In our fast-paced world, where productivity and efficiency are often prized above all else, it can be easy to forget the importance of leaving room for some unscripted, unplanned moments. These are the moments where the magic happens. In this article, we will delve into understanding why and how I believe, we should leave room for magic, both in our personal lives and in business.
Wars, recessions, and outbreaks—No matter the hardship that arrives at hospitality’s door, its foundations remain stable and sturdy. Despite enduring significant challenges in recent years, the sector has shown impressive resilience and continues to grow at a rate of 5.9%, almost double that of the UK economy.1
Back in the days of yore — or, for those who measure time this way, pre-pandemic — resorts were something of a specialist interest, similar to learning one-handed backflips in your free time.
Hospitality is one of the most fast-paced, ever-changing industries that is constantly affected by external circumstances such as staffing fluctuations, consumer trends, and, of course, the global economic climate. This means that hotels need to be agile in responding to any changes that may affect them if they want to stay relevant in a highly competitive market.
In recent weeks, I had the unique opportunity to delve into current dynamics in the world of hotel operations and investments through participation in panels at the Cayuga Hospitality Consultants annual meeting and the BizNow Hospitality Summit in Chicago. The two panels offered a timely glimpse into the intersecting paths of hotel investors and operators, highlighting key trends, concerns, and areas of mutual interest.
We conclude this three-part series on China by taking an in-depth look at how the economic downturn in China is affecting tourism in one of Switzerland’s most emblematic destinations, Lucerne. A small lakeside city surrounded by towering peaks, Lucerne plays an outsized role in Swiss tourism and watch sales.
Even in a medal-hopeful Olympic year, is it worth proclaiming hypothetical records in advance? Abandoned in the post-Covid reconstruction phase, the goal of 100 million international tourist arrivals is making a comeback in 2024. Incantation or substantiated forecast? In any case, the announcement has had an impressive effect. But this come-back to an obsession with volume eventually masks the true value of our tourism.
EHL’s Dr Peter Varga teaches Corporate Sustainability, Sustainability Transitions and Innovation, and Ethical Decision-Making for Responsible Managers. His research focuses on sustainable sociocultural dynamics of current tourism practices in host societies and cultural intelligence in intercultural service encounters. In this article he highlights the challenge of today's globalized and at the same time shrinking world, and asks: How can we develop our cultural intelligence to face the future, especially in an industry where positive human interaction lies at the heart of creating transformative experiences?
The Social Hub is one of the most interesting stories in hospitality, from its founding as “The Student Hotel” in 2012 to its recent rebranding and €2.1 billion valuation in its most recent funding round.
What a way to start 2024…by digging up the now classic hotel ops debate of to clean or not to clean. By the title, it should be clear where we stand (especially for upscale or luxury hotels). Nevertheless, with labor issues omnipresent for hospitality – both supply and cost – this will always be an issue to decide.
I invite you to think about this question as we begin a new year because having a clear and compelling answer to this will help you stay motivated to serve your teams, your guests, and perform at your best.
In a world where customer expectations are constantly rising, and social media can amplify experiences, service recovery has become an essential art for any company aiming to maintain customer loyalty.
EHL Institutional Visibility asked its 200-strong faculty members what the most newsworthy event was in 2023. In no particular order, this is what they said.
The hotel industry has moved on from many challenges that have plagued it since the COVID-19 pandemic, but new challenges and opportunities have presented themselves in 2023. Carrying on from 2022, markets continue to deal with the highest cost of debt in decades, but the fear of a recession has receded, and the possibility of a “soft landing” from 40-year high inflation growth may be a reality. The industry remains flexible to the needs and desires of guests and continues to pivot to meet the challenges of the future.
We have written several articles regarding hotels that are part of what we call ‘The Mille Club’. Mille, translating to thousand, identifies those properties that have seen their typical ADR move above the thousand (dollar, Euro, pound, CHF) rate.
These are undeniably boom times for the hospitality industry, with the post-COVID rebound showing no signs of slowing: according to one estimate, reservation rates are trending 11% ahead of those seen in 2022. But it is not quite time to celebrate yet. Yes, increased business is a very good thing. But the fact remains that a single cyberattack can undo all that progress in the blink of an eye, and then some—and as we've seen this year, the hospitality industry is uniquely vulnerable to this threat.
Business travel is back. Data from the Global Business Travel Association (GBTA) projects that international business travel spending will reach $1.5 trillion in 2024, surpassing peaks of $1.4 trillion in 2019. By 2027, GBTA predicts that spending will have reached almost $1.8 trillion, a 25% increase from pre-pandemic levels.
Most of our clients are honest, but unfortunately travel and tourism is also a business like any other business, and despite the goodwill felt at this season, there are also safety and security challenges. There will always be some people who seek to take advantage of other people’s goodwill and graciousness. This month’s issue is meant to remind you of some of the basics in making your business secure. As in past months, Tourism Tidbits reminds you that it is not written by professional lawyers and as such it does NOT pretend to offer legal advice. Tourism Tidbits merely offers these suggestions as points of discussion for you to raise with your legal staff.
In the dynamic world of hospitality, leadership and strategic vision play pivotal roles. Gilda Perez-Alvarado, known for her influential tenure as Global CEO of JLL's Hotels & Hospitality Group, now holds dual roles as Group Chief Strategy Officer at Accor and CEO of Orient Express. In a recent conversation, she shared valuable insights for hospitality leaders, drawing from her experiences to date and her perspective today.
Competition amongst hotels in the UK is higher than anywhere else in Europe, with nearly half of all hotel construction occurring in the UK1. With the sector more competitive than ever, hotel owners need to be mindful of how they can stand out from the crowd and develop their hotels to meet the rapidly evolving demands of their guests.