Weekly Roundup #16: Travel, Tech and Social Media

Week 16/2018

Greetings everyone and welcome to the Weekly Roundup! It’s been another busy week in hospitality and we made sure to gather and summarize the most important news and stories. Take a look to see what’s been going on and don’t forget to follow us on our social media accounts: we are very active on Facebook, Twitter, LinkedIn and Instagram!

Until the next roundup, have a lovely weekend!


Industry News

U.S. hotels operating at highest level of efficiency since 1960:

U.S. hoteliers enjoyed an eighth consecutive year of increasing profits in 2017 despite another slowdown in the rate of revenue growth.  According to the recently released 2018 edition of Trends® in the Hotel Industry by CBRE Hotels’ Americas Research, total operating revenue increased by 2.0 percent in 2017 for the average hotel in its survey sample.  Fortunately, by limiting the growth in operating expenses to 1.9 percent, managers at the Trends® properties realized a 2.2 percent increase in gross operating profits (GOP) for the year. Also, according to the March 2018 edition of CBRE’s Hotel Horizons® forecast report, annual RevPAR gains for U.S. hotels are projected to range from 0.8 percent to 2.5 percent from 2018 through 2020.

EyeforTravel report finds Germany’s outbound market will have its best performance in years in 2018:

Germany's outbound market accounts for over 30% of the overnight stays made by EU citizens but the market is set to get even bigger in 2018 on the back of strong economic performance, receding security concerns and high consumer confidence finds the report, an extract of which can be downloaded for free here. The research expects spending by Germans on international leisure travel to exceed €80 billion in 2018, as a result of renewed confidence among German travelers to travel further abroad and return to a variety of destinations, principally Turkey, alongside record high expectations of improving wages.

Sojern & Google’s latest collaboration offers insights into inbound Australia and New Zealand travel trends:

Australia and New Zealand were once considered “bucket list” destinations. Expensive flights and long travel times meant they were out of reach for many. However, the advent of several regional low-cost carriers (LCCs) means that these two countries are more accessible than ever. And it shows. Both Australia and New Zealand have lofty tourism goals into 2020 and beyond, and the data shows that interest to these countries is only growing. To that end, Sojern and Google take a look at travel trends for Australia and New Zealand in their new report. Findings showcase mobile and cross-device trends, last-minute planning patterns, and market growth trends.


Trends and Insights

My last review was _____: a guest’s perspective:

As a central point of our latest research project, we wanted to discover what type of reviews guests are leaving after their latest stay. So what did we do? We asked a group of travelers a set of questions that were aimed at their experience with online reviews.

Even before their stay, most travelers - meaning 93% - are interacting with reviews before they make their booking decision, something we tested in a 2015 study. This time around, our researchers wanted to dig into that statistic even further, to see exactly how relevant reviews are to their booking decision. Guests were asked to rank the factors that affect their decision when searching for a hotel, which included: hotel brand name, star class, price, review score, short description, and the image of the property's listing. In this blog post, we broke down the most relevant findings from our study, in regards of how guests tend to leave reviews and what influences them.

How to embrace negative feedback at your hotel:

Any seller of a product or service dreads the inevitable moment a negative online review appears on the horizon. For hoteliers, it’s often reason enough for the panic button to be pushed and for knee-jerk ‘fight or flight’ responses to click into action. But it need not be. Together with our friends from Mews Systems, we wanted to emphasize once more that, on average, 85% of reviews are positive compared to 15% negative. So don't panic if you get a negative review - nobody is perfect and having an unblemished score is unrealistic. For something so ostensibly qualitative like a review, we wanted to find out if there was a way to turn guest feedback into actionable data our hoteliers could use. Make sure to check out this insightful post about how you can embrace negative feedback and even turn it to your advantage.

80 million international travellers influenced by films worldwide:

La La Land, Narcos, Pirates of the Caribbean, Buddies in India, Manchester by the sea… Last year, no less than 80 million travelers chose their destinations mostly based on films and TV series. While film-induced tourism is not new for destinations, the survey reveals its influence has reached unrivalled magnitude, with an estimated number of visitors volume having doubled in 5 years globally thanks to films. TCI Research points out that film induced visitors are over-represented among Millennials and high-spending markets such as China and GCC. This micro-segment is a very valuable target for destinations compared to average visitors.



How technology could make hotels feel more like home:

A hotel room door that opens with your smartphone – no room key required. In-room virtual reality glasses providing virtual tours of famous landmarks. Smart device-controlled lighting and thermostat, a smart TV connected to your Netflix account and smart room service that accepts smartphone orders. These innovations and more are on the horizon to become standard in American hotels. But for now, there is widespread agreement that the average American hotel room lags behind the average American home when it comes to technology. University of Delaware professors in Alfred Lerner College of Business and Economics Sri Beldona and Zvi Schwartz are studying these issues. In a paper recently published online in The International Journal of Contemporary Hospitality Management, Beldona and Schwartz describe their findings that hotel guest technologies should be of a higher standard than customer's homes in order for guests to be satisfied.

Millennials still value travel experiences over tech:

While the beauty of nature and exciting travels seems lost on many, Millennials appear to still have their priorities in order. CreditLoad.com surveyed nearly 1,000 people on which purchases they value most, and experiences ranked higher than material things for nearly everyone. Here's some other findings: 47.1% of respondents are willing to sacrifice major lifestyle luxuries in order to afford a vacation... one respondent reportedly gave up eating out for an entire year in order to afford a trip to Mexico; Baby Boomers are the most loose with their wallets when it comes to enjoying a holiday- average amount spend came out to $1,469.37; On average, Americans regret costly purchases (like tech gear) 30% of the time and find more value in experiences like vacations.


Laura Badiu

Laura is a passionate bookworm and a gifted writer. Since joining TrustYou’s marketing team, she has embraced topics in the travel and hospitality sector with enthusiasm. Using her degree in Journalism, Laura creatively weaves words into insightful stories with a focus on reputation management.

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