hoteliers are now connected with local transportation to give travelers more assurance in enjoying the local sightseeing. Rental cars, private taxis, and even local tours are part of your travel packages for giving users more satisfaction. Guests enjoy these privileges from hotels and often give leave positive reviews to build a brand reputation online.
Next-generation is showing awareness towards environmental and social issues affecting them all around. Eco-friendly is the new trend and their practices are now common among the hospitality industry. The use of natural and green products is now available to cope up with modern activities. The industry is making sure they bring every technology to give the guest a better eco-friendly atmosphere around them. Avoiding single-use of plastics, sourcing food from local producers rather than international, even monitoring the use of water.
These hospitality market trends show a major shift in online booking, global tourism, and the use of modern devices in offering the highest level of the guest experience. With new millennia embracing the new technology, Hoteliers need to adapt to these trends and understand the changing market to be on the right side of the profits.
At MyHotelLine, we have one complete automated software consisting of Hotel PMS, Channel Manager, Booking Engine, a POS, and offer mobility solutions for accessing on different devices smoothly.