Briefing: CEOs seek skills for the future

According to PwC’s 18th Annual Global Survey, 61% of CEOs see more opportunities today than three years ago and 59% see more threats. We live in a dynamic world, business is being shaken up over and over again, but there are many ways in which business leaders can give innovation a place to shine in their organisations.

In this briefing four hospitality experts suggest that open-mindedness, flexibility, and investing in the right talent is key to success in an ever-changing world:

PwC’s survey of 1,322 CEO’s in 77 countries, found that 60% of CEOs are concerned about shifts in consumer spending and behaviours. A shift is certainly evident in the world of hospitality.

Having the right people in your organisation to be able to make the changes demanded by today’s consumer is important. It is also challenging. In PwC’s survey 73% of CEOs stated that they are concerned about the availability of key skills. This worry has been growing over the past years. According to PwC’s Global entertainment and media outlook 2014–2018, only 46% of CEOs had this concern in 2009. In 2010 this tipped over to 51% and by 2014 was at 63%.

The Being Digital Workforce Report from Accenture looks more closely at digital skills in organisations. It found that 44% of business leaders say a lack of digital skills is a key barrier to transformation. It also found that 49% of business leaders have a strategy for the management and development of skills and talent in a digital world, which means that just over half of leaders have yet to prepare for this need.

Digital technology itself is being more keenly embraced. In PwC’s survey 80% of CEOs said that mobile technologies and data analytics are key strands of their strategy.

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Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Hospitality and tourism drive luxury consumption

The latest edition of the Bain Luxury Study has found that the overall luxury market exceeded €850 billion in 2014 and showed a growth of 7% overall. The report says that luxury hospitality (9%) was driving this growth, along with luxury cars (10%).

The worldwide market study states that: ‘The luxury-goods industry in most markets is now driven by touristic spending.’ It says that many tourists are willing to spend more when abroad than at home, and that this is particularly true of Chinese tourists who spend three times more when abroad. It is interesting to note that in 2014 luxury spending within China showed a negative trend of 1% growth for the first time since the study has been published. However, the consumer segment which report calls the ‘upper-middle-class “wannabe”’ in China is expected to double by 2017.

In this briefing experts discuss luxury brands and consumer behaviour worldwide:

In the hospitality market, luxury hotels have had steady growth (up 9%). According to the report it is ‘younger generations seeking superior lifestyle experiences’, who have helped to fuel 5% growth in the cruise market.

Research by the Travel Leaders Group found Luxury hospitality bookings in the U.S are going strong. The survey states that 92% of luxury oriented travel agents had increased or steady bookings in 2014.

The Affluence & Wealth Survey by Time Inc. and YouGov sheds some light on the luxury consumer. In a survey of high earning individuals (predominately American), 78% of people said they enjoy being treated like a VIP. 73% said they worry less about money while on holiday.

So how can brands appeal to luxury consumers? The Affluence & Wealth Survey found that 82% of people prefer brands that reflect their values, and 82% prefer brands that stay true to their history and heritage. There is also a strong use of mobile devices among luxury consumers. According to Criteo, 33% of Fashion and Luxury Transactions are on mobile.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Robot Staff: How technology is changing guest experience

It has been reported this week that a hotel at a theme-park in Japan is to be staffed by Robots. The Henn-na Hotel is scheduled to open in July and alongside some human staff it will have, ‘remarkably human-like robots who will be able to greet, carry luggage to rooms, make cups of coffee – and even smile’, according to the Telegraph article.

Our experts discuss changing technology in hotels:

This remarkable plan is taking technology in hotels yet another step in to the future. But whilst guests interacting with robots sounds extraordinary it is only highlighting the trend for changing guest touch points and the emphasis on experience in hotels.

Another new product launched this year was the very first Virgin Hotel in Chigaco. A new player in the hotel industry, the brand promises to be innovative much like Virgin’s other ventures. The hotel has its own app which guests can use to interact with staff and other guests, and to request services. The app can control the room thermostat, order room service, plays music from a built in music library, and displays messages from staff for updates on hotel events and the processing of the guest’s requests.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Hotels struggle to follow trend for personalisation

Companies using personalised marketing have experienced an average uplift in sales of 19% according to research. Personal customer service has always been key in hospitality; ‘A warm and sincere greeting using the guest’s name’ is step one of the Ritz Carlton’s three steps to service. With the increase in data that is being collected from guests, hotels should be able to recognise guests from previous stays and personalise service towards them, but it is not easy. Figures from UNWTO show that there were 1087 million international tourists in 2013 and 6 billion domestic tourists worldwide. With so many different faces passing through the doors it is hard for hoteliers to distinguish individual customer profiles as our experts discuss in this week’s briefing:

Many hotel brands have loyalty programs, which can help them keep a profile of each guest but even within this there are many people to keep track of. Hilton HHonors is Hilton Worldwide’s loyalty programme, which has 42 million members. IHG has 161 million guests nights per annum and its reward club has 82.4 million members globally.

Research shows that 78% of consumers feel that personalised marketing content leads to a deeper relationship with a brand. Personalisation is also used in online retail. 60% of consumers prefer it when online store remembers their contact details and purchase information. In a survey by Oracle 54% of retail consumers said personalisation was important. With customer service becoming more personalised across the board this will continue to be a challenge for hospitality to figure out.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: impacts of digital technology on hospitality

In the modern world the way we receive information and the place we go for news, views and updates is through a connected device. Whether that be a desktop, laptop, tablet or mobile, digital technology is so engrained in life that we don’t even think about it.

As an industry inherently involved in relationships with people, it is imperative that we embrace instant communication and have a strong understanding of how all these tools fit together. In this briefing we hear from 4 experts on how it is affecting the world as they see it. Including:

  • Peter Greenberg, Travel Editor of CBS News on the increased exposure digital platforms can afford you
  • Patrick Fitzgibbon, SVP – Development, Europe & Africa of Hilton Worldwide on why embracing technology is integral for success
  • Taras Ettl, VP – Development, Middle East & Africa of InterContinental Hotels Group on how technology has impacted IHG
  • Andrew McLachlan, VP – Business Development, Africa & Indian Ocean Islands of Carlson Rezidor Hotel Group on the communications revolution
 


If you’ve been sent to this page but you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interviews from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

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