As hoteliers it is important that we keep abreast of industry trends and lasting changes that may affect our hotel’s bottom line. Such is the case when we begin to look at the next generation of travelers who do not regard luxury hotels as simply an exclusive facility for lodging and services.
As Veronica Waldthausen of HVS Global Hospitality Consultants told Hotel News Now in a recent report, “Hotel luxury is no longer a thing, such as a white tablecloth restaurant, but rather an experience, such as the opportunity to soak in local culture or cuisine.”
“The new generation of travelers isn’t looking for a rich type of luxury,” said Waldthausen, “People may come in ripped jeans and arrive on public transportation. They’ll wear Converses and a simple t-shirt, but they’ll go to the bar and drink champagne and spend their money on nice dinners with friends.”
This is but one example of how the rules of the hotel game have totally changed. Hotel lobbies are quickly evolving into guest “living rooms” since Millenials prefer to hang out in an informal setting. In-house bars and restaurants become less important to this new generation of travelers, preferring instead to seek out a cultural experience by frequenting local bars and restaurants in the area they are visiting. Although Millenials are still a small portion of the industry’s market, they are the future and their numbers continue to grow each year to the point that some niche hotels are taking notice by offering services that cater to them.
The question is whether or not more hoteliers will initiate projects to cater to these new tastes. Indeed, as another recent article in Hotel News Now points out, Millenials are not always loyal clients and therefore Hoteliers will need to carefully consider, now more than ever, if adapting to this new generation can become a wild goose chase that ultimately leads to nowhere or whether or not this is a trend that is here to stay.