“Millennials” is the hottest buzz word circulating through the media and business communities right now. Companies across all industries are intrigued by the influence and purchasing power of the 92 million individuals who make up this tech-reliant generation. Industries, including the hotel sector, are going to great lengths to learn more about how to communicate with millennials, gauge their interests and, ultimately, capture their dollars. At first glance, it may seem that independent hoteliers won’t be able to compete head-to-head with the major brands who are spending millions to grab their attention. However, the reality is that independent hoteliers are positioned perfectly to benefit from the shift in consumer behavior that is being initiated by millennials.
In their 2014 “Millennials & Travel” report, travel and hospitality marketing firm MMGY Global noted the following in regards to how millennials are shaping the travel industry:
• 6 in 10 would rather spend their money on experiences than material things.
• 33% took at least one vacation within 50 miles of their home.
• 24% are planning to take more overnight trips for leisure purposes in the year ahead.
• Millennials took 4.6 overnight trips on average last year (versus an average of 4.2 trips for all U.S. households with an annual income over $50,000)
• Millennials are expected to spend incrementally more on travel services than any other age cohort during the next 12 months.
• Millennials will be the driving force behind the continued recovery of the U.S. travel industry.
With their interest in local, experience-driven travel, millennials have the population size, influence and money to catapult the independent hotel segment forward and position it for sustainable, long-term success. However, to harness their power, independent hoteliers must learn the best methods for connecting and communicating with them. So as a generation that has grown up in the digital age, this is where social media comes into play for independent hoteliers.
In our latest report, “Social Media Marketing Essentials for Millennials,” we provide tips to independent hoteliers for leveraging social media channels, like Facebook and Twitter, to attract traveling millennials. As mentioned, millennials have matured alongside the advancement of personal technology, including cell phones, tablets, laptops and now smartwatches, so they naturally rely on social media to keep in touch with friends, monitor news and build relationships with brands they enjoy. Millennials are re-shaping the travel industry, so independent hoteliers must prepare now so they can reap the rewards that are sure to come in the near future.
Download “Social Media Marketing Essentials for Millennials” today.