Hotel industry is evolving rapidly and there are lot of changes is going to be experienced in coming years. 2017 is going to be considered as boom year for Hotel Industry as people around the world specially Hoteliers is going to view some drastic changes in the current trends.
The Phocuswright and h2c’s “Independent Lodging Market Report”, co-sponsored by SiteMinder published a report in 2016 giving an insight view of the Hotel Trends in coming two years. They have outlined the Key Shifts which we can expect in the coming years.
Let’s have a glance on the some of the Startling Shift –
The primary catalyst in the growth of the market is of course the changing behavior of the travelers. But, if we follow the previous trends then we can say that the online bookings has increased as they have given the guest the liability to book rooms from anywhere.
If we check the report of “Phocuswright & h2c’s” specially for European market and American market then In Europe, 39% of bookings will be made online by 2017 and 44% in the US by 2017. Online penetration is even bigger across the world and will become the major choice in the coming years.
In almost every sphere of industry whether its news or e-commerce the use of mobile has increased and obviously the hotel industry is also not an exception among them.
As per the report, 8% of bookings are currently made on mobile devices. By 2018, that figure will stand at 35% which ultimately means that it is very necessary to have a Mobile Friendly Website to generate more revenues.
The popularity of the hotels totally depend on the surrounding area. You cannot predict whether the Independent hotel or Hotel Chain will be successful in the area where Hotel is situated.
If we look into the European market then Chain hotels are the big winners. They are growing three times quicker than independents in the four-year time period.
Again, the state side picture is different as independents and chain hotels remain steady at ratio of 28:72.
As per the growing industry the range of choice has also increased for travelers such as Online Travel Agencies, Hotel Websites. The tech savvy nature of Travelers has given a boom to International Tourism as now they can book rooms from anywhere, which has ultimately affected the Hotel Industry positively as well as brings new challenges.
Since booking is totally depend on the Travelers nature, so Hoteliers are going to view a mix sale from Direct as well as Indirect bookings. It is very necessary for the Hoteliers to have their own website as well as get listed on others Online Travel Agencies to boost their Revenue and maximize their Profits.
Here is the list of some incoming trends to follow by hotels to have a positive change in revenue generation :
In-Room Technology – Hotels without in-room facilities cannot compete the market in coming years as it has become the essential part of individual lives. The In-room technology especially includes high-speed wireless Internet and high-definition flat screen televisions..
Online Dining Option – Whether individual or business travelers, everyone now want to have the dining option onsite. Many of the hotels now offer complimentary meals also. Now, the travelers want to book rooms with the dining options as the international travelling has been increased globally. Luxury hotels or resorts even provide varied options for the same so that travelers can have choice to book.
Hotel Service – Maintaining the brand value and services is also an important factor. Now, Individuals do not only want to stay but they do look forward for the good services. It includes elite level of room services,valet parking, entertainment etc.
A wrong approach can have wrong impression on the Traveler and consequently the Hotel will have a bad review. This will ultimately affect the hotel revenue.
Hotel industry may have been through many changes than most in the past decade, but the projections shows it must continue to adapt more new technology and methods in order to succeed.
Online bookings, with mobile bookings set to be the next major growth area. But hotels must also maintain traditional strengths such as brand value and customer service.
Now, just running a hotel is not enough it is very important for you to understand the industry in-dept and your own customers. To remain in market do follow the new trends and technologies.
Hope the blog will help you to have certain knowledge about Hotel Industry and its trend in coming years.