As a hotel industry expert, we’ve noticed some exciting trends emerging. Hotels that are on top of the trends will be well positioned for sustained growth well into the future. The following are some forecasts for the future that both small operators and large chains alike should be watching closely. The Growing Importance of Social Media. Facebook, Twitter, Instagram, Pinterest. The growing importance of these tools cannot be understated. Not only are they fabulous tools to spread information regarding your hotel and special offers, travelers are increasingly relying upon them and the information they can find within when considering where to stay during their journeys. Most importantly, the use of social media will make real-time marketing easier and more cost-effective. Technology is King. Big data’s importance is already well known among hotels and their hotel industry expert, however, the way it is being used is becoming more focused. Being able to analyze everything from guest reviews to client preferences is making it easier for hotels to customize their offerings and provide higher quality amenities and the more personalized service their clients are increasingly expecting. Online Travel Agencies will become secondary to direct booking and reservation. While OTA’s will continue to play a major role in helping decrease vacancy rates, technology has made it easier and more affordable for hotels to integrate the same easy to operate in-house booking systems that offer the same deals and convenience travelers expect. Airbnb could emerge as an industry partner, rather than competitor. This may be possible in urban settings where select Airbnb operators could be tapped to handle overflow, and conversely, be able to benefit from a formal affiliation with an established hotel brand, thus making their home a more appealing option for travelers than others within the Airbnb marketplace. New construction will decrease. 2015 saw roughly 13% new construction starts in the hotel sector. In 2016, the expectation is only a 9.2% increase. Instead of building new hotels, existing players are likely to focus on improving quality and service before moving forward on expansion and growth plans. The immediate future of the industry from a hotel industry expert perspective is focused on stabilization. Over the coming year hotels that invest the time and effort to focus on building their social media presence, incorporate new technology, and branch out into alternative markets/partnerships will be well positioned for strong, long-term growth.
