ccording to the Hospitality 2000: A View to the Next Millenium global research study, the following trends in five key areas (market, products, organization, capital, and technology) are prompting such alliances and management training changes:
The industry will shift its primary focus from physical assets (the hotels we own and manager) to virtual assets (customers).
The globalization of world business and lifestyles – and the growth in international travel – will be major forces in marketing hospitality products in the year 2000 and beyond.
Leisure travel will significantly outperform the business travel segment in the future.
Greater reliance on third-party marketing research and focus groups as a means of assessing guest needs and satisfaction in future.
Rapid market changes and explosion in new technologies require innovation in designing hotel product of the future.
A continuation of the current trend of consolidation and brand expansion. Global Chains dominate as customer expectations rise.
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