According to the results of a new survey produced by Amadeus, a leading technology partner for the travel industry, hotels must become “living innovation laboratories.”
By 2020 Amadeus suggests that the travel industry will change in the following ways:
- 79 per cent agreed ‘heavy investment in emerging tourism markets will widen traveler choice, increase competition and potentially drive down prices and profit margins across the spectrum of hotels’.
- 71 per cent felt ’traveller motivations will become increasingly fragmented and diverse and harder to segment into clearly definable customer groupings’
- 92 per cent believe ‘hotel guests will expect their stay to be personalized around a set of choices they make at the time of booking or prior to arrival’.
- 86 per cent think ‘customers will have the ability to choose the size of room, type of bed, amenities, audio-visual facilities, business equipment, etc. on booking and pay accordingly’.
- 96 per cent expect that ‘in the face of intense global competition, the hotel industry will develop a strong focus on strategy and innovation – adopting approaches such as crowd sourcing and open innovation to generate new ideas.’
- 97 per cent believe ‘hotels will increasingly consider factors such as cost of servicing, level of spend and average length of stay when targeting potential customers in different geographic markets.
- 95 per cent think ‘hotels will increasingly look to new technologies to drastically increase efficiency, reduce costs, personalize the customer experience and improve service’.
- 96 per cent agreed that ‘hotels will need to develop strong social media ‘listening skills’ to understand how customer needs and perceptions of brands and service quality are truly evolving and to develop service propositions, marketing messages, and pricing solutions that reflect the needs of an increasingly diverse customer base.’
- 78 per cent expect ‘global hotel groups will increasingly seek to cover the full spectrum from budget through to luxury and heritage properties.’
- 81 per cent felt ‘hotels will increasingly experiment with a range of business models.
What do you think of these findings? How do you think this will impact corporate housing and the hotel industry?