October 1st means it’s spooky season and personalities have become more “bippity boppity boo!” But there’s nothing that can scare the hospitality industry this year. Other than maybe a slight hiccup in bookings and nagging competitors.
1. Just Like A Tattoo
In the words of Jordan Sparks, “You’re on my heart just like a tattoo, I’ll always have you”. OTAs are never going away, they are permanent, we will always have them. And so, the debate continues on how much to utilize OTAs in your channel mix.
Now, judgment day seems to be every day as OTAs struggle to prove their reliability and credibility. As more hoteliers realize the ROI of a strong direct booking strategy, OTAs will have to convince hoteliers of the value they bring and hoteliers will have to decide their level of dependency on OTAs. Read more about this discussion here.
2. Sustainable Supply Chain Management
Bones just wants Captain Kirk to “get it right”. While Jim is losing Starship commander’s points, the hospitality industry is finally getting it right with sustainable supply chain management.
Hoteliers and other businesses are waking up to negative environmental effects due to cheap procurement practices and supply chain management procedures. Minimizing cost is the consideration that has ultimately lead to these environmental and even socioeconomic disadvantages. Hoteliers are beginning to have open conversations with suppliers in terms of material sourcing and “eco-products” to enhance sustainability. And virtually all hospitality businesses are paying closer attention to reviews pertaining to their “green initiatives” in order to innovative procurement.
A SCM strategy focused on sustainability is becoming the ticket to “greener pastures”. Whether that is fine-tuning operations to reduce the carbon footprint or partnering with stakeholders to brainstorm new initiatives to reduce waste and improve material sourcing. Read more about it here.
3. What’s Your Status?
Ryan’s asking and he’s only interested in vaccinated parties.
You’ll be checking in and the hotel will be checking your vaxx status. In order to maintain consistency with city guidelines, hotels are asking for guest’s proof of vaccination and a negative PCR test in order for their stay to commence. The new measures are a direct result of requirements enacted in cities like New York who demand proof in order to participate in indoor dining and other activities. Despite diverse guest reactions to these new procedures, hoteliers are taking this an opportunity to further improve their training and safety protocols for Covid-19.
Adjusting to changing conditions from the pandemic is teaching hotels and other businesses in the hospitality industry the skills of rapid adaptation. Ultimately, hotels are realizing their role in upholding safety standards to protect their employees, guests, and cities. Here are the details.
4. China Is Flexin’
China is showing off some power moves as they slip back into first place for hotel performance.
It’s been a two-man race between the U.S. and China as each charge toward a finish line of eager revenge travelers. Covid-19 concerns and repeated lockdowns have impacted both countries as hotel bookings rise and fall. Although, China experienced a boost in hotel guests during the spring and has seen a steady increase despite the emergence of the Delta variant. On the other hand, the U.S. has seen more booking fluctuations and is still waiting on their “big break” as uncertainty around business travel lingers.
Read more on this topic here.
5. Scaling Back
“Pivot! Pivot!” Or how about, “let’s take it down a notch”. Ok, Ross has a lot of suggestions, but the latter applies to big-name hospitality brands.
Companies are looking to tech to reign in their operations in order to achieve optimal revenues while still providing value to customers. Intelligent automation systems are becoming the future for companies in hospitality as this technology allows for reevaluating costs by centralizing data. Given the pandemic, this is particularly applicable to “back-office” costs. This tech is all about managing resources and obtaining property insights at an advanced level of speed and efficiency.
Cutting down on “back-office” operations doesn’t mean you are sacrificing quality. Automation will allow brands to take control without losing precious time as internal scheduling, guest traffic, and other external factors quickly become synthesized. In turn, businesses are given the power to make decisions with swifter insights to establish greater accuracy. Dive into more on this idea here.
As always, have a great weekend, and check in with us in two weeks for the next installment of hospitality meme news.