top 10 trends for 2016
TRANSCRIPT
Top 10 Trends for 2016By
Robert A. Rauch, CHA
2016 promises to be the most profitable year our 2016 promises to be the most profitable year our industry has ever seen. We’ve identified the industry has ever seen. We’ve identified the following trends to help you maximize your following trends to help you maximize your business opportunities in the year ahead.business opportunities in the year ahead.
Top 10 Trends 2016: 1 - 5Top 10 Trends 2016: 1 - 51. Analytics Rule!
Everything is trackable now. Better guest insight = targeted campaigns Educate yourself before ad spends
2. Consolidation is only just beginning. The Marriott acquisition of Starwood and
the Expedia acquisition of Orbitz are harbingers of a consolidation coming in the hotel industry
3. Digital Marketing is dominated by two words: mobile and video. Live mobile streaming (Periscope, Meerkat, Blab) Average user consumes 65 minutes of video daily
4. Invest in Capex immediately. Take advantage now while money is available and cheap
5. Millennial Mindset trends toward group settings. John Naisbitt’s hi-tech, hi-touch experience Work, play and eat/drink spaces
Top 10 Trends 2016: 6 - 10Top 10 Trends 2016: 6 - 10
6. Optimal Channel Mix. Online travel agencies (OTAs) are having a
tremendous impact on distribution
7. Personal Engagement in the Digital Age. Engage guests via social media Mobile responsive websites Hotel Apps
8. Revenue Management 2.0 Science of hospitality Who is your most profitable guest?
9. Sharing Economy and Disruption Airbnb, Uber, etc. are here to stay Hotels need to be innovative and adapt
10.Soft Landing The party will not go on forever Hold back some money in reserves
Are youAre you#trending?#trending?Stay engagedStay engaged
with your guestswith your guests
The Bottom LineThe Bottom Line
The industry has become largely a science, not an art. Consolidation driven by a need to scale and
technology driven by mobile growth have changed the industry as we knew it. Take advantage of the best profit year ever in our industry but prepare for a soft landing in the future that will be caused by many of the concerns mentioned in my article.
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Robert A. RauchCEO & Founder, RAR Hospitality
Thank You!Thank You!