Tag: managing director

Briefing: Guest experience is better with latest tech

Posted on by Guy Lean

In a new report from Zebra Technologies, 66% of hospitality guests said that they have a better experience when hotels use the latest technology. Mobile phones and location technology are at the forefront of technology developments in hotels. Smart phone uses range from unlocking rooms, to receiving text notifications about room readiness, to receiving location based offers. The report found that 40% of guests currently use hotel apps and 70% of guests want to use technology to speed up the service they receive.

In these videos four experts discuss upgrading experience with technology:

For a long-time, hospitality businesses have been seeking to create more personalised experiences for guests through technology. The results of Zebra’s 2016 Hospitality Vision Study suggests that guests today are interested in receiving personalised treatment across the room, entertainment, and concierge elements of their stay. 86% say they are interested in having a room selected based on personal preferences such as room/window location and bed configuration. 81% say they would like to receive a personalised list of restaurants/ activities and directions, and 70% say they would be interested in receiving location based coupons and specials.

Hotels are starting to look at what they can do when they have the ability to track their guests’ locations. 74% of surveyed hotels/resorts are planning to implement location-based technologies within the next year. They would be able to track a location when the guest has a hotel app on their phone that they give permission to access their location data – in the same way that a map app uses the phones location to show a route. Then the hotel can send messages and offers that are more relevant to the guest at the time, and would know whether the guest is inside the hotel or out-and-about.”

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

Briefing: No two career paths are the same

Posted on by Guy Lean

There are a great many people who have worked their way up the hospitality ladder to success, but there are also many who find their career path takes them into hospitality through less conventional routes. A recent survey shows that the number one reason professionals would seek a new job in 2017 is that they need a more challenging position. When seeking this challenge, people can find unexpected opportunities.

The week our experts discuss their career paths and how they got involved in hospitality:

According to Korn Ferry, challenge is the overwhelming driver of change with 76% of people stating this as the top reason to seek a new job. There are several other elements that can also influence a professional seeking new employment. The other factors stated in the study are; the professional’s efforts not being recognised in their current job (9%), the professional not liking their company (9%), or their boss (4%), and compensation being too low (5%).

Making career leaps to follow opportunity can involve changing industries or even countries. One very attractive element of the hospitality industry is that it offers great opportunities for travel and working abroad. HSBC’s Expat Explorer Survey found that 43% of millennials who have moved aboard were motivated by finding a new challenge, and 49% of expat millennials say they find their work more fulfilling in their host country than it was at home.

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Data culture creates new risks

Posted on by Guy Lean

Data has become a key tool that a hospitality business needs to perform at its best. Now businesses must recognise the importance of using the data they have in a responsibile way. A misuse of data could be a risk to a business and could destroy trust between it and its customers. The latest research by Accenture has found that 83% of executives agree trust is the cornerstone of the digital economy.

Four hospitality experts discuss how they work with data:

As these videos show, in hospitality data can help deliver better service, and help understand how products can be marketed. It is very beneficial to embrace this in your business and culture. Technology systems in the industry are getting better at gathering and uniting data. But there is still a way to go for optimum use.

New risks arising from data use should be present in the mind of any business that take data on. According to Accenture; ‘81 percent of executives agree that as the business value of data grows, the risks companies face from improper handling of data are growing exponentially.’ And ‘80% of executives report strong demand among knowledge workers for increased ethical controls for data.’ Risk can come out of using customer data in ways they did not agree to, or unethical use of insights taken from data.

A report form Sabre suggests that with all that data use requires continual refinement as more sophisticated computer programs are created to automate data analysis processes and more and more objects become able to capture data as the “Internet of things grows”. Sabre say that “we’re still several years away from having a robust understanding of how this degree of information will change how we conduct business.”

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: The value of thoughtful recruitment

Posted on by Guy Lean

Recruiting new ways of thinking into your business can be very advantageous. A study by Delloite says that ‘diversity of thought’ within a team can ‘help increase the scale of new insights’ and ‘guard against overconfidence’. Teams that hold a variety of skillsets, identities, and backgrounds will challenge each other and encourage learning and innovation. Whoever you choose to bring into your business, ensure you are supporting them to achieve their best.

