Every year, the hospitality industry learns and adapts to new trends. How customers interact with the hospitality industry creates room for further growth. As globalization increases, and traveling becomes more affordable, the hospitality industry sees a growing influx of customers. In order to succeed, it is important to not only adapt to the new trends, but also be aware of what the future may hold in the industry to anticipate how your hotel may grow in the future.
1. Hotels should become more sustainable and reduce waste
As the world understands the need for sustainability, the hospitality industry is not far behind. It has become evident that reducing waste will not only be cost-effective but also environmentally useful. Sustainability is not an easy task to achieve for any industry, however, it is about having the right mindset from the start. Being sustainable includes but is not limited to avoiding disposable plastics, and making sustainable decisions at every step even as little as which soap dispenser to install in a hotel after renovation. Replacing miniature toiletries with dispensers, using ethically produced bed sheets or reducing electricity consumption by installing smart bulbs may seem like a small change, but may well be a step in the right direction. Another simple yet futuristic solution is incorporating more digital methods of payment, check-in and operations. These changes will help in eliminating paper consumption, helping you become more cost-effective and creating a digitalised experience for your guests while being sustainable.
2. Guest experiences should be digitalised
Almost every industry is incorporating technology as a way to move forward. Apps have become increasingly important in how hoteliers manage a variety of services. Apps also control various aspects of the guest cycle and the overall customer experience. Contactless services have become inevitable in the industry. Traditional hotel services are being replaced by technology-assisted options such as mobile check-ins, biometrics, contactless payments and more. The more hotels create digitalised experiences for their customers, the better their chances will be in creating more opportunities for themselves. Customers will receive digitalised services one way or the other, the question stands: Will your hotel be prepared for a more digital world and compete with hotels who are already ahead in the curve of digitalisation?
3. New asset management strategies are required
Keeping in mind this race to digitalisation, it is also important to grow your assets and become more profitable as a result of digitalisation. But how can that be achieved? The separation between operators and investors has allowed each of the two to focus solely on their own tasks; however, the future success is dependent on digitally connecting hotel operators and investors in order to streamline their goals and achieve certain KPIs together. Currently, asset managers are overwhelmed with the multitude of reports sent in by a variety of operators. 80% of an asset manager’s time is spent on collecting data and becoming a data manager instead of focusing on what truly matters – which is: How can investors grow their assets? Therefore, new asset management strategies are required where asset management reporting needs to be digitalised.
With that need in mind, Fairmas’ BI solution ‘Digitalised Asset Management Reporting’ is a hospitality industry trendsetter for 2022 and a token to future success. By introducing Digitalised Asset Management Reporting and connecting operators and investors in a way that not only reduces an Asset Manager’s workload by 80%, digitalised asset management reporting takes over the complete task of being a data manager and empowers asset managers to focus on what truly matters: Growing assets and increasing their profit for a better future.