Jan 29, 2016

10 Trends That Will Impact The Hotel Industry in 2016

Trend in Hospitality IndustryBy virtue of the economic stage we’re at, will be a terrific year for the hotel industry. Hoteliers who realize the potential and go by a few smartly observed hospitality industry trends will be able to reap the benefits not just when the market is ripe but also when things go for a downturn.

The Top 10 Hotel Trends for 2016 Are Going To Be:

1. The Invasion of Business Analytics

Analytics are more pervasive than we ever imagined. Utilize the power of good data analysis and you’ll be able to tell just which ads, websites, hotel features and rooms are fetching you the maximum profits. Employing analytics in your marketing campaigns, for instance, gives you a clear picture of what does and what does not work towards attracting potential customers. Therefore, you can streamline your investments based on the knowledge collected through data analysis.

2. Rise in Large Scale Consolidations

The headlines in 2016 will be dominated by news of acquisitions in the hospitality industry. Experts opine that the acquisitions of Orbitz by Expedia and of Starwood by Marriott were only the beginnings of a trend that is here to stay. When the economy is in a mature stage, such as it is now, the trend of consolidation walks in almost unexceptionably.

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3. Bigger Investments in Renovations

When the inflow of money of not restricted, a smart business person takes the opportunity to invest in upgrades and improvements. This year of flourishing hotel business will offer just the same opportunity for investment in renovations. Those who renovate now, shall certainly fare better than others when business gets slower in the years to come. And the implementation needs to be quick, as 2017, the year just after the coming one, may witness a reversal in trends for the industry.

4. Marketing Efforts Inclining Fiercely Towards Digital

Digital marketing and more specifically, mobile video-based marketing will reign supreme in 2016. As the average consumer begins to feed more and more on the information made available to her on the mobile phone in the form of smart and engaging videos, hoteliers will have to gear up to strategize towards creating videos that are easy to share, interesting and communicative.

5. No Substitute to Marvelous Customer Service

Each customer has the means to make or mar your reputation at their fingertips. Posting reviews is more quick and easy now than ever before. However sophisticated your digital machinery is, a lapse in hospitality may cost your dearly. Great customer service on the other hand will help you win more and more customers through word of mouth publicity on digital platforms. So going modern while retaining the same old values of warmth and thoughtfulness towards guests is the way to go for making the most of the golden year 2016.

6. The Age of Reaching Out through Online Travel Agencies

Online Travel Agencies, or OTAs, have a powerful reach. Innumerable people invariably log on to travel websites for finding the best deals on air travel and lodgings. Therefore, arriving at good deals with OTAs can get you a significant amount of traffic. However, these make for one expensive channel and no one would advise you to rely completely on it. Your focus should still be on getting direct customers on to your website. A smart balance between OTAs and direct traffic will help you fetch an optimum return on investment.

7. Personal Engagement on Social Media and Apps

It helps significantly to connect with your intrinsically technilicious young customers. A social media platform or an app for your hotel where the guests can not only learn about your brand identity but can also get live information on their booking statuses etc will be an excellent way to stay connected with clients. It will also help you know about your own shortcomings so that you can work towards creating an even better experience for people staying at your property.

8. Taking Cues from Popular Booking Engines

Hotel booking websites offer powerful insight into what works in favor of enhancing your hotel’s ratings. Certain facilities, like free Wi-Fi and digital check-ins get brownie points. Booking channels are a good source of getting information on what more you need to do in order to enhance your rankings among hotels of the same category.

9. Focus on Professional Revenue Management

Finance software especially suited for the hotel industry will find an even bigger set of patrons as the industry gets increasingly professional and modernized. Besides working on improving services, getting excellent technical support and training front-end staff, expending time and resources on organizing revenue management should be on your priority list.

10. Preparing for a Not-so-Bright 2017

A sunny 2016 is ensured, but we cannot say the same for the year that will follow. Therefore, another trend in the hotel industry in 2016 will be to build thick cushions to keep things in good order for the future as well. For the same reason, hoteliers may well be warned about not over-promising their distributors. A thorough review of partnership reviews will be a good move.

The industry has seen many changes and upgrades and will continue to witness more of them as the years roll by. Learn the science of the hotel industry and ensure for yourself a smooth sail even when the seas are rough.

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