The hospitality industry is becoming tougher. Hotels are experiencing great forces of change that are tossing many businesses to the bin. The ever-growing fangs of competition, intimidating technological evolution and changing consumer preferences haunt hotel businesses every day.
The truth is, every business wants to stay relevant and increase the bottom line. Russell Kett, Chairman of HVS London, said in an interview that hotels are looking for an “opportunity to make good money and use that investment to get a stronger foothold in the sector.”
But the question is, how are they going to do it? They need to stay open to change and adopt new technological trends that could fire their hotel business to the path of profiteering. Here are some of the trends you might want to think about:
1. Augmented reality
Recently, augmented reality has emerged as a crucial marketing technology. The AR technology allows guests to virtually perceive the environment they are in. Since hotels are selling a physical environment, the technology can take potential guests into your hotel without even leaving their house.
One of the ways you can harness AR technology to boost your offering is through the use of interactive elements within your hotel rooms. Hub Hotel from Premier Inn in the UK is one of the best examples of the application of AR in the hospitality industry. The hotel started using the AR technology in conjunction with the wall map in their hotel rooms such that when guests point a smart phone at the map, the guest will be able to view additional info about the areas they are interested in. That way, they will not only be enhancing the use of the map, but also potentially making their stay more enjoyable and convenient.
2. Catering to Millennials
Millennials are gradually growing into a big force that is shaping the trends of consumerism in different industries around the world. The hotel industry is no different. In fact, according to research conducted by Airbnb, Millennials and younger generations are expected to represent 75% of all consumers and travelers by 2025.
To stand out, hotels need to devise strategies using hotel management software that favour this demographic’s consumer preferences, traits, and habits. This is a group that travels a lot and loves personalised interactions. They are early adopters of technology and are highly spontaneous in their decisions.
Any hotel that wants to please them will need to ‘play by their game’ and hook them in into their offers. Once satisfied, they will go singing praises about your hotel everywhere on the social media channels.
The use of cryptocurrency is growing. Today, cryptocurrency has made a jump from web-based novelty into a popular, trusted and secure method of payment, especially among youths. Most tech professionals think it is the next big thing to happen in the financial sector.
“The rapid rise in the use of cryptocurrency”, according to Antoni Trenchev, managing partner at Nexo, “has forced retailers and other businesses to adopt crypto-backed payments.”
One of the strongest points about crypto transactions is the eradication of the charges and fees that you would incur when using a credit card or bank services. That way, it makes overseas trade smoother. It also makes it more profitable for everyone that is involved.
4. SIP-DECT as crucial part of hotel technology
Modern hotels have a lot of moving pieces. The guests interact with different hotel staff – from receptionists to housekeepers to the concierge that provides them directions. Thanks to DECT, you can easily keep all these moving pieces connected.
DECT is a digital wireless technology for voice data applications uses a technology that transmits radio signals to mobile phones. The technology works best in smaller areas (like hotels) that have a large number of users.
How does it help?
5. Smart phones as extensions of hotel’s telephone network
It helps simplify the execution of different tasks. This feat would not only enhance the communication between the staff and management, but also helps provides them with all the necessary controls. For example, it could help your guests :
That way, you put all the controls in the hand of your guests and the staff all get seamlessly connected. As a result, it increases their performance and also strengthens their mobility.
Summing it up
You want to win the hearts of both your guests and your staff. You also want to increase profit margins. Don’t be left behind when your competitors are adopting new tricks and technology that keeps guests coming to their hotels. The above trends can help you offer your guests a unique, enriching experience that will keep them glued to your services.
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