In this futurist keynote I argue that there are three major trends that will disrupt the hospitality and travel industry in the future. These three are;
One of the things about digital disruption is that it changes the value of the physical, the bricks and mortar, the physical space around us, as well as information. And as we are shifiting from a cash-based economy to one of digital transactions, the beautiful thing is that we are starting to leave digital foot prints around the world. Smart brands are starting to use this information with the purpose of creating highly tailored and personalized experiences for their customers just like when you used to know your banker in your local environment. In this way the digital can support the traditional.
Digital platforms that are heavily community focused like AirBnB for example are changing the hospitality and travel industry. Below is a comparison between AirBnB and Marriott. For Marriott it took 88 years to build 697,000 rooms while it took AirBnB 4 years to reach virtually the same level.
And did you know that today ten percent of their bookings are business bookings? However, I'm not saying that AirBnB will steal your breakfast or your lunch tomorrow, but we can learn from these digital startups. What made them successful is great imagery on their website, being hyperlocal and having concierges who write great content about the hyperlocality about where you are going to stay. This is the way digital disruptors and startups like AirBnB build community.
As consumers we are not only digitizing but also mobilizing in context today. This is important because it enables your customers to make smart decisions about where they are going to spend their money before they come to you. Today's consumers loves information which is digitized, visualized and contextual. Uber is an example of a company who have managed to monetize on this new demand for information by creating a mobilized and intuitive interface. By doing this they are also turning their customers into heroes and giving them the power of information.
We no longer ask local human beings for help when they for example are looking for information or tips - we just go onto Foursquare instead to get the best tips on where to eat. The reason that this is imporant in the future is that we are becoming much more focused on not just having speed and innovation and information at our fingertips all of the time, but also having a relationship with the local business as well which supports the exponential rise in farmers markets in USA (read this old blog for more information about the food industry; My powerful insights on the future of the food industry).
Personalized experiences, disruptors in the digital space and mobilized and intuitive interfaces are the three trends I have discussed in this blog post. These trends will not only impact the hospitality and travel industry but also a wide range of other industries where customer service and experience is an important aspect.
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