We feel for hotels, managing your staff’s stress levels can be difficult. Let’s hope you’re having a better week than this guy. Anyways! We’re back with fresh hospitality news that will blow your mind from cage-free eggs to “Bill Nye The Science Guy”. And yes, it all relates to the biz.
1. We Are the Comeback Kid
Hospitality says, “we’re back baby.” The year 2021 is for the comeback kid.
With pandemic restrictions lifting around the world, travel demand is rising, which is giving the hospitality industry a major boost after recovering from the past year. While there is a resurgence for many businesses, there are a few new trends to keep in mind.
Contactless transactions are not a thing of the past, so hoteliers, vacation rentals, and casinos should anticipate guest requests for remote check ins, self-service options, and other accommodations that allow for more privacy as many blend work and play.
Not to mention, there might be several power grabs from the competition who are trying to claw their way back from the woes of the pandemic. Differentiation is key, so many industry businesses may try and focus on non-room revenue opportunities, investments for better service technology, and adapting to short-term rental bookings.
There is an evident and increased demand for travel and tourism, so hospitality can make a powerful return. See for yourself.
2. With a Sprinkle of Positivity
As if the news for hospitality couldn’t get any better, stock prices for the industry are back up! Hotel groups and service apartments are especially blessed by this new period, as new investments are being made, indexes outgrown, and new venturers for expansion, announced.
An interesting development has surfaced with hotel competition. Companies such as Marriott and Hilton are breaking ground for service apartments. Service apartments, or apartment hotels and suites, will directly compete with Airbnb. With the pandemic funneling money into Airbnb like a waterslide because of its convenient contactless options, hotels are finding an “in” on how to keep up with demand for longer stay options and gain more marketing share. Find out more details here.
Because that’s what Dr. Seuss was talking about, right? Sustainability and conflict resolution with “Sam I Am?” Nevertheless, Dr. Seuss would be quite proud of the Southeast Asian hospitality sector for their egg efforts.
With names like Hilton and Accor as their inspiration for sustainability and animal welfare practices, 15 hotel chains across Southeast Asia decided to revamp their approach to these ideas. The group focused on engagement with egg producers, cage-free adoption, and collaboration with animal welfare advocates to create a more ethical and viable supply system while meeting customer demand. For a more in depth look, here.
4. Get My Good Side
So you think you have a good side? Well show the people what they want! Apparently, that’s what top PR experts are recommending to the hospitality industry.
Since the pandemic, many are struggling to hire and fill positions, or just to simply generate interest in working for their company. Those who specialize in public relations are recommending that businesses, especially those in hospitality, should market themselves to prospective employees by showing how they treat their current employees. From leaving encouraging notes to coworkers, buying ads to highlight the good work your team is doing, giving out swag, or even publishing articles about what it’s like to work in the hospitality industry. Highlighting that good side is said to make an impact. See tips, here.
5. Did You Know Though?
Bill Nye. Serving up knowledge with a question. So, did you know revenue management systems help the hospitality industry? We’re not Bill Nye, but this knowledge is powerful.
If you didn’t hear about it, or use it before COVID-19, you’ll certainty want to take it into consideration now. Revenue management systems are key for optimizing revenue for businesses in the hospitality industry for better market insights, tailored pricing strategies, understanding guest booking behavior, and accurately predicting demand. Implementing these tools through revenue management only has a greater chance of leading to increased guest happiness because of the kind of value provided through better analysis. Read more on how you can be here for the guest.
As always, have a great weekend, and check in with us in two weeks for the next installment of hospitality meme news.