Future of Hotels and Travel Industry - Hotel trends in Ireland - Keynote Speaker
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Dr Patrick Dixon Chairman Global Change Ltd
Future of Hotelsand Irish Hospitality Industry
ALL BIG TRENDS ARE RELATED
What will Irish Hotel Industry look like in 2020 ?
Downturn is (almost) history but customers have CHANGED
Tourism in Ireland EU 7bn
Around 200,000 jobs - 4.5% of GDP50,000 in hotels and guest houses
11% of all workers in Ireland
Visitors to Ireland -
The Gathering 2013Overseas visitors up 7%
US visitors up 15%
265,000 extra visitors was huge achievement in difficult economic situation
6,000 extra hotel beds in boom- only 1500 lost in last 3-4 years
- 70% bed nights are Irish customers
Hotel Occupancy and Rates will continue to recover
Hotel Occupancy and Rates will continue to recover
Experiences Matter Most
Strategies often overtaken by eventsWorld can change faster than you can hold a board meeting
You need more than
one strategy to grow your
hotel business
22
GLOBAL ECONOMY
WILL GROW 2014-2020
WGP 1980-‐2013 (%,constant prices)
US GDP 1980-‐2013 (%,constant prices)
EU GDP 1980-‐2013 (%,constant prices)
Vietnam GDP 1985-‐2011
Republic of Ireland boom was fed by low Euro interest rates
Low borrowing costs, high inflation, fixed exchange rate
2% inflation target likely to be discarded
•
£ 375bn
$2.3 trillion US + $65bn per month
Euro to Pound -‐ managing risk
>40% WDP by 2015� IMF - adjusted for Purchasing Power Parity
$3.4 trillion
Reserves
300 million move to ciSes in ChinaRapidly growing middle class = travellers
FUTURE of TRAVEL will
be DRIVEN by
EMOTION and desire for EXPERIENCE
• Mother changed mind re banking online / mobile - in 3 hours, leapt 30 years
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“Great hotel guest experiences”
Mystery Shopping
80% lost in seconds
Hotels, conference centres and travel agents
need to respond instantly to e-‐mail
Online travel revoluSon
What can hotel call-‐centre see ?
LEISUREGROWTHMARKETS
People Eat Out More
Breaks – Stress-‐Busters• Luxury and pleasure• Impulse buying • Special treats• Many more short city-
breaks – at all times of year
• Second main holidays / adventure / activity eg winter sun
5% in UK will take an adventure break in 2014
Tailor made holidays / mulS-‐desSnaSon luxury
City breaks now as popular as beach holidays for UK residents
Stag weekend / Hen weekendAverage UK 15-‐24 year old took 5 breaks last year
21,000 marriages a year in Irelandand global trend is more elaborate
• 5000 brides confetti.co.ukEU 600 million
Desire to be Different
Memories and Moments
BUSINESSGROWTHMARKETS
68,000 overseas visitors to Dublin conferences in 2013Ireland events market EU100m a year
Making it more Personal
Demand for unusual venues is growing
Business mixed with Leisure• 33% of tourism spending in London is by business travellers
OLDER GUESTS GROWTH MARKET
1 billion over 60 year olds in 10 years
Europe Dying 4 couples to produce singlegreat-grand childin some nations
75% of all US and UK wealth owned by those over 65 -‐ mostly women
Rest -‐ Reading
IMPACTOF ONLINEON HOTELS
IN 2014
Would recommend you to a friend ?
"Perfection!," TripAdvisor Member, FEb 17, 2014 This was a most beautiful Paris hotel. Delightful, all perfect. We will stay again v soon. "Terrible! TripAdvisor Member, Jan 23, 2014 Terrible place, rats, dirty, noisy - sick with food poisoning for 2 weeks. Nearly died.
1 trillion pages a month
1 Billionaccounts
e-‐commerce hits $1.5 trillion 201412% all UK retail
Huge growth aggregators
Hotels and conference centres need to respond instantly to e-mail enquiries
PriceTransparency
Italy: 58% increase in aggregator sales of insurance in first 6
months of 2013 v 2012
2014 ruling by Office of Fair Trading allows Online Travel Agents to discount hotel rooms, paid out of their own margins
Hotel bookedon arrival in city
Why can’t I find a place to stay?
LocaSon MarkeSngis next
BIG THING
• Zettabyte = 1024 ExabytesExabyte = 1024 PetabytesPetabyte = 1024 TerabytesTerabytes = 1024 Gigabytes
BIGData
• Home• Work• Online• Offline• Sales• Entertain• Phone• Mobile• Chat• Mobile
KNOW YOURCUSTOMER
Travel and RoomPreferences
HOW TO AMAZE YOUR
GUESTS
Night Flight or Day Flight Going out or coming home? – work, food, drink,
chat, party, unwind, dark, quiet, sleep, leave
Best for Business ?Out / Back
100
�Click to edit Master text styles
RoomKey
Junk but no iron
108
Treat every customer as if a member of your own family or a
friend eg web / phone
The only hotel value worth having
Wonderful Memories
RESOURCES>500 videos of Keynoteshttp://www.youtube.com/pjvdixon
Global Trends Website:http://www.globalchange.com
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