Which Two Of The Following General Trends Are Expected In The Services Industry In The Future

What are the latest trends in the hospitality industry? It goes without maxim that the pandemic and ensuing economic downturn greater than the 2008 recession and chaos caused by fluctuation in need have had a significant impact on hospitality throughout 2020 and 2021 - no dubiety with lingering furnishings. Some innovative responses to this boggling situation like attempting to entice patrons back into food and beverage outlets and assure holidaygoers that it is indeed safe to enjoy a hotel stay, have accelerated existing hospitality manufacture trends and triggered lasting modify.

Meanwhile, there has been a shift in gild, partly due to changing values afterwards the acute phase of the pandemic. While in 2020 and 2021, the popularity of staycations, hygiene protocols and contactless technologies - all at present firmly embedded in the daily activities of hospitality businesses - has risen sharply, some new trends are emerging.

An increased consumer awareness of all things sustainable, purposeful and health & well-being has set up new benchmarks for hospitality enterprises. EHL Insights presents to you the current trends in the hospitality industry of 2022.

The ten trends that are shaping the hospitality manufacture in 2022

ane. Bleisure travelers & hotel work spaces

Working remotely has today go commonplace for many employees and is forecasted to become more just a passing trend. A shift accelerated past the global public health crisis, an unprecedented number of high-profile companies – with big tech companies similar Twitter, Facebook, and Amazon leading the way  – announced that they volition adopt a hybrid or flexible arroyo to working remotely. In 2021 lone, the percentage of workers around the world that are permanently working remotely wasexpected to double.

This ways that hospitality venues are being used as brand-shift offices for bleisure travelers, as well every bit locals seeking a alter of work environment. This is a great opportunity for hotels and F&B venues to capitilize on the trend and adapt their offering to meet the needs and wants of this emerging segment; ample plug sockets, free loftier-speed WIFI and great java are good starting points.

2. Holistic hospitality, health & well-being

Preventative medicine and self-care are undisputedly trending right at present due to the COVID pandemic. The wellness manufacture is transforming into a booming trillion dollar market and hospitality venues are well positioned to have a big piece of the pie, especially those with existing spa facilities.

In addition to the usual dazzler and relaxation spa offering, there is speedily growing demand for health diagnostic technology and bespoke treatment plans delivered past experts who deport personal or group sessions to develop vitality, healing, stress management, emotional residuum, mindfulness and ameliorate sleep. Find more spa trends for 2022 in this article.

iii. Digitalized guest experiences

Apps are increasingly of import in the way hoteliers manage the services they provide to their customers and can now control many aspects of the invitee cycle and experience. Needless to say, the tendency towards digital and contactless services has gained new momentum since 2020. Traditionally, client-facing services are existence given an overhaul thanks to the more widespread apply of technology-assisted options, such as mobile check-in, contactless payments, vocalism control and biometrics.

Consumers who have become accepted to unlocking their smartphones and laptops using facial and fingerprint recognition will soon come to look the same convenience in accessing their hotel rooms. Unfortunately for the establishments looking to welcome them, these upgrades may exist costly to install and maintain. If you desire to stay alee of the bend, we recommend y'all dig deep and brand the investment.

four. Personalization

Today's guests have grown to wait to exist recognized and treated as individuals. Establishments are going the actress mile to personally greet their guests, while tools such as Mailchimp and Zoho have fabricated personalized electronic mail marketing attainable to the masses, ensuring highly target audience-specific communications. Far across simply calculation the customer's proper name to email greetings, information provides insight into past ownership habits, enabling hotels to tailor their offers and promotions, and automatically provide like services to previous stays.

Technological platforms such every bit CRM and CEM apply big data to create 1-to-ane interactions between the guest and the host at scale. AI-powered chatbots take proven to be a customer service asset both during the booking procedure and in responding to recurring questions.

