6. ‘Sharing economy’ to create new business
We will continue to see the evolution of sharing and crowd-sourced business models. Uber, AirBnB, Zeel and other proven brands will see new entrants who will disrupt convention. Don’t be surprised to see therapists turn into spa brands, peer-to-peer dining experiences challenging celebrity chefs, and holiday homes that offer ‘connected’ social experiences competing with hotels.
7. Business travellers will go green
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The executive floor proposition will evolve into the green floor as business travellers seek more authentic impact, from corporate carbon offsetting credits, ‘smart rooms’ that don’t consume excess electricity and fair-trade products, to name a few principled perks.
8. The reinvention of loyalty rewards
Loyalty programmes will need to evolve as loyal customers seek broader and more bespoke benefits, and demand more from hotels. This alternate currency of points, rewards and recognition will impact yield management principles and progressive hoteliers will recognise the importance of intelligent enrollment to consistent initiatives that retain and reward guests.
9. Online travel agents to broaden relevance
OTAs will diversify their services with the introduction of new products, including branded cruises and even their own hotel concepts.
10. The rise of ethical travellers
Tomorrow’s travellers will seek more ‘principled brands’ who connect to their aspirations, values and needs and have a clear purpose that transcends profits. Your food-wastage programme, fair-trade initiatives, community empowerment and support towards local suppliers and artisanal brands will have more impact than the obvious glossy promises one expects from luxury hospitality.
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