Millennials as Hospitality Customers
With only five years to go until we reach 2020, it is time to look into predictions on how our industry will evolve! And what better topic to focus on first than “Millennials”; with all of the recent craze about this demographic becoming dominant in our industry, it’s worth looking into it with more detail.
Six Predictions:
- 50% of travellers will be millennials by the year 2020
- They will have tremendous travel spending power
- They will be drawn towards new/modified concepts, hotels included
- Millennials will prove to be unafraid to try new hotels/brands; it’s about the global experience
- The cool factor will continue to be important for millennials; Can I Instagram it? Can I tweet about it?
- They will be driven by indigenous, independent and authentic experiences
Six Trends:
- Information: as it’s happening now, quick, real and relevant
- Social media: free Wi-Fi, technology that works to support millennial life styles
- Social interaction: high energy (on/off line), the need to be/stay connected
- Hotel booking: shorter confirmation windows, last minute snap decisions for great deals
- Balance: interchangeable work/social space; eat, socialize and work in the same zone
- Mindset: socially responsible, supporting green efforts
To read the full article please visit Interview
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Asim H Ibrahim is the Founder/CEO of Lakeshore Hospitality Group, a consulting firm with roots in customer service and hospitality sector. You can find him on Twitter @LakeshoreHGroup
Strategy || Engagement || Experience•
9yOne can predict a jostling trend in the coming near future and survival hugely depends on delivering 'value-for-money' (from the customer's view point)
Chief Executive Officer, Chief Operating Officer, Luxury Hotel & Multi Property Leader / NLP Business Practitioner and Coach
9yhot topic in all industry today!
Global Hotelier & Restauranteur
9yAll of this makes traditional forecasting much tougher. Great article.
Clinic Director and Registered Psychotherapist at Real Life Counselling
9yAsim H Ibrahim, great post! I have a vested interest in Millennial topics. Your article resonated well with me, as the host of "It's All Millennial". I would agree, Millennials are looking for uniqueness in their travel experiences. We want the place to feel hip, unique, and special enough to share with our friends (Instagram!). Millennials have a need to break the trend we grew up with, the "white picket fence" lifestyle, so our accommodations (i.e., hotels) will reflect the same. Not to mention, perks for staying at your hotel too.