Hospitality Trends to Invest In

The hospitality industry has been one of the hardest hit by the pandemic and its subsequent lockdowns. As a result, businesses in this sector have had to evolve to remain relevant and sustainable. Here’s a look at key trends to consider investing in to ensure your business not only survives but thrives.

Adapting Your Business for “Bleisure” (Business and Leisure)

With remote and hybrid work becoming the norm, there’s a lucrative market in catering to "bleisure" travelers—those who mix business trips with leisure activities.

To attract this type of customer, consider modifying your venue to serve as makeshift office spaces or work hubs. Ensure you provide ample plug sockets (including USB options) and free high-speed Wi-Fi. If budget permits, consider adding office pods for privacy and a more professional atmosphere. This approach allows your customers to enjoy their time while also fulfilling their professional obligations.

Lean Deeper into the Experience Economy

Coined in a 1998 article by B. Joseph Pine II and James H. Gilmore, the Experience Economy focuses on selling goods and services by emphasizing their impact on people’s lives. This means businesses must create memorable experiences that transcend mere transactions.

Today's customers seek meaningful interactions and are increasingly aware of the environmental impact of their travels. To cater to this conscious consumer, consider hiring and training local guides or featuring products and services made by local artisans. This not only supports the community but also enriches the travel experience.

Sustainability

Sustainability is an ever-evolving trend that customers increasingly prioritize. They prefer to spend their money at businesses that demonstrate a commitment to environmental care.

One straightforward change is to eliminate disposable plastics. Transition to bulk dispensers for toiletries instead of using single-use plastic bottles. You can enhance this commitment by sourcing eco-friendly products locally.

Digitizing Your Guest’s Experience

Minimizing paper waste is another key area of focus. Digitizing the front-desk experience can streamline operations and enhance convenience for guests. Implementing a booking app can automate check-ins, facilitate contactless payments, and incorporate biometrics for room access. Many users are already accustomed to unlocking their devices with fingerprints or facial recognition and will appreciate similar options during their stay.

While these upgrades may require significant investment, automating processes can reduce the need for physical contact—an important consideration in the current climate.

The Bottom Line

The pandemic has significantly affected the hospitality industry, necessitating changes to keep customers safe while providing unforgettable experiences. While some of these improvements may come with a hefty price tag, investing in these trends can lead to meaningful customer experiences and support the community in which your business operates.

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