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The changes to the hospitality industry may understandably seem overwhelming at times, given how broad they are and the speed with which they are taking place. However, with the right approach, hospitality managers can make the requisite changes to operations in order to take full advantage for commercial success.
What is clear is that it will be the proactive managers and businesses, open to and embracing of change, with an intuitive understanding of how these hospitality trends represent unprecedented opportunities for business growth, who stand to benefit the most.
These 2022 and 2023 trends are driven by demographic movements, advancement in hospitality technology, and the importance of the mentality and approach from upper management. By designing a new, broad strategy that encompasses all aspects of hospitality for the modern market, and a willingness to evolve beyond traditional methods whose effectiveness is on the wane, properties can chart a robust, successful path forward. We have seen that failing to do so, and continuing by “sticking with what we know”, hospitality businesses may run a serious risk of falling behind their competitors, which can quickly transform into an existential threat.