“Millennials” is the hottest buzz word and most intriguing traveler segment in the hotel industry today. Identified as adults aged 18 to 35, it’s currently the largest traveler segment and arguably the most influential. Almost daily, articles and research studies are published with data aimed to help hotel owners and operators better understand who these travelers are, what they desire and how much they are willing to spend.
As noted by Hotel News Now, millennials spent 20% more on travel in 2013 than in the previous year – the largest year-over-year increase since prior to the recession. Among the four traveler categories studied by MMGY Global, millennials spent the second most on vacations last year and this trend is expected to repeat itself in 2014. With these findings, as well as many other surveys and studies, showing that young adults are spending their disposable income on travel, the hotel industry is betting on today’s millennials to continue traveling and increase their spending as they mature.
One area that is receiving great attention from operators is hotel reservation software. Millennials are known to be early adopters of new trends, so hoteliers are putting more resources toward enhancing their operations with technology that will help attract and build relationships with young travelers, as well as tech-savvy mature travelers, that will hopefully result in repeat visits and long-term loyalty.
innRoad’s single platform property management system provides hoteliers with cloud-based hotel reservation and global distribution software that positions their properties online to capture the attention of both the young and tech-savvy traveler segments. In this two-part blog piece, we’ll explore the benefits of innRoad’s cloud-based hotel reservation and global distribution software for hotels.
Optimizing online real estate
When speaking with potential hotel clients, we ask if they have a website and how are they using it? It’s the answer to the second question that helps us understand how travelers are currently interacting with their property online. As we discussed previously, a hotel’s website is its most powerful sales and marketing tool. It’s generally a traveler’s introduction to the property and main source of information, so it’s vital that the site contains all of the details and functionality needed to convert their curiosity into reservations.
When properties partner with innRoad, they receive our Booking Engine as part of our cloud-based hotel reservation software package. Its key benefit is that it transforms existing hotel websites into commission-free booking channels. Even with the popularity of online travel agents (OTAs), many travelers still book directly on hotel websites, so providing this channel greatly enhances their ability to seamlessly research and reserve a room within a single online session.
Technological innovations over the past several years have completely changed how the world communicates, conducts business and enjoys leisure activity. A primary example of this is the advancement and adoption of mobile technology. In 2015, manufacturers will ship almost 2.3 billion mobile phones and tablets, a 7% and 12.6% increase over 2014 and 2013 shipments, respectively. Consumer appetites for mobile technology is surging, so hoteliers must identify a way to connect with travelers who prefer their technology on-the-go.
As an add-on to our cloud-based hotel reservation software package, we offer our Mobile Booking Engine. As powerful as our website version, our Mobile Booking Engine streamlines and optimizes search and reservation functions specifically for travelers who make their plans on-the-go. And with 45% of travelers utilizing mobile devices for bookings, mobile technology is a dominant force in the hotel industry that operators must embrace or risk missing a great opportunity to connect with the growing segments of millennials and tech-savvy consumers who are impacting the travel industry on a global scale.
Subscribe to the innRoad blog and stay tuned as we continue this conversation by exploring how global distribution fits into the equation for attracting tech-savvy travelers to your property. To learn more about our cloud-based hotel reservation software package, register for a 14-day free trial of innRoad’s hotel management system today.