Hotels are in flux. Guests are less loyal and more demanding than ever before. They flock to online travel agents (OTAs) and aggregators to find the best hotels and deals – which helps operators fill their rooms, but at a cost. Meanwhile Airbnb and the sharing economy continue to grow in popularity.
At Grant Thornton, we believe that short-term agility and medium-term strategic innovation are viable responses to these challenges. If hotels embrace the digital revolution – technologies that blur the lines between the physical, digital and human spheres – they can turn disruption to their advantage.
One thing is certain: the sector is changing fast so hoteliers must think in bold new ways, even if this means challenging the tried-and-tested business model. In this new series of reports we draw on examples from across the industry to share practical advice that leads to growth.