Hotels are in flux.
Guests are less loyal and more demanding than ever before. They use online travel agents (OTAs) and aggregators to find the best hotels and deals – which helps operators fill their rooms, but at a cost. Meanwhile Airbnb and the sharing economy continues to grow in popularity. Looking further ahead, commentators are asking if, or when, technology giants such as Google and will use their extensive consumer insight to further disrupt the sector.
At Grant Thornton, we believe that short-term agility and medium-term strategic innovation are viable responses to these challenges. If hotels embrace the digital revolution – technologies that blur the lines between the physical, digital and human spheres – they can turn disruption to their advantage.
One thing is certain: the sector is changing fast so hoteliers must think in bold new ways, even if this means challenging the tried-and-tested business model. In this new series of reports we draw on examples from across the industry to share practical advice that leads to growth.