In the hospitality industry, I contend that social media is one of the most talked about but least understood and least monetized of the marketing mediums.
A great deal of what we read nowadays is predicting how the travel market will change and how hoteliers need to pre-emptively adapt in order to compete.
In an American Express survey commissioned last year, consumers illustrated their demand for more enriched lives and personal fulfilment through experience and learning. Over 72 per cent of respondents said they would rather spend money on experiences than things. Further, 88 per cent said travel is the number one dream on their life’s bucket list, ranking higher than family or wealth.
The sea change taking place in luxury hotel marketing is being driven by Millennials as they redefine what the parameters of luxury means to them. First-class accommodations and amenities are just the beginning of this new-style luxury that Millennials crave. Hotels are compelled to create and offer extras including life-fulfilling experiences, adventure, and even educational enrichment.
Lyf residences, designed for and managed by millennials, aims to seize opportunities in the rising trend of co-living and co-working.
There are a few things that are different about the millennial-aged population that make them quite different from their predecessors, and to draw in this large group of consumers, you must appeal to their preferences.
JO&JOE aims to blend the best of private-rental, hostel and hotel formats, with AccorHotels planning to expand rapidly by opening 50 venues by 2020 in destinations popular with Millennials.
Teaching a young, ambitious supervisor is one of the greatest rewards for a hospitality professional and sharing the experiences you have garnered will make your hotel or department that much stronger and consistent.
It is important to make sure we're prepared for when the bulk of millennials reach the age where they are traveling regularly for business and leisure.
Research shows 85% of Millennials frequently regret not being able to take more trips.