As another year comes to an end, it’s important to take stock of the year that’s been and what’s yet to come. Travel, of course, is as important as ever and it’s certainly evolving the hospitality industry at an extremely rapid pace. Concepts that were never-heard-of-before are trending today. Aditya Sanghi, CEO & Co-founder of Hotelogix, a hospitality technology solution provider presents a glimpse of the key travel trends that are going to rule the roost in hospitality in 2018.
Top 5 Travel Trends that will drive Hospitality Industry in 2018
Europe shall experience an occupancy boom:
PWC’s global statistics show that in 2018, the hospitality industry in 15 cities across Europe shall be crossing over 70% occupancy. Despite the recent protests against tourists, Barcelona is expected to be the 3rd European city with the highest occupancy rate in 2018. Europe attracts a lot of corporate travel due to the numerous MICE events that take place in the continent.
Alliance between home sharing companies and hotels:
The line between traditional hotel listings and home-sharing might blur in 2018 as specialists in one area plan to branch out into others. Of late, hotels are seen getting immensely worried with the way home-sharing companies such as AirBnB are encroaching upon their businesses. With presence in over 65,000 cities and more than 3 lakh rooms on offer, AirBnB has become top on the travellers mind.
Everyone from solo travellers to groups and now even business travellers are opting to book with these home-sharing platforms. In fact, as per some statistics, today, 33% of group rooms look at options beyond hotels. Looking at this growing trend, hotel chains such as Accor, Hyatt, Wyndham hotels and resorts have started investing in home sharing companies and are looking at working in association with them.
Together as a team, they can offer more options to guests and cater to a wider audience.
Increase in travel pricing:
Good news for the hospitality industry; due to the strength in global economy, The 2018 Global Travel Forecast indicated airfares to increase by 3.5%, hotel prices to increase by 3.7% and ground transportation to rise by .6%.
Creating unique and local experiences:
Millennial travellers today look for native experiences when they travel. From exploring the local culture to ticking off the bucket list they want to experience everything but in a different way. That’s why we see hotels across the globe partnering with local vendors and travel companies. This trend is definitely expected to witness some out-of-the-box ideas in the coming year. For instance, AirBnB has started offering experiences on their website to entice more customers.
The changing role of travel agents:
With numerous OTA options, travellers nowadays don’t really require a travel agent to book their tickets or hotel stays, especially since OTA’s offer more competitive pricing. The role of a travel agent is slowly changing and advancing to be a travel consultant. In the coming year, travellers will expect more specific packages, catered personally for them keeping their or their group’s needs and wants in mind. They will be seen catering to varied preferences – all women’s trip, solo trips, senior citizen trips and so on.