Hospitality Trends 2020: Outsourced Revenue Management to AI to Rule the Year

hospitality trends hotelier revenue management for hotels

A man consumed by wanderlust needs no excuse to travel! All one looks for is the WOW experience and the zeal to explore the unexplored. Conviviality of the hotels further adds on to that experience.
 
Identifying customer needs and delivering them with excellence can help hotels scale up their business. Hotel owners and managers with limited expertise and time on hand can consider outsourced revenue management as one option, other than maximum automation, and a well trained team to sail swiftly. We bring to you some hospitality industry trends, which are expected to rule the year 2020:
 
Trend 1
 
Travellers parking their trust on Direct Bookings – Agents or online channels are expected to remain on the driving seat but the trend of direct booking is likely to catch up among the young travellers. The ease of booking and customisation can help hotels pull much crowd, and provides an organised way for revenue management for hotels.
 
Trend 2
 
Era of Millennial Travellers – Change has come of age with millennials increasingly capturing the traveling scene across the globe. Millennials are bound to become the largest set of travellers in the coming times. The hospitality industry has to gear up to address their needs affably.
 
Trend 3
 
Artificial Intelligence will pave the way – Technology is already playing a very influential role in customers’ buying behaviour. Artificial intelligence is expected to be a huge influencer this year providing the much needed comradeship to the travellers. Travellers are likely to go beyond using technology for reviews and bookings only. The hospitality industry should use Artificial intelligence as an integral tool to bring customers on board and give them an automated experience. The use of Virtual reality in creating experiences is growing worldwide.
 
Trend 4
 
‘Go Green’ shall be the mantra – Hotels adopting the concept of sustainability are bound to have an upper hand over its competitors, thereby increasing the prospects of attracting the globetrotters. Hotel sustainability is not only about going green and saving the Planet. It’s about using local resources, hiring local staff, using  rain water for gardening and flushing toilets, reducing the use of plastic, using a PMS ( Property Management System ) thereby reducing the use of paper, offering bicycles as an alternate mode of transport and the like.
 
Trend 5
 
Theme based Destinations – With plethora of backpackers ready to hit lesser explored destinations, theme based or unique places are expected to be on their map this year. Hoteliers will have to focus on destination marketing and seizing the audience by enhancing their presence on digital media. Travellers will also be looking forward to gaining more cultural inclusive experiences.
 
Trend 6
 
Personalised character of Hotels – It’s not the basic facilities that the travellers will be more interested in, but the personal touch by the hotel team to widen the smiles on their faces! Pro-active approach of the hotels, smarter ways of addressing the customers’ needs such as smart TV with Netflix or a movie library, automated digital check-ins etc., will definitely help the hotels emerge winners. Customers look for that ‘extra’ effort put in by the hotel to provide them the best of everything. It’s not the place that makes the difference in the travel experience, but the hospitality of the place of stay and the amiability of the people there, that create memories to relish. The hospitality industry has much to look forward to in this year!
 
The Hotel Experts is a boutique hotel management company. We are here to help with outsourced revenue management, hotel turnaround strategies or anything to do with hotels. Have a question? Just email us at info@thehotel-experts.com.

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