If there’s one thing the hotel industry has excelled at in the past few years, it’s adaptation. Whether it’s the curveballs thrown by the pandemic or the more recent hurdles of inflation, rising costs, labour shortages, and evolving guest expectations, we’ve been learning to adapt, be agile and respond to shifts in the industry and our environment. To stay ahead, it’s crucial that we keep informed about the latest trends and developments in our industry. We’ve had a busy 12 months speaking to hundreds of leaders in the hotel and accommodation industry, we’ve narrowed down our top five trends that you need to be across this year.
1. Artificial Intelligence
Artificial intelligence is having a huge impact on society. Reports indicate that AI could potentially triple economic growth rates by 2030, and the ways in which we can use this powerful tool are endless. As a hotelier or accommodation provider, it’s important to understand how to leverage AI tools, because this can significantly impact the way you operate and provide services to guests. By automating and increasing efficiency, you have the opportunity to free your staff to focus on more important tasks, like building relationships and providing personalised service to guests. And prioritising relationships is what keeps your guests coming back for more.
If you want to learn more, check out the Hotel Marketing and Small Hotelier Summits where we’ll deep dive into the world of AI for marketing and explore tools, strategies (and precautions) to consider when using AI. Over on the Revenue & Distribution Summit, we’ll look at using AI in market segmentation, allowing you to predict patterns, personalise offerings and ultimately drive profits. At the Hotel Technology Summit, we’ll uncover how to leverage AI to streamline your operations, ultimately saving you time and money and at Design Talks, we’ll explore how AI is being used in construction and supply chain management. Whatever your experience with AI, our speakers and panellists are experts in their fields and will provide valuable insights into how to make AI work for you.
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2. Sustainability
The demand for sustainable accommodation is on the rise, and it’s clear that your guests are getting more conscious about the impact of their travel choices.
Recent studies show that a majority of travellers now prefer sustainable travel options. Your customers are actively seeking accommodation that prioritises environmental and social responsibility. So, as a hotel or accommodation provider, it’s essential to step up and integrate sustainable practices into your daily operations. By doing so, you are not only attracting environmentally conscious guests but also gaining a competitive edge in the market and enhancing your brand reputation.
Sustainability should be on everyone’s agenda in 2023. Embracing sustainability is not just a trend; it’s a smart business move that aligns with the evolving preferences of your customers.
That’s why at NoVacancy, we have an entire summit dedicated to helping you achieve your goals. We understand that taking the first steps can be challenging, so we have assembled a stellar lineup of experts to share simple yet effective initiatives that can make a big difference to our people, profit and planet. We’ll explore successful sustainability initiatives that not only work, but also have the potential to boost your revenue; how to measure and communicate your sustainability metrics; explore waste management and explore solutions to common challenges we hear about time and time again. We’ll also explore how hotel design can contribute to minimising your environmental footprint from day one.
Make sure you check out the Sustainability Zone – an area dedicated to showcasing the most innovative companies and their cutting-edge sustainability solutions. Explore a curated collection of the best eco-friendly products and services to meet all your sustainability needs from FF&E and sustainable lighting, to energy and cost saving solutions.
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3. Leveraging Technology to Enhance the Guest Experience
It’s an exciting time in the hotel technology space. New technologies are emerging with the ability to alleviate pressures, help you save time and money and enhance the overall guest experience. Mobile check in is continuing to gain popularity as guests appreciate the convenience of the contactless process. From AI and cyber security to smart rooms, WiFi, personalisation, marketing tools, payments, and digital touch points, there’s a huge amount of tools to explore that can help you improve efficiency and guest experience.
But in a service-focused industry, how can you leverage technology while maintaining that essential human touch? And with so many options in technology, software, and hardware, how do you determine what you need, what’s right for your hotel, and how to make it work effectively?
We’ve got you covered at NoVacancy. The Technology Zone features the most innovative tech companies showcasing the solutions you’re looking for right here on the expo floor, from robotics, smart room solutions, automation, communication and payments software and many more. Not only that, we’ve also got an entire Hotel Technology Summit dedicated to helping you navigate the noise and find what’s right for you. Our panellists will share stories of triumph, challenges, guest feedback and lessons learned in the tech space. We’ll help you leverage the right technologies for your unique needs and budget, ultimately helping you enhance the overall guest experience.
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4. Rising Costs
As we continue to navigate challenges thrown at us by the pandemic, we’re now having to navigate the rising cost of living, inflation and economic uncertainty. Inflation has remained at a high average of 7% globally. Not only are labour, energy, and commodities becoming more expensive, guests are also feeling the pinch of the cost of living, which impacts your guests ability to prioritise spending on hotel stays and experiences.
This means it’s important to think innovatively to grow and adapt. By actively exploring new opportunities to enhance your offerings and reduce costs you can drive sustainable growth, even during economic uncertainty. Check out the Revenue and Distribution Summit, where we will be looking at practical strategies to boost revenue across all departments. We’ll cover smart pricing strategies, optimising your distribution strategy, and understanding your guests booking behaviour, so you can optimise your revenue even in our uncertain economy.
Over on the Hotel Marketing Summit, we’ll cover a range of topics that focus on the most cost effective marketing tools for your hotel, from marketing strategies to suit your budget to saving costs by using your phone to create professional quality video and photos. At the Small Hotelier Summit, we’re also prioritising your budget, where we’ll delve into low cost and no cost tools that make a big impact. Don’t miss the Hotel Technology Summit, where we’ll explore the technology that can streamline your operations and ultimately save you time and money. And at the Hotel Leaders Summit, we’ll explore the burning topic at the front of everyone’s agenda – going beyond traditional work perks to ensure you can recruit and retain the skilled staff you need to keep your hotel thriving.
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5. Staying One Step Ahead
If there’s one thing we can rely on, it is that change is constant. The hotel industry is always evolving and adapting to local and global markets, and keeping up with the ever-changing customer expectations that influence them. By understanding the market and predicting future trends, you can plan ahead, adjust pricing strategies and attract guests year-round.
While we may not have access to a crystal ball, we do have the privilege of being joined by the brightest minds and most influential leaders in the hotel, accommodation and tourism industries. With their data-driven insights and predictions, you can anticipate the exciting trends and developments that await us in 2023 and beyond.
Don’t miss the Hotel Leaders Summit, where Destination NSW CEO, Steve Cox will share the essential trends, outlooks and opportunities you need to know. Join our stellar lineup of C-Suite leaders who will delve into the current challenges and opportunities faced by the industry, and how to create a culture of well-being during these turbulent times. You’ll also get your essential data-driven industry insights. At the Sustainable Hotel Summit, we’ll explore the latest insights into sustainable travel, and we’ll use data to uncover actionable insights to position ourselves for success at the Revenue and Distribution Summit. Thinking of a refurb or new hotel design? Head over to Design Talks to explore the future-forward trends to keep on your radar.
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