• 14
    July
    2016

    Top Trends in Hospitality Management Industry in 2016

    The global hospitality industry has seen vast evolution in the past several years. Its global revenue witnessed a considerable rise from $447 billion in 2008 to an expected revenue of $550 billion in 2016. The hospitality and travel industry has undergone a substantial transformation, and the technologies that have induced this change are also growing fast. This industry has seen development and changes in its business, marketing and technology trends over the years that are set to take root and impact the sector as a whole in 2016 and the coming years.

    The top trends in the Hospitality Management Industry that are set to improve the industry and add to its revenue in 2016 are as below:

    Innovative Technology:

    The rise in the use of mobile technology as an integral part of the day-to-day activities has made our lives simpler. The travel, tourism and hospitality industry has adopted technology to bring insights into all the processes going on in the industry. Mobile devices and applications will give customers access to all the information and services offered by the company at their fingertips. More than 3 in 4 travelers agree that smartphones and apps are vital and critical in making decisions while choosing for hotels while traveling. Hotels today have their own application that let customers book rooms and check-in using their mobile phones. Guests can now choose their room online, and check-in using their smartphone and go right to their preferred room without having to spend time at the hotel’s front desk. Guests can also use the mobile room key, a technology which lets customers access their room lock with a pass key sent to their cell phones while booking. For the food, customers can go through their e-menu and make decisions.

    Improved Customer Service:

    With the evolution of technology, digital travelers are increasing, and their expectation of getting more facilities at their fingertips has led to considerable challenges to the hoteliers. Customers prefer services that let them be self-sufficient and independent. They refer the hotel’s online applications or information to know about the hotel and prefer more genuine and high-quality service to recommend it to others. Tools such as quick-booking, dynamic package pricings, choosing amenities, etc. will help hotels gain more reliable customers. By creating a good impression and unique guest experience, hoteliers will be able to earn customers, be it with or without technology.

    Mobile Marketing and Mobile Commerce:

    Mobile Technology has made the hotel finding and booking procedure simpler than ever. More than 50% hotel bookings are carried out online. There are a number of online marketing channels such as display advertising, Google AdWords, e-mail marketing, meta-search, Google Business Listings and retargeting that allows hotels to show real-time pricing and room availability. The dynamic rate marketing is a commonplace in the world of online booking where customers can choose for the best and cheapest rooms from a number of competitors. Hoteliers are increasing their budget to invest in online channels, which help them in boosting their ROI and conversions.

    Reputation Management:

    Managing a property’s reputation is extremely necessary and with the increase in the use of TripAdvisor, Expedia, Yahoo, Facebook and other similar sites and social networking platforms, the process is getting crucial. Customers put their reviews and experiences about a particular hotel or place on sites and public platforms and others who wish to make a choice, go through these reviews and ratings. Hotel companies engage with guests and respond to their needs publicly through public discussion forums, which help them in driving more traffic for their property. Travelers access to these public reviews to make decisions.

    This year is likely to see considerable growth and profit in the hospitality management industry. Silver Touch is a leading IT solution provider explicitly serving and catering to the business need of global clientele since past several years. We have immense experience in delivering excellent hospitality software services and IT solutions. Write to us at info@silvertouchinc.com with all your business concerns and queries.

    Shruti Vasudevan

    Shruti is a technical content writer working with Silver Touch Technologies Ltd. She keeps keen interest in researching and writing on technical topics. She is a B.Tech graduate in Electronics and Communication and focuses on learning new things.

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