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The new kinship economy: From travel experiences to travel relationships

The new kinship economy: From travel experiences to travel relationships

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Published by TravelDailyNews
The new kinship economy: From travel experiences to travel relationships
The new kinship economy: From travel experiences to travel relationships

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Published by: TravelDailyNews on Mar 12, 2013
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The new kinship economy:
From travel experiences to travel relationships
PrefaceIntroductionThe Customer JourneyWho is the traveller?The new global explorersNew ‘family’ groupsYounger ‘laptop and latte’ workersExpansive midlifersPlanning the tripPre-emptive feedbackDigital baggageWhere are they staying?The hotel in the communityUrban tensionWhat’s the experience?The invisible travellerPredictive servicePost travelCircular not linearConclusionPage 1Page 3Page 5Page 7Page 8Page 9Page 10Page 11Page 13Page 15Page 17Page 19Page 20Page 22Page 24Page 25Page 26Page 28Page 29Page 30
2013 marks ten years since IHG became a global, standalone hotel company, with the bold ambition to build and evolve themost preferred hotel brands around the world, delivering Great Hotels Guests Love. This anniversary offers us a natural pointto look forward at how the world of travel is likely to change over the next decade, focussing on the people at the heart of ourbusiness – our guests.We have spent time listening to them and studying consumer trends, both from within our own business and across theindustry to see how travel is evolving. By understanding how the needs of our guests are changing, we can ensure that wecontinue to meet and exceed their expectations.To this end, we have commissioned this report from The Futures Company, pulling together their own existing research andcombined it with our own insight to identify the main trends that look set to shape travel over the next ten years. It exploresthe growing impact of technology on the guest experience and the emergence of new ‘groups’ of travellers, each with differentneeds. It looks at the status of cities, established and as yet undiscovered, as growing destinations in their own right. Itconsiders the paradox between the fact of globalisation and the desire for increased personalisation from guests.And, with travel now so integral to so many consumers’ lives, experiences and identities, it suggests that we can no longer
dene the traveller in our terms - we need to take the time to understand and talk to them in their own language in order to
build deeper, more lasting relationships.So, how should these themes inform the way we innovate for the future? In order to meet guests’ needs in this changingworld, we need to ensure that as well as being industry-driven we are customer needs-driven. Our business has been built onpipeline, distribution and openings – still a vital focus for growth – but we must be demand-driven as well. Just as many of ourguests no longer have a single focus for their trips, we need to be multi dimensional in our approach to building and retainingtheir loyalty.
Hospitality has always been about building relationships, but in the past, our industry has dened our relationships with
guests in a very service-orientated way – ‘Luxury’, ‘Midscale’, ‘Economy’. This report shows us a future where relationshipsbecome more of a currency in their own right, a ‘relationship economy’ where consumers expect a travel experience that feelsrelevant and unique to them.
For hotels, this means we need to redene this service approach and personalise it so we can build social relationships with
our guests at a deeper level.In the future, brands will play an increasingly important role in this relationship economy. In the battle for the loyalty of ourguests we must be clear on the needs that our brands satisfy. We will achieve that by ensuring that we understand our guests’needs and desires, what they want to know, experience, feel as well as the high level of service they would expect. Whetherthey are on a business trip, a romantic break or connecting with their families, we need to reach and engage them in new andrelevant ways though brands that they can build a relationship with.Within the IHG family we have brands with deep history and powerful heritage that guests know and love and that areinstantly recognised by millions around the world.In our 10
anniversary year we are working to fully realise the potential of the IHG brand as a whole.We want our guests to continue to prefer our brands and understand that every one of them is a hotel that is part of the IHG
brand family with the badge of trust and condence that this brings.
Richard SolomonsChief ExecutiveInterContinental Hotels Group
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