KEY TAKEAWAYS
  • A deeper data-driven focus on consumers is transforming how the hospitality industry attracts, communicates with, and serves its customers.
  • Investment activity in the hospitality sector was $24.81B in 2017, a 35 percent decline relative to $38.06B recorded in 2016. Investors are buying existing properties instead of funding new development, preferring to avoid cost overruns and delays.
  • CRMs are driving a revolution in personalization for clients, engaging with them on site, offering promotions and incentives based on their real time activities.
  • Hospitality is moving toward providing customer experiences, providing not only accommodations and services, but emotionally resonant moments, driven by millennials ever growing appetite for personalized marketing.
  • While home sharing has impacted the hospitality industry from outside, much of the industry’s most disruptive innovation is being driven internally, as major players continue to compete fiercely for customers.
  • Part of our coverage on Decentralization in Hospitality

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