Download - The Hospitality Industry-the trends,
Mr. Praba G MenonChief Operating Officer
He is a well-known and recognised personality
of the hospitality industry in Malaysia.
Praba G Menon, a self-made hotelier, grew
from the ranks of bus-boy to waiter, and now
commands the respect of his fellow associates
as the COO of a large hotel chain in Malaysia.
The industry is ever dynamic and exciting and so will be the talk.
He is enthusiastic in sharing his views on the
opportunities and challenges facing the
players, including the customers, in this
industry.
The Speaker
Anthony and a team of young adventure enthusiasts established AOS in 1976. His first job with AOS was a guide at the age of 17 years old. In 1976, he and a team of enthusiastic adventurers established Asian Overland Services Tours & Travel Sdn Bhd.
Mr. Anthony WongGroup Managing DirectorThe Frangipani Langkawi Resorts & Spa
His pet project, The Frangipani Langkawi Resort & Spa is a green hotel and he hopes to make it a showcase and model to encourage other hotels to shift towards greener practices.
As an established and distinguished speaker, Anthony is frequently invited to give talks and seminars on issues of the travel industry, and has featured on local television networks and media on his achievements and views on sustainable tourism.
His immense experiences and tireless efforts to promote eco tourism have been recognized locally and internationally with the numerous awards and accolades received.
The Moderator
What is it defined as?
It is in Service Industry, Including,
Lodging
Restaurants
Convention centers
Theme parks
Cruise lines
IRS, and
Others ( Transportation, Shopping )
Top 10 Hospitality Industry Trends-2013
Increase in Traveler’s Personal ValueExpect More International VisitorsA second look at RefinancingSocial Media & Mobile Will Be InseparablePhoto Sharing Will DominateMore Unrehearsed Marketing VideosRenewed Focus on Property WebsitesContent Marketing Will Replace Traditional AdvertisingGuests Will Crave Food, Not Celebrity ChefsMore Meeting Planner Via Social networks
Its magnitude!
A Multi Billion Dollar Business.
Many Learning Centers
Needs Of Trained Professionals.
Changing Landscape Of Entertainment,
Restaurants, Bars And Others.
The Faster Magnitude!
Grown very fast, especially in Malaysia.
the first hotel about 1957.
Then from 1973, grown from a million dollar business to a multi billion dollar business,
largely due to the drive by the Government & Private sectors
Grown, but….
Our neighbours grew faster.
IRS concept is largely becoming popular.
Sample IRS in Singapore – South
Africa :
Disneyworld, etc
Then there are new concepts :
Home stay
Vineyard stays (plantations)
Vacation homes
Budget airlines have made lodging
industry grow.
TOP 4 HOSPITALITY CHALLENGES TODAY
High fixed-costs and variable income.
Fluctuations in occupancy and room-rate
demand
Tight cost control.
Increasing expectations of Gen-Y Guests
excellent service.
A hard equation to balance.
competitive bar is raised higher:
proximity of destinations, and
24hrs a day without break.
advantage must be wrung from Technology.
Challenge #1 – Guest Profiling
Gathering and using Guest preferences and intelligence to,
Enable delivery of superior Guest experience. Enable data gathering and profiling Enable the business in making this data available using ITUse Business Intelligence with a twist. But how?
Challenge #2 – Social Media
Implementing and integrating new customer engagement channels by,
Using Social Media with contact centers for optimum efficiency?
Monitoring and careful intervention must be a priority for Hotels in 2011 and beyond
Looking at what other industries are doing and gain insight. (Data Protection Act)
Challenge #3 – The Demanding Customer
Having every guest touch point to
be a make-or-break experience, be an opportunity to win or lose the repeat business explore how these issues are actually communications-based, and leveraging how technology is to deliver.
Challenge #4 – Lowering Cost, Increasing Revenue
How to identify new revenue streams?
non-room revenue (e.g. banquet, spa, golf, conference rooms, and restaurants)Optimising technology used in staffing levels and the tool they useChanging technology use to streamline for maximum productivity and savings?
OTHER ISSUES AND TRENDS
Sustainable development calls for green hospitality,labor cost, multicultural issues and higher education.
Challenges that facing hospitality will include, operating , marketing issues, technological and economic issues. Identified ten key trends that,
We believe will shape the hospitality sector this year and for years to come include,Rapid growth in vacation ownership, integration & globalization, new management.
1. ISSUES IN HOSPITALITY INDUSTRY
1.1 Sustainable Development Calls for Green Hospitality
Going green is a white-hot issue in the hospitality-design
Working toward a carbon constrained future.
Globalization
2.4.2 GlobalizationGlobalization dramatically,
influences the extent of travelaffects the economy of the nation, the economies of individual countries, and the world economyplays an increasingly larger role in the financial success of lodging properties. To compete, they must pay closer attention to the trends of globalization. The industry must reflect the requirements of the global village
3. TRENDS IN HOSPITALITY INDUSTRY
3.1 Rapid Growth in Vacation Ownership
Vacation ownership is the fastest growing segment
Fastest growing sectors of the travel and tourism industry.
Hospitality companies are adding brand power to the concept with corporations, and
Ever Four Seasons participating in an industry that has grown rapidly in recent years.
Vacation Sites
1. Resort Condominiums International (RCI), the largest vacation ownership exchange has more than 2.8 million member families living in 200 countries. three thousand seven-hundred participating resorts and members can exchange vacation intervals for vacations at any participating resort.
2. North America remains the global leader with ,nearly half of all the participating resorts and more than 2 million owners. Europe is second with approximately 22 percent of owners worldwide and more than 1,000 resorts.
3. Timeshare resorts are found around the globe in popular vacation areas near beaches, rivers, lakes, and mountains, and even in major cities.
Management
3.3 New ManagementThe complex forces
of capacity control,safety and security, capital movement, and technology issues
The growing complexityof the customer/employee interaction, driven by technology and the information age, will shape human resources needs in the future.
The customer, armed with more information, will expect staff to be at least as knowledgeable about the firm’s offerings as they are themselves.
The Future Focus
This will be difficult in an industry characterized by
low-skilled, low-paid personnel and
a high degree of cultural and behavioral diversity
Visioning the future: major forces driving change in the hospitality
seven areas decisive to the future development of the industry. Each is examined to determine the scope and complexity of the issue and the timing of its impact.
IN SUMMARY
Apart from these challenges, issues and trends, new rules and incentives must be in place to facilitate a green, carbon free environmental properties.Project management advisors/consultants must be proactive in thinking ahead to produce environmentally friendly properties.Does it stop here? No. We have to modernize the future development of the industry.