Source: Grant Thornton LLP

The rapid evolution of technology has significantly reduced the time it takes for hoteliers to introduce new and innovative solutions which contribute to delivering a distinctive guest experience. The Grant Thornton 'Hotel-Regenerate' report invites hoteliers to consider the elements which are impacting the industry, from a changing market and operational models, to the approach and mindset hotels in the region need to regenerate in order to appeal to the new-age traveller.

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Tech-disruption and its impact on mass-personalisation The age of tech-disruption, shifting socio-dynamics and evolving guest preferences can no longer afford hoteliers time and complacency. The leverage of technology is important to consider, particularly given it is an enabler of change and the portal to big data.

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Brand fragmentation In the wake of a challenging global travel landscape, new market entrants, and the rise of online intermediaries, hotels face a new reality in which the brands that will survive will be the ones that can attract and anticipate the needs of the diverse traveller.

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Remaining relevant in a diluted market Viewing hotels as accommodation providers will be a thing of the past, guests will expect more, be targeted and attracted by a wide and diverse range of solution providers, along with having the luxury of choice. Such market dilution must be carefully considered and planned for.

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The future of tourism Hoteliers must reinvigorate their corporate strategies, human capital policies and internal culture in order to embrace and stimulate innovation for its people, which will act as a lever to attract youthful resources who can create competitive advantage.

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