At the WKO Vorarlberg specialist group meeting on September 26th, Marco Riederer from Prodinger presented innovative concepts and practical examples for performance optimization for hotel businesses under the title “The Hotel of the Future”. In his lecture, he highlighted concrete measures that should help companies successfully meet the challenges of the coming years. A “Best of” analysis of successful companies rounded off the presentation and highlighted the success factors that lead to success even in difficult times.
Industry challenges – opportunity for change
Exploding energy prices, rising interest rates and the looming recession are presenting accommodation providers with major challenges. Despite these economic adversities, many entrepreneurs see this as an opportunity for change. They are convinced that investments, courage and optimism can be worthwhile in this phase.
Agility and flexibility as success factors
The hotel industry has been hit hard by the pandemic, inflation and geopolitical crises. Nevertheless, agility, flexibility and the ability to adapt to different planning scenarios remain crucial success factors. By professionalizing these steps, companies can gain a real competitive advantage in order to survive better in uncertain times.
Changing guest behavior and uncertain planning
Guest behavior remains volatile and companies are required to consider different scenarios when planning. Many travelers are paying more attention to their budget, while others are willing to increase their spending to make up for missed trips. The challenge is to find the right balance between pricing, flexibility and guest demand to ensure sustainable success.
Sustainability as a key issue
Sustainability has become an integral part of the tourism industry. The scarcity of resources and the focus on ESG reports (environmental-social-governance) show that sustainable business no longer just has to be a project goal, but rather a firmly anchored part of corporate management. Tourist businesses that consciously organize their stay in a resource-saving and environmentally friendly manner can benefit from this.
New forms of accommodation and health trends
Demographic change opens up opportunities for new forms of accommodation. “Best Ager” hotels, which focus on activities rather than care, are particularly gaining in importance. The trend towards “medical fitness” also shows that guests are becoming increasingly concerned about their health. Hotels that combine health, activity and regeneration will be increasingly in demand in the future.
The change in service
The world of work is changing profoundly. Young employees increasingly value quality of life and meaningfulness in their work. Companies that rely on “New Work” concepts have a clear advantage in the competition for talent. The tourism industry must therefore adapt to these new requirements.
From the leisure society to the meaningful society
Another phenomenon is the change towards the so-called meaning society. More and more people want to spend their free time sensibly and take home what they have learned from their vacation. It is important for tourism professionals to recognize this change and create appropriate offers in order to remain competitive in the long term.
Conclusion
The presentation “The Hotel of the Future” clearly showed that the hotel industry is facing change. Companies that adapt to new challenges and develop sustainable and flexible strategies can be successful even in economically uncertain times.