22 Mar 2012

Top 10 hospitality industry trends

By 2016, half of the travel industry will be using social media as a way of generating revenue and bookings. 

Currently more than one-fifth (22 percent) use social media as a revenue generating tool with a further 27 percent planning to do so over the next five years.

Plus, social media will become more of a key component of Search Engine Results Page (SERP) algorithms. Facebook's posts are already integrated into Bing search and Google+ emerged with native integration into Google search.

Hotels can no longer afford to linger over adding social media to their marketing mix. It's now a necessary element of traffic-driving success.

To understand the market and to help hoteliers capitalize on what's to come, Robert Rauch, otherwise known as the Hotel Guru and president of R.A. Rauch & Associates, a San Diego-based hospitality management company, has compiled and released his list of Top 10 hospitality industry trends for 2012. Here they are in reverse order:

10. Social media will continue to transform connections with travelers.

9. Prepare for growth.

8. Brands will put more money into deals to expand market share. 

7. Proliferation of distribution channel management will largely impact pricing. 

6. Revenue management will make the art of managing a hotel more of a science.

5. Demand and average rate are up in most markets, but not equally distributed.

4. There will be more mobile bookings and research.

3. Online booking will continue to (modestly) grow.

2. There will be little to no new development dollars on the debt or equity Side. 

1. Hoteliers will invest in reinvigorating properties to take advantage of the market.

Read the full article: HotelMarketing