Hotel operations more than mostly are increasingly shaped by the use of direction systems to monitor and optimize revenues, customer relationships, property, channels and reputation. Non to mention the ascent importance of integrated messaging, predictive analytics, client profiling and middleware, which seeks to connect whatsoever disparate systems.

5. Experience economy & essentialism

Customers asking both extreme personalization and unique experiences. This could very well pb to the death of the travel agent and the rise of the independent traveler.

Travel guilt is real. Minimalism has reinvigorated the otherwise somewhat dusty proverb "less is more". Travelers are decreasingly seeking lavish displays of wealth, preferring instead to spend wisely, purposefully and make a positive bear upon on the earth. Unique experiences that give back to local communities in meaningful ways are in demand, equally are niche properties, adventurous holidays and relaxation retreats.

6. Asset management strategy

The asset-light approach has become prevalent in the industry. The separation between the management of operations and real-estate assets now allows hospitality companies to focus on their core business, thus improving efficiencies.

It however induces additional complication and potential agency problems, explaining the emergence of new  types of jobs, such equally asset managers. In add-on, new chore profiles take emerged following the increasing complexity of the hospitality industry. In parallel, the need for quantitative competencies (for forecasting, budgeting, etc.) has as well increased.

7. Solo travel

In the historic period of mindfulness, many accept embraced the meditative value of spending time solitary and venturing out into the big wide globe unencumbered, interacting and making friends to any caste suits. In an effort to make solo travelers feel comfy, barriers between hotel staff and guests are being lowered, interior design choices fabricated to evoke a sense of homeliness and an informal atmosphere cultivated. This, along with a less stark divide betwixt guests and locals, encourages a feeling of hotel community.

viii. Sustainability

A hospitality tendency that is both current and a hallmark of recent years: "sustainability" once more assumes its position. A natural extension of fugitive disposable plastics, eliminating unnecessary paper consumption cheers to opt-in receipts and reducing nutrient waste, more far-reaching ethical and ecology considerations are shaping decisions fabricated at the hospitality management level. Decisions about things equally elementary equally which towel rails to install during renovations have asymmetric repercussions when implemented at calibration. Uncomplicated eco-friendly switches include replacing miniature toiletries with larger, locally sourced dispensers, choosing ethically produced bedsheets made from organic materials and reducing free energy consumption with smart bulbs, etc. Vegetarian and vegan options too harbor well-known ecology advantages.

nine. Virtual & augmented reality

Following on from the orientation towards visually appealing content, it seems merely natural that businesses in the hospitality industry should seek to capitalize on features such every bit virtual tours, conjuring upwards a digital environment for consumers to moving-picture show themselves in.

Videos providing 360-degree views of eating place ambiance, café terraces enveloped in greenery or hotel beachfront locations, for instance, are merely the ticket to make an establishment stand out this yr. As ever, keeping the access threshold low is primal to reaching as broad an audience as possible with virtual reality material: making content accessible on a variety of devices, without the need for a VR headset.

In one case on site, guests should be able to whip out their trusty sidekick – their smartphone – and merely bespeak it at real-world artefacts to summon up additional information. Augmented reality uses graphical or informational overlays to raise in-situ environments. Once they have downloaded the respective app, guests can apply this tool to access eating house opening times, reviews or interactive tourist data maps or fifty-fifty create user-generated content.

10.  Traveling less (& Staycations)

Travel restrictions in 2020 and 2021 have facilitated the rise of the staycation. Even with international travel opening back upwards, between airline price hikes, Covid testing requirements and the complicated hierarchy involved in going abroad now, many deem foreign travel either too expensive for a big family unit vacation or not worth the hassle for the weekend breaks of the past. Hence, opting in favor of the staycation trend instead, or but travelling much less than pre-pandemic levels.

In fact there is a multitude of reasons vacationers may likewise be choosing to stay closer to home, such equally for environmental or budgeting reasons, with this year having seen a marked uptick in holidays spent more locally. Lucky for those who live in an already tourism-rich, picturesque country with a pleasant climate.

