In the hotel industry guests are
looking for more ‘inside the hotel’ experiences. This demand is driving hotel
managers to ensure that all parts of their hotels are as welcoming as the
lobby. This has brought in more innovations to design and aesthetics involving
more comfortable and accommodating spaces. Vibrant colored interiors and access
to the internet at every location is common. For example, Starwood Hotels and
Resorts is testing a variety of inventive amenities, including smart floor
tiles, smart mirrors and giving guests the ability to program their in-room
lighting, music and coffee maker from a smartphone to give consumers more
customization over their stay
THE
BUSINESS RESEARCH COMPANY EXPECTS THE HOSPITALITY GLOBAL MARKET TO GROW TO $8 TRILLION
BY 2021
Asia Pacific was the largest
region in the hospitality market in 2017, accounting for nearly half of the
market share. This can be attributed to high demand for food and beverage
services, and hotel and motels, in countries such as China, Japan and India.
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The chart below shows the
year-on-year growth of the global hospitality market
during 2017– 2021
According to The Business
Research Company’s Consultant, Nitin Gianchandani, hotels are using
technologies that are transforming the customer experience. Some technologies
are leading to significant improvements and savings in the hospitality market.
The most significant trends in this market are the use of near field
communication (NFC) technology, infrared technologies, and robots. NFC gives
users the ability to exchange data between devices, making mobile payments an
instant, secure process. Infrared sensors are used in hotels to address
customer complaints involving housekeeping interruptions. Hotels are also using
robots to deliver amenities to guest rooms and for many other functional
purposes[i]. Hotel
operators are investing in systems and technologies that can automate processes
and personalize the experience for guests.
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report at : https://www.thebusinessresearchcompany.com/sample.aspx?id=335&type=smp
Compass Group PLC was the largest player in the hospitality market, with revenues of $31 billion in 2017. Compass
Group’s growth strategy is to focus on organic growth and its operating
efficiency. The company plans to increase its B2B brand portfolio by partnering
with more industries, healthcare and educational institutions. The company
partnered with Thompson Hospitality Corporation in USA as part of its expansion
strategy. The company also introduced interactive websites and apps to serve students
in educational institutions.
The hospitality industry covers lodging
and dining services. It comprises businesses that provide customers with
lodging, prepared meals, snacks and beverages for immediate consumption. It
includes both accommodation and food service establishments as these two
activities are often combined at the same establishment.
Hospitality Global Market Report 2018 is
a detailed report giving a unique insight into this market. The report is
priced at $8000 for an individual user. To use across your office, the price is
$12000 and $16000 if you wish to use across a multinational company.
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