2021 is shaping up as a critical year for hospitality recovery and reinvention as countries around the world start to reopen to tourism. In this new report, Skift and Oracle Hospitality present the results of a 2021 global research study exploring business strategies, guest needs, and emerging technologies hotels will use to accelerate their recovery.
After a dramatic year for the hospitality ecosystem, the lead-in to summer 2021 is revealing signs of recovery. Global travel demand is at its highest since the beginning of the pandemic, as the industry finds itself at a promising turning point.
The impacts have been widespread. After a year of limitations and stay at home orders, consumers are showing new behaviors: a preference for self-service and contactless interactions, remote check-ins, short-term rentals, and greater vacation opportunities that merge work and leisure together.
With the growing demand comes high competition, and the battle for guests, room nights, labor, and revenue is likely to be fierce. How might hotels succeed in this new landscape and meet the emerging need? How can they evolve, adjust and re-prioritize for greater efficiency and profit in an industry of flux? And what changes in particular will be the most crucial?
To gain insight into these questions and a more precise lay of the land, Skift and Oracle collaborated on a global research study during spring 2021, focusing on the current thinking from hoteliers and guests on the post-Covid hotel experience.
The 2021 ‘Back to Hospitality: Getting Smarter and More Profitable in a Post-Covid World’ Report builds on the successful research collaboration that began in 2020, and hones in on how the current shifts might accelerate innovation, ensure resiliency, and open up new business areas in the future.
The report also focuses in detail on how non-room revenue may become a core attribute of the business mix, various strategies hotels can implement to compete with an upsurge in short-term rental bookings, how operations can be re-thought for greater efficiency, and what kinds of technology upgrades are required in the pursuit of greater service. The report also shines a spotlight on the geographical regions of Europe, Asia-Pacific, and Latin America, contrasting the differences in their projected growth and approach.
Drawing on insights from the expertise and experience from the report’s participants — over 500 hospitality executives and just under 5000 consumers worldwide — the report is designed to help better understand the pertinent opportunities and challenges, helping inform and guide the industry as it recovers during this pivotal rebound moment.
In this report, you’ll find:
- The results of a 2021 global survey of hotel guests and hotel executives on their changing expectations for the hospitality experience
- An exploration of how hotels can build their businesses back smarter and better following the Covid-19 pandemic
- A review of emerging non-room hotel revenue opportunities to help supplement variations in room demand
- A look at how hotel technology can help hotels exceed guest expectations while running their properties more efficiently
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Tags: cloud technology, contactless technology, covid-19, customer experience, guest experience, hotel technology, hotels, Oracle Hospitality, revenue management, short-term rentals, SkiftX Showcase: Hospitality, SkiftX Showcase: Technology, travel recovery, travel research