5 trends to look out in Hospitality Industry in 2020
Hospitality Industry in 2020 is going to witness many new trends. And it should be. As we are proceeding towards the future the expectations of travelers are also changing with an exponential rate.
The industry cannot afford a slow evolution so they have to keep pace and become what their guests expect them to be.
The industry has performed really good in the past few years. The share of the hospitality industry in the global economy is increasing.
And there is much more to come. I will not say that we are going to witness the future in 2020. But we will definitely see this industry to take a few more steps towards the future.
So in this article today I will try to jot some new trends and some that will grow even more in 2020 than in 2019.
The industry will target sustainability
Both travelers and travel service provides have become aware of the fact that our activities have an impact on the environment.
Hence the role sustainability is going to be more significant in the hospitality industry in 2020. Hotels need electricity, water, goods that are both consumable and durable which leads to the creation of waste.
The waste created is in the form of furniture, equipment, appliances, bulbs, tubes, etc.
In recent years, green technology has flourished so well that it is available at affordable rates.
Many hotels have begun to use new green development projects.
Such projects are based on technology that uses an alternate source of energy like solar, air, wind, etc. to produce energy.
The properties that use such sustainable technology are labeled as green buildings.
Technological Advances
How can we ignore the technology advances when we are talking 2020. In the upcoming year, technology will make traveling even more luxurious.
From the past few years, some technologies were trying to sneak into the industry. But this year we might see them practically implemented.
Internet of Things is one such technology.
As the name suggests the Internet of Things is the network of things, i.e. all the appliances and devices around you.
It basically acts as a bridge between physical objects and the computer-based system. Hence a remote or mobile device can control them.
IoT found its vast application in the hospitality industry as hotels are always focusing on improving their features and amenities.
Hotels are implementing IoT-centric systems in order to better serve their customers and also increase the efficiency of its operations
Augmented Reality, Artificial Intelligence, and Face Recognition will be some other technologies that will show their importance in the hospitality industry.
Hyper-Personalization in Guest Experience
In the modern-day world, each industry is shifting towards the customer. Earlier, the businesses used to decide what product or service should be there in the market and the customer used to buy from the options they have.
But now there is a change in the scenario. The customers decide what they are willing to purchase. Hence personalization of services and products is a great deal now.
In the upcoming year, we are going to witness this in hospitality as well.
The hotels will offer you a personalized stay experience to its maximum extent. This will create a bond between the hotels and their guests.
More use of IoT
According to Wikipedia
IoT is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and the connectivity which enables these objects to connect and exchange data. Each thing is uniquely identifiable through its embedded computing system but is able to inter-operate within the existing Internet infrastructure.
IoT found its vast application in the hospitality industry as hotels are always focusing on improving their features and amenities.
Hotels will be implementing IoT-centric systems in order to better serve their customers and also increase the efficiency of its operations.
IoT will increase the productivity of hotels and make the guest experience more luxurious and personalized.
With the implementation of IoT, the data flow between multiple properties will become very smooth. This will help in managing the customers and gathering reports and sales data etc…
These days as we know hotels are spending a lot to attract as many direct bookings as they can. In order to do that they are running loyalty programs on a large scale.
So if a loyal customer of a hotel chain revisits a hotel at a different place then with the help of IoT the hotel will be able to provide him the same personalized experience as the last visit.
Millennials Driven
Millennials are the most important generation of travelers and the best consumer group for the travel industry. They are the generation that is redefining the way of traveling.
The millennials are the largest workforce around the globe and they are mixing the travel for business and travel for pleasure hence, giving rise to bleisure travel.
Millennials prefer the mix of work-travel experience. They can easily add some days to their business trip and experience the local culture of the place or for some other leisure activities.
Millennials have been bought up in an era of economic ambiguity. But despite that, members of this generation are well composed in terms of financial status.
Right now, for millennials the employment rates are good and the future seems to be bright. But still, they do not believe in spending extravagantly.
However, when it comes to traveling they do not stop their hands. They spend more each day on trips than other age groups
The millennials have broken the threshold of race, cultural differences and genders. They want to immerse fully in the local culture and enjoy their type of living the locals live.
This gives them a unique and meaningful experience they search for.
Conclusion
Year 2020 will open many gates of new possibilities for the hospitality industry. The Hospitality Industry in 2020 will be more generous and exciting for travelers.
These were my top picks of what we are going to witness. But there are many more.
Do not forget to share your opinion on the topic.
Your suggestions will be very useful to me.
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