Our experts look at the importance of thoughtful recruitment and training:

The advantages of having diverse teams, beyond the immediate social importance, is noted in various studies. McKinsey found that ethnically diverse companies are 35% more likely to financially outperform competitors. While a study in a PNAS journal revealed that traders in diverse markets were better at accurately pricing stocks.

When recruiting new employees you should consider ‘what they can bring to the team’, and also what they can bring out in a team and what you can bring out in them. Think about more that filling a gap and relying on old habits and assumptions, but really look at how they can fit in the business and work to help them develop, as discussed in the above videos.

A drive for recruitment and upskilling in the industry is needed this year is especially in light of Brexit, which could see UK hospitality businesses losing many of their valuable staff. BHA say that “Assuming that 10% of the EU workforce (70,000) leave the sector and/or the UK each year and the industry’s total headcount grows by a conservative 1% (45,000) annually, the annual recruitment need is for over 100,000 people.”

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Trust issues hold back the Sharing Economy

Posted on by Guy Lean

New research shows that the Sharing Economy in the UK is being held back because of a lack of trust and understanding. A survey by Trust Pilot found that 29% of people have previously avoided using a sharing economy platform because of a lack of clarity on who would hold responsibility when something goes wrong. The survey also found that 42% of people would usually wait until a friend or family member has used a sharing economy scheme before using it themselves.

In these videos our experts discuss the impact of the sharing economy in hospitality:

A separate survey by Veridu also found similar results.  The survey states that ‘A lack of understanding of the Sharing Economy in the UK is impacting growth with 41% of respondents citing this as a reason for not participating.’ Other reasons given for avoiding participation were unwillingness to share possessions with strangers (41%), concerns for personal safety (34%), and worries that possessions would be damaged (29%).

Some Sharing Economy business have grown faster than others, and Airbnb is a clear success story, although it still has hurdles to overcome. Trust Pilot’s survey found that 58% of respondents had used property rental sharing economy services (e.g. Airbnb) whereas only 28% of people has used private car loan services or car sharing schemes (e.g. Zipcar).

With word of mouth remaining such a strong driver of growth, trust is sure to keep growing over time and emerging Sharing Economy business will continue to present competition to more traditional business.

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Pipelines, predictions and provinces in the UK

Posted on by Guy Lean

According to STR’s July 2016 Pipeline Report, Greater London has the most ‘rooms in construction’ in Europe, with 5,400 rooms in 32 hotels. PwC reports that the UK accounted for about 60% of European M&A volumes in 2015. The UK continues to be a strong market, although it is not without its complications. The EU referendum and the introduction of the National Living Wage have been two issues affecting the UK’s hospitality industry this year.

In these videos hospitality experts discuss business in the UK.

Figures from STR for Q2 2016 show that the UK has experienced steady results across three metrics: occupancy (-0.7% to 78.9%), ADR (+1.7 to GBP89.71) and RevPAR (+1.0% to GBP70.82). STR analysts say it is still too early to quantify the impact the vote for the UK to leave the European Union has had or will have on hotels and the European hotel industry as a whole.

Since April this year workers over 25 in the UK have been entitled to a National Living Wage of £7.20 per hour as compared to the minimum wage (previously applied to anyone 21 and over) of £6.70. This is great for the many minimum wage employees working in hospitality in the UK, but has also meant an extra budget consideration for managers. Predictions from PwC last year showed that this National Living Wage would increase the wage bill for Hospitality and Leisure by £2.2m in 2016 and £13.2m by 2020.

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: The distribution channels keep coming

Posted on by Guy Lean

In June, Ryanair announced its intention to enter into the world of accommodation. “Ryanair Rooms” is just the latest addition to the changing sphere of hospitality distribution. The company has 116m customers and this move from air travel to accommodation booking, again highlights the potential for any established brand to disrupt the industry. There is still much debate around where Airbnb, which has a “mission to change the way people travel”, could sit in the industry in the future.

