Did you know that in the next five to ten years millennials will be the core consumers in the hospitality and travel industries?
Understanding how to market to this sector is critical as they enter into their peak earning, spending and travel years. We compiled a few different insights that hotels can begin implementing now, as millennials start becoming the dominate consumer.
First it is important to know the demographics of this target audience. Hospitality Times has put together a detailed infographic showcasing the statistics of this group.
Now that we know a little about them, below are some examples of how we can use our knowledge of this group to attract them:
Millennials are looking for a unique experience and are usually willing to pay more for that better experience. As they soon become the leading group of business travelers, it is important to know what factors can influence their decisions on where they choose to stay. For example, “foodies” (who are a prevalent subset of this market) are looking for a gourmet experience and are willing to spend 42% more company money on higher end meals, compared to only 26% of non-millennials. This means hotels will need to revamp their lobby bars, restaurants and food service to meet the expectations of this sector.
Millennial travelers are also highly tech savvy and expect to have access to the web at all times. This means hotels are going to have to invest in improving wi-fi and bandwidth to ensure its guests can be constantly connected. Make sure that logging on to wi-fi is easy by removing obstacles like faulty passwords or low connectivity, but do not compromise security in the process.
A final insight to this group is that sustainability is an important component in the lives of these socially responsible travelers. Creating and maintaining hotel policies around recycling, composting, reusing linens and towels can enhance a hotel’s reputation and give it a distinctive edge among these environment-friendly jet-setters.
For more insight about how to market to millennials contact us.