Latest Hospitality Management Trends Students Should Know! | NITTE Blogs

Latest Hospitality Management Trends Students Should Know!

Since 2020, the hospitality sector has witnessed a massive shift. Through 2022 and 2023, this period of change is expected to continue, with demographic and technological changes, as well as the post-pandemic adjustment to a new normal, all playing important roles.

Because the hospitality sector is so competitive, firms must stay on top of emerging trends to stay ahead of the competition. An excellent method to make sure your company offers the kind of customer experience people want and expect is to keep up with the industry as a whole.

Here are the top hospitality trends students should be aware of-
  • Bleisure travellers & hotel work spaces- Many employees now regularly work from home, and this trend is expected to last longer than just the moment. An unprecedented number of well-known businesses, led by major tech players like Twitter, Facebook, and Amazon, have stated that they will take a hybrid or flexible approach to work remotely, a trend that has been driven by the worldwide public health issue. The percentage of people who are permanently employed remotely was projected to double just in 2021. This means that hospitality venues are introducing make-shift offices for such travellers, and also the locals seeking a change of work environment. This is an excellent chance for hotels and F&B venues to capitalise and adapt these trends to meet the needs and wants of this emerging segment.
  • Health & Well-Being Measures- Unquestionably, after the epidemic, self-care and preventative medicine are in popularity. Hospitality establishments, especially those with existing spa facilities, are well-positioned to seize a sizable chunk of the wellness industry's soaring trillion-dollar market. In addition to the typical spa offerings for relaxation and beauty, there is a quickly expanding market for health diagnostic technology and customised treatment plans provided by professionals who lead individual or group sessions to promote vitality, healing, stress management, emotional balance, mindfulness, and improved sleep.
  • Digitalised guest experiences- With the ability to currently handle many areas of the visitor cycle and experience, apps are becoming more and more significant in how hoteliers manage the services they offer to their clients. It goes without saying that since 2020, the movement toward digital and contactless services has picked up steam. The more common usage of technology-assisted alternatives, such as smartphone check-in, contactless payments, voice control, and biometrics, is transforming traditional customer-facing services.
  • Personalisation- People nowadays demand to be acknowledged as individuals and treated with respect. Businesses are going above and beyond to personally welcome visitors, and platforms like Mailchimp and Zoho have made personalised email marketing accessible to anyone, providing communications that are extremely target-audience specific. Data provides insight into past purchasing behaviours, allowing hotels to personalise their offers and promotions and automatically provide similar services like old stays. This goes well beyond merely adding the customer's name to email pleasantries.
  • Asset Management Strategy- The asset-light strategy has gained popularity in the sector. The management of operations and real estate assets is now separated, allowing hospitality businesses to focus on their primary operations and increase efficiency. However, it results in increased complexity and potential agency issues, which explains the creation of new occupations like asset managers. In addition, new job profiles have evolved as a result of the hotel industry's growing complexity. Parallelly, there has been an increase in the demand for mathematical skills (budgeting, forecasting, etc.).
  • Staycations- A staycation is a vacation spent at home or a short trip that one takes to a nearby location for a vacation. The popularity of the staycation in 2020 and 2021 has been aided by travel limitations. Despite the fact that international travel is once again becoming more accessible, many people believe that going abroad is either too expensive for a large family vacation or not worth the hassle for the weekend getaways of the past due to airline price increases, Covid testing requirements, and the complicated bureaucracy involved. Therefore, choosing the staycation trend instead or just travelling much less than before the pandemic.
  • Solo Vacations- In the era of mindfulness, many people have embraced the meditative benefits of spending time by themselves and exploring the large, wide world without any restrictions, engaging and making friends to the extent that suits them. The borders between hotel employees and guests are being dropped, homey-inspired interior design choices are being made, and a relaxed atmosphere is being fostered in an effort to help solo travellers feel at ease. This fosters a sense of hotel community combined with a less pronounced barrier between visitors and residents.

These trends are setting new benchmarks for the hospitality industry. As a result, these trends can be a fantastic opportunity to capture the growing market. The hospitality industry looks for people who are well-versed in these new concepts, which might be a game changer for your career in hospitality.