Dubai, Hong Kong, London and New York: only a few of the favorite dream workplaces for hospitality graduates. Something about them shouts luxury, reminding us of our deepest ambitions and ideal career ladders. For a long time, their competitive managerial job offers together with their reputation for exclusive holidays, have signaled nothing but success to us. The flashing lights of these big cities are obviously overwhelming for both hoteliers and tourists. However, do they really offer the best opportunities and potential today?
The needs of customers have dramatically changed since the massive world globalization and the digital revolution; and, unfortunately, many well-known hotel brands are struggling to adapt to them.
We all agree that running a business today is more complicated. The substantial developments in the tourism sector have led to larger choices and more demanding customers. The way we research, book and plan our travels is faster, easier and much more fun.
While the traditional hotel chains move slowly through a strategy transition by exhaustive market analysis and large structural changes, many young entrepreneurs have started to reinvent the hospitality world. It’s not a surprise that the two founders of the CitizenM Hotels are having so much success by featuring a new business model based on “affordable luxury for people”, introducing “the end of the hotel room as we know it” and a hybrid between leisure and business, called “bleisure”.
Consumers are the ones driving the change in the hotel industry. Destinations responding to their concerns and habit are on the top of the list; that is why the concept of “lifestyle hotels” has been adopted by major brands lately. However, there are still a lot of gaps to be filled and suppliers have a lot of potential to reinvent.