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At HX: The Hotel Experience, we know that Millennials are the main drive of new trends and have increasing influence on the future of hospitality. At this year's show, you'll see many of the latest technology, products and services as a result of new trends set by a younger generation. HX: The Hotel Experience is the show to attend if your goal is to stay up-to-date with the latest in hotel and hospitality.
Millennials are the next big spending generation, the generation that once solely consisted of high schoolers and recent college grads, but now have families of their own. More importantly, though, they together have hundreds of billions of dollars in spending power. For those that are spending on travel, there seem to be a few trends to take note of, including conscious capitalism and solo traveling.
First, is the concept of conscious capitalism. As noted in previous articles, the younger generation is very much in tune with social issues and brand promotion of businesses that align with their values. In an article by Jeff Fromm on Forbes.com, he looks at Atlantis Paradise Resort. The resort was designed to be the ultimate casino resort, with endless adventures for kids and families. The resort allows kids to go on their own adventures while parents can have their personal time.
Along with the incredible paradise they have created are unique experiences with conscious capitalism as well. Atlantis Paradise Resort has promoted and used brands that take into account more than the next quarter's earnings, and take into consideration the needs of their employees, communities, and environment. They also have taken a, “We live here too,” mentality to their resort. Allowing guests to feel more engulfed in Bahamian culture.
A second growing trend among millennials is solo traveling, especially among female millennials. In a survey by Booking.com, they found that 72% of American women have traveled alone, and hospitality websites and startups have been catering to this growing trend. Recently, the home sharing app Overnight a new feature that partnered with the popular Facebook group Girls LOVE Travel; A group that provides safety tips and social support to solo female travelers. Women who like the page can receive 30%-80% off select rooms, some exclusively for women.
Overall, millennials are looking for unique experiences, brand consciousness, and Instagram-worthy spots to spend their leisure time. While getting started on being a more conscious capitalist, take note of who is frequenting your locations. Get more in touch with your target consumer, and the trends they follow. For example, if you notice many solo female travelers are visiting, trying to find what can be more accommodating to this increasing demographic, and see what can really resonate with your newer, younger guests.
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To see more of the latest trends in hospitality, don't miss HX: The Hotel Experience this November 12-13 at the Javits Center in New York City. You can find more info, as well as register to attend the show, on our website here: www.thehotelexperience.com
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