A study released today by Sabre Corporation (NASDAQ: SABR), in collaboration with TrendWatching, explores a series of quirky ‘behavioural’ trends emerging amongst Asia Pacific consumers which will present new opportunities for hotels in 2017.
These three trends are: ‘Betterment’, a growing consumer desire for self-improvement; ‘Local Love’, taking pride in locality and embracing local products and services; and ‘Infolust’, the appetite for timely, relevant and actionable information exchange to inform better purchase decisions and solicit more personalised services.
“Competition amongst hotels is high in many Asia Pacific markets, despite a positive outlook into 2017 and beyond. Rapid disruption in the range of accommodation options available and an evolution in consumer preferences is putting hotels under pressure to keep innovating. One key way to maintain an edge in a fiercely competitive industry is to identify emerging consumer behaviours that present new opportunities to differentiate the travel ‘experience’,” notes Sarah Kennedy Ellis, vice president of marketing and strategic development for Sabre Hospitality Solutions.
According to global data benchmarking and insights firm STR, the Asia Pacific region reported a 1.9 percent year-on-year increase in occupancy in Q3 2016. However average daily rates were down 1.9 percent to US$97.34[i].
Sabre’s Hospitality Solutions business has identified three behavioural trends amongst Asia Pacific consumers which will present new opportunities for hotels in 2017:
“BETTERMENT”: Asia Pacific economies span the entire development spectrum, but the desire for self-improvement extends across the region. Consumers are striving to improve their lifestyle and satiate a feeling that they could ‘do better’ – living more healthily, recycling more, ‘doing good’ – the list of self-improvement goals is long. However healthier, smarter, more responsible choices are also perceived as costing more. This, combined with human inertia, means action is often lacking.
While self-pressure to ‘do better’ and a sense of accountability amongst peers can exert social pressure, for many consumers the lure of deals or rewards will be the catalyst needed to incentivize action. What if hotels could combine the two – self-improvement choices packaged into a good deal? Discounted rates for guests that support a hotel’s chosen local community programme during their stay? Dining vouchers at a local health food restaurant for guests who use the spa?» Read Complete News.....