In these videos, experts discuss developments in distribution and booking behaviour:

In April this year Airbnb launched an updated mobile app with a focus on personalisation that aims to match people to better hosts, neighbourhoods, and experiences. This product indicates Airbnb’s continued effort to use developing technology as an edge.

Ryanair Rooms will launch on the 1st October, and will provide a variety of low cost accommodation in the form of hotel rooms, hostels, B&Bs, holiday villas and homestays. Diversification is a common move from aspirational business in today’s business world. Ryanair sees this as a natural progression towards Ryanair.com becoming the “Amazon of air travel”. Ryanair already has a hire car service which it launched last August.

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Political risk from ‘Brexit’

Posted on by Guy Lean

The EU referendum, which will take place in just under a month in the UK, has been the cause of much political debate. Fears have been stirred up about the potential negative impact of either outcome. But how has this affected investor sentiment and how would the UK’s exit from the European Union impact business in the hospitality industry?

Four hospitality and investment professionals discuss ‘Brexit’:

The referendum is just one example of how political uncertainty can affect business. Any potential disruption or change to regulations and the way business is done could be classed as a ‘risk’ that need to be factored into a business’s decision making at least in the short term.

Some examples of warnings arising throughout the campaigns, about the longer term effects of the decision, are that Leaving the EU would ‘spark year-long recession‘ and that Staying would increase the UKs population and put the NHS under “unsustainable” pressure.

Last year ICSA reported that 63% of boards said a UK exit from Europe could be potentially damaging to their company.

The European Union – often known as the EU – is an economic and political partnership involving 28 European countries. The UK’s exit from the EU has the potential to impact everything from immigration, to the environment, to procedure around working abroad, to law making itself.

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Purpose built products for diverse consumers

Posted on by Guy Lean

A new trend report from Sabre has announced that ‘Demographics are dead’. You can no longer presume what any one consumer group will want, but you can build products that meet new expectations and invite individuals to enjoy them. The report says ‘Consumers love brands with meaning and personality’ and that 63% of global consumers claim to buy products and services that appeal to their beliefs, values or ideals.

These videos discuss creating products to meet consumer needs:

There is a growing consumer awareness of what is possible. There are many niche needs, new trends and individual desires that can be catered to with carefully designed products. The report states that 65% of consumers say bands should take a leading role in supporting individual happiness.

As the above videos reflect, many new products are fighting cater to new consumers’ needs but a strong identity and a unique angle, be it experience or price, can set a brand apart.

The study also identifies helpfulness and personalisation as two key elements of future hospitality products. Generic advertising is losing popularity. Instead brands must connect with individuals and demonstrate an understanding of them.

Trends in Sabre’s report were identified by TrendWatching, powered by a global network of 3,000+ trend spotters.

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Corporate travel demand is growing

Posted on by Guy Lean

According to Reuters, spending on business travel in Western Europe is expected to rise by over 6% in 2016. This is good news for serviced apartments and extended stay products, which see a lot of demand from this sector.

A report from the Association of Serviced Apartment Providers states that UK businesses registered an 86% increase in the use of serviced apartments in recent years. They also say that Booking.com is experiencing strong growth demand for serviced apartments.

These videos discuss corporate travel and serviced apartment demand:

A report by Accura Media Group found that four out of ten business travellers surveyed said they will travel more in 2016 than last year, while more than half say they will travel more than they did two years ago.

According to Reuters, Germany is the largest business travel market in western Europe at an estimated $57.9 billion, and spending is set to rise 9.5 percent in 2016.

In contrast a new report from the Global Business Travel Association found that business travel volume growth in US is slowing in 2016 due to global uncertainties, but the report still says there are reasons to be optimistic for 2017.

Association of Serviced Apartment Providers found that occupancy figure for serviced apartment across the whole of the UK were high. London was at 84% and the rest of the UK just slightly lower at 83.1%.

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

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