Catering to the aspirations of the millennial workforce
The hospitality industry has been witnessing substantial growth over the past few years owing to rapid advancement in technology, increasing disposable income and evolving consumer behavior.
Interestingly, the millennial generation (defined by age as being born between 1980 & 2000) has been driving the industry and urging the hotels across the globe to adopt newer ways and outlook to engage with the guests.
As a result, the hotels are prompted on refocusing their business strategies to tap this increasingly evolving and digital-savvy generation and deliver a wow experience to this new generation of travelers. According to research reports, the millennial travelers already make up for over one-third of the world’s hotel guests and are expected to reach over 50 per cent by 2020.
Therefore, in order to attract and retain customers, offering bespoke experiences to the guests will be of primary importance.
And, as the hospitality industry gears up for the biggest disruption in decades, key attributes like design, experience, mobile and perceived value are imperative for attracting the millennial traveller.
Today’s millennials are techsavvy and have continuous access to unlimited information on the Internet. They are always looking for something better, cheaper & faster and travel to gain experience and knowledge. This generation relies greatly on social media for their informational needs and reviews matter tremendously to them before they make most of their buying decisions – which includes their travel and stay choices. Hence, it is important for hotels to leverage social media platforms to stay connected with these customers and keep them informed about their latest offers and let them know what’s happening in the hotel. Also, an impressive and inclusive site of the hotel makes it convenient for them to share it amongst their friends for seeking suggestions or making recommendations.
Millennials prefer contemporary dwelling spaces and demand smart technologies and access to information at all times.
Therefore, hotels are now focusing more on creating spaces that are equipped with smart technologies and provide 24/7 connectivity. Millennials are more environment conscious in general and prefer eco-friendly and sustainable stays. Millennials are increasingly looking for meaningful experiences while they travel. To cater to this need, hotels are gathering guest data and analyzing it to offer guests customized experiences that will increase customer loyalty.
Seamless experience is the quintessential requirement that a contemporary millennial traveller seek and crave for the convenience of constant connectivity. The millennials also prefer to travel to offbeat destinations and are not limited to planning holidays to conventional tourist spots. Today, it is all about paying attention to the smallest of details and bespoke personalization and curation play a major role in fulfilling the expectation of the Millennials. The dynamics of luxury travel is changing and millennials want better value and premium services and budget constraints don’t seem to play a major role in the hotel choices.
Customer satisfaction is an imperative thing which drives the hospitality industry. The millennial traveler looks for not just quality but exceptional, personalized service and demands it on the spot. Millennials want and seek out international standards of excellence in the hotel of their choice. Millennials are also getting more health-conscious nowadays. And, in order to cater to this demand, hotels are giving various options such as wellequipped fitness centers, pools and spas, air purification, yoga spaces, in-room exercise equipments and vegetable-centric cuisines.
The youth makes up approximately 70% of the population and hospitality industry has shown great alacrity to capture the loyalty of this new tribe of millennial guests and are already reaping its benefits with an upswing in their business. Therefore, it will be imperative for the hotel industry to continue innovating and keep pace with the customers’ changing lifestyles and define their strategies based on the demographic groups and personality traits.