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Experiential Travel: Trends Shaping the Hospitality and Tourism Industry

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Experiential Travel: Trends Shaping the Hospitality and Tourism Industry Experiential Travel: Trends Shaping the Hospitality and Tourism Industry Presented by: Bridget Bordelon, Ph.D Vacations, Planning, and Happiness Source: Project Time Off, 2017 The GOOD NEWS! The jump in vacation usage from 16.2 to 16.8 days delivered a $37 billion impact to the U.S. economy. Planning time off is associated with increased happiness Planners are “very” or “extremely” happy with their relationships, health and well- being, and job. The largest boost in happiness comes from the simple act of planning a vacation. The effect of vacation anticipation boosted happiness for eight weeks. Source: Journal of Applied Research in Quality of Life The Solution Better Planning: Using Apps and Travel Organizers A majority (52%) of workers who say they set aside time each year to plan out their vacation days take all their time off, compared to just 40 percent of non-planners. They also tend to take longer vacations. 75% of planners take a week or more at a time. Travel Trends Generational Travel: Millennials and travel with children (1946-1964) (1965-1979) (1980-1999) (1996-2010) • Adapting to a digitized • Entrepreneurial, restless • Digital natives • Uncommon working life environment and self-sufficient • Use the internet daily • Creative and proactive • Use electronics for • High purchasing power for work and personal • Use several social news, organizing trips, • Dedicate free time to • Love experiences networking platforms at search for services and hobbies, travel, and • Interested in once learn about products sports technology, lifestyle, • Internet is fundamental • Interested in politics, • Family is fundamental travel and sports • Impatient and desire economics, art and • Preferred communication • Use social networks to personalized treatment culture is email or telephone as communicate and • Committed to social • Preferred well as apps or social follow news and issues communication is email networking celebrities or SMS (2019, May 27). Millennials, Z generation and other generations in marketing. Retrieved from https://multiconversion.com/millennials-z-generation-and-other- generations-in-marketing/ Travel Motivations Baby Gen X Gen Y Gen Z Boomers Check off Focused on Traveling Experimental Bucket List family travel for romance; travel; destinations weekend authentic getaways experiences in unique destinations Elkind, D. (2019, May 21). Travel Trends: On The Go With Generation Z. Retrieved from https://www.cmo.com/features/articles/2019/5/15/generation-z- travel.html#gs.0ppomv Millennials rely on social media for up to date information on attractions, airlines, hotels, events, even weather conditions. They trust information from peer group over that from experts. Source: Pexels.com Millennials: Have Children and LOVE to Travel • 53% of millennials already have children -- raising the total number of U.S. women in this generation who have become mothers to 16 million. • Strong belief that raising a well-rounded child is through travel, adventure, and acceptance of other cultures. • There are 80 million millennials in the United States who average 2.6 trips per person each year. Among millennials, families travel much more than couples or singles. Millennials with children are also traveling more internationally than any other demographic group and taking more than one vacation, often an adventure trip. National Center for Health Statistics, 2015 How to Reach these Travelers? • Sharing and linking Instagram, Facebook and other social media posts • Engaging with followers directly on social media • Encouraging customers to share pictures and videos • Creating places for user generated content on company websites Family Travel Image: Familytravel.org Travel builds family bonds. With children involved in the destination planning. Image: Parenting.com Millennials with Children • Tour operators are adding adventure activities for families with younger children to their repertoire. • Camping is also popular; according to a recent survey, millennials now account for 38 % of the 75 million active camper households in the U.S. Millennials Want An Experience Millennial Feel obligated to post parents read user their own 64% reviews 60% recommendations Todd Smith, CEO of AdventureSmith Expeditions says his best-selling cruise for millennials is to Antarctica because of the sense of adventure--they can share the experience online. Nature Based Trips Nature Based Trips garden and forests cycling walking and hiking fishing canoeing and water sports camping Vacations with a purpose Image: Familytravel.org Transformative Travel: Nature and Culture Developing a deeper connection and mindfulness Health and Wellness Physical Activity Spiritual Activity Cultural Travel Volunteerism 3 Phases of Transformational Travel: 1. Departure People are 2. The Initiation searching for a deep shift even 3. The Hero’s Journey—the Return after the trip ends. AHLA 2018 Survey: Hotel Trends • Millennial travelers value community and convenience 10% of upscale properties reported implementation of communal spaces Grab-n-go marketplace have increased from 21% in 2016 to 31% in 2018 • The lodging industry values sustainability Green Certification are up from 16% in 2016 to 25% in 2018 2/3 chain hotels report some type of water saving program • The shift towards mobile Using mobile apps to access hotel services has risen from 35% in 2016 to 40% in 2018 Mobile devices as room key use has risen from 6% in 2016 to 17% in 2018 A. H. L. A. (2019, March 15). NEW HOTEL TREND SURVEY REVEALS MAJOR ADVANCEMENTS ACROSS THE INDUSTRY. Retrieved from https://www.ahla.com/press-release/new-hotel-trend-survey-reveals-major-advancements-across-industry Thank you! Dr. Bridget M. Bordelon Lester E. Kabacoff Chair in Hospitality Management 504-280-6906 [email protected].
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