Drivers of Change in Hospitality
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[Excerpt] The number of international travelers is expected to almost double by 2036, and as this number grows, so too do the demands on the hospitality industry. This is a period of unprecedented change, where advances in cloud and analytical technology meet guests who both create and share more data, and place higher demands on their hospitality experience. The outcome? A new challenge is born. The industry must accommodate growth, but crucially it must also leverage a unique opportunity to futureproof operations. Integrated technology across the hospitality ecosystem will underpin the solutions and innovative applications of tomorrow. From the fundamental role of technology to new experiences, brand loyalty and unlocking booking capabilities – these are the core elements of hospitality that must adapt. To understand what exactly is driving change and the opportunities to be unlocked, Foresight Factory worked with Cornell University, Amadeus and InterContinental Hotels Group (IHG) to identify three emerging trends that the sector must respond to today, to meet the needs of the consumer of the future. Central to each emerging trend are changing guest behaviors and needs. To understand the guest of the future, we conducted a survey of over 7,500 consumers across 12 markets, questioned on-the-ground travelers from Foresight Factory’s Trendspotter network, and interviewed a number of industry experts on the trends they see impacting the guest experience of tomorrow. Each trend unpicks a different aspect of the hospitality industry that will be disrupted when operational advances begin capitalizing on new guest expectations. Expect tech that augments the human hospitality service, loyalty programs that are enriched with insights from guest data and booking processes that are built on what guests value rather than standard configurations. To define how the industry can meet these three new challenges through appropriate investment in technology, Cornell University offers unique and actionable recommendations throughout.
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hospitality; international travelers; guest expectations; integrated technology
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