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Millennials and Gen Z travelers are stress-testing hotels’ ability to keep up with customers’ technology preferences. Hotel owners and operators need to look for creative technology features and amenities to help them compete in the ever-changing travel environment.
LG Business Solutions
This sponsored content is created in partnership with Skift partners.
Millennials and Gen Z travelers are reshaping the hospitality industry. according to skift research corp.the majority of travelers across this generation plan to increase their travel spending in the next year, and more than 75% will take two or more trips during this time.
Meanwhile, about two-thirds of travelers say hotels are their first choice for accommodation, far ahead of short-term rentals and staying with family and friends, underscoring the importance of hotels’ strategies to attract them.
In addition to these behaviors, younger travelers are also stress-testing hotels’ ability to keep up with customers’ preferences for technology. period 2024 Skift Data and Artificial Intelligence SummitChris Hemmeter, Managing Director of Thayer Ventures, said:
“We now find ourselves saddled with an incredible amount of technical debt, which is a real problem because travelers have changed and our industry has been playing catch-up and layering technology on top of itself.”
In light of these significant, rapid shifts, hotel owners and operators must understand the unique needs of their specific customers and implement creative features and facilities, like those provided by LG Business Solutions, to help them navigate changing travel technologies competition in the field.
3 key ways Millennials and Gen Z are reshaping the hospitality industry
1. Tourism market share: Millennials and Gen Z are expected to make up 83% of hotel guests by 2030, according to a study LG Business Solutions Report.
2. Travel frequency: Millennials and Gen Z too Most “frequent” leisure travelersare more likely than Generation X or Baby Boomers to take three or more trips per year.
3. Huge spending power: In particular, Generation Z is rapidly becoming an important consumer group in the hotel industry – they are the largest generation in global history, and their spending power is expected to reach Will reach $12 trillion by 2030.
4 key expectations travelers have for hotel stays
1. Self-service experience: according to a report Skift and Oracle Hospitality75% Millennial and Gen Z hotel guests unanimously agree that they are “more likely to stay at a hotel that offers self-service technology,” compared with less than two-thirds of Gen X and baby boomer hotel guests.
2. Environmental protection facilities: 82% of Millennials and Gen Z are interested Minimize your environmental impact when traveling.
3. A place that combines business and leisure: Nearly 75% of Millennial and Gen Z travelers say they Extended recent business trip for leisure purposes.
4. Unique photo opportunities: 61% of Gen Z and Millennials agree Visit a destination because it looks great in photos and videos is the top motivation for traveling in 2023, compared with 49% of respondents overall.
4 ways hoteliers are leveraging technology to meet these modern preferences
1. Make business travel more fun: When work is done and transition to leisure, Latest display technology It can provide a higher level of guest entertainment experience indoors and outdoors. After a long day at work, a hotel might offer guests the opportunity to enjoy their own content on their own streaming platform using Airplay 4K Ultra HD Hotel TV in their room.
2. Build social (media) capital: Create an “instagram-friendly” photo area Dynamic LED An information display that blends motion, content and sound. This provides an immersive experience that seamlessly combines technology with art, creating opportunities for social sharing that are better than any marketing the hotel could generate on its own.
3. Surprise and joy: Provide contactless, wait-free service service robot It can readily provide guests with amenities, food, or other items they may need at any time of the day, with the added benefit of maintaining privacy if desired.
4. Illuminating ecological awareness: set up Electric vehicle charging station Serve the growing fleet of electric vehicles and add value to environmentally conscious Millennial and Gen Z travelers. PwC 2024 Consumer Voice Survey It was revealed that consumers are willing to pay an average of 9.7% more for sustainable products. Hotels with quality products like energy-efficient digital signage displays, monitors, televisions and HVAC may also appeal to environmentally conscious travelers.
“Generation Z will become our main customer source market in the next five or ten years. They think differently and communicate differently.” Sanovnik Destang, Executive Director of Bay Gardens Resort, St. Lucia said Skift is interviewed About evolving technology to meet the needs of the next generation. By adapting to the sensibilities of Millennial and Gen Z travelers and implementing forward-thinking technology that caters to these preferences, hoteliers will prepare themselves to compete in the next decade and beyond.
Learn more about how LG Business Solutions Can enhance your hotel experience.
This content was co-created by LG Business Solutions and Skift’s Branded Content Studio, SkiftX.
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