Today – Hospitality Industry two.0

What does the time to come of hospitality hold? EHL faculty carried out an internal survey with a view to unearth the management the industry is heading in. Overall, our faculty suggests the need for hoteliers to properly embrace the to a higher place mentioned trends and understand what's at stakes. Six dimensions came out from our survey:

1. Standardization tin can no longer be the norm

It is condign critical to personalize and tailor the services to the needs and preferences of the traveler.

ii. To create value, focus on niche markets

More customization and specialization may enable increased value cosmos for hospitality companies. But be careful, as a respondent said, this requires to genuinely think virtually the value proposition of your offer and not "simply branding and rebranding".

3. Exploit technology every bit an accelerator for business

Technology volition be at the cadre of the hotel experience both in room, before and later on the trip. This will atomic number 82 to the evolution of new concepts and more innovation in the industry, and contribute to the emergence of an ever more than individualized offer.

4. Social responsibleness is a moral and economical obligation

The impact of global warming tin can today be considered a major risk for both corporations which may lose in revenues and profits, and society equally a whole. It is thus critical for governments, only even more so for corporations, to become more sustainable: "not just green, but real sustainable business organisation models".

People are becoming increasingly sensitive to environmental and social issues. A respondent said that this "has to exist considered in branding, but beware of green-washers: consumers are now well-enlightened that window-dressing exists and they volition not buy it."

5. Develop more responsive and resilient concern models

"Tourism, despite always-growing flows of travelers, will become riskier and more decumbent to crises" as the number of travelers steadily continues to abound. This volition exist accompanied past increased regulation equally a response to a disproportional increment in tourist flows in some places (e.g. Venice or Barcelona).

Widespread lockdown, upturned work and childcare schedules take afforded delivery services new importance this year. No longer content with (always) ordering the usual go-to pizza, Chinese or Indian takeaway, consumers are now looking to have things upward a notch. Not wanting to forego the frills of fine dining, they are now looking to emulate the experience at domicile. F&B outlets are making this possible by incorporating drinks deliveries and offering extras: atmospheric candles, QR-lawmaking playlists and unexpected freebies. Whilst hotels have played their part in supporting local medical needs and turning hotel rooms into alternative work spaces for those tired with working from dwelling.

vi. Manage talents actively

The days of long-lasting employee retentivity as well every bit passive, hierarchical management styles are definitely gone. "Attracting, developing and keeping the right talent into and within the hospitality industry remains a core claiming."

Tomorrow – The Hospitality Industry 3.0?

While, as seen to a higher place, the consensus revolves effectually the need for the industry to evolve in order to amend suit to the current environment, some respondents were more 'extreme' and suggested that hotel rooms, as nosotros know them today, "volition become a matter of the past".

These respondents refer to the touch on of the sharing economy and the tendency of today's customers to avoid traditional hotels. They believe that adjustments in the offer, similar the ones listed higher up, are not sufficient and that the manufacture has to truly reinvent itself.

This standpoint is reinforced by the increasing importance of technology in the hospitality manufacture and the power that engineering science firms are acquiring. A respondent elaborates:

Major technology firms will replace most hotel brands, because they can offer technology solutions and create markets to attract customers. The traditional hospitality industry will evolve into niche markets (serving specific types of customers), or extremely luxury sector (then they can afford to pay their staff a reasonable salary). Those who can't identify their niche will get the money machines for technology companies. Some brands big enough may survive, only their business will become tougher.

While respondents are more or less alarmist as to the future of the industry, all notwithstanding agree that information technology has to evolve and reinvent itself in club to exploit the opportunities and cope with the challenges information technology faces. The only question remaining is upwardly to which extent this transformation volition have to take place.

Need more than resources on the travel, tourism and hospitality manufacture?

Hospitality Industry - all your questions answered

Written past

Associate Professor of Finance at EHL Lausanne

Written by

Acquaintance Professor at EHL

Source: https://hospitalityinsights.ehl.edu/hospitality-industry-trends

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