Millennials In The Hospitality Industry

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VIDEO TRANSCRIPTION

Millennials In The Hospitality Industry

My name is Sash and like you, I’m a millennial. I’m going to be showing you how and why the millennial trend is affecting the hospitality industry. The millennials are also known as generation Y, born between 1980 and 1999. Right now in the world, there are more than 83.1 million millennials. That’s more than eighteen million more than the previous baby boomers generation. Some of the characteristics of millennial are that they want everything to be delivered to them now and there. They’re also very technologically savvy. Meaning, they grew up in an age where all they knew was technology. More than ninety percent of millennials are avid Internet users and more than eighty percent sleep beside their phone. Now just imagine, if 247% more likely than the last generation to be influenced by blogs and social media.

Another characteristic of millennials is that they are very wanderlust.

Set more than seventy-five percent of millennials in the year 2015 are interested in traveling. One in three of those travelers in 2015 is millennials. An average millennial plan on around nine trips per year and by 2020, half the money spent in the travel sector is going to be coming out of the pockets of millennials. Fifty percent of millennial say they will increase the amount that they spend for traveling as well. The millennials are also very spontaneous. I’ll see you in Fiji. Millennials are also very cost conscientious. Meaning, they want high value for little money. 280 for Coca-Cola? I will go back to Canada. Considering millennials consume a lot of information on a daily basis, they do a lot of cross-checking and research before going on a trip. They’re also very spontaneous, often looking for the next unique experience. they are also very active on social networks such as Facebook and Twitter. Right, Timo? Now, we will be going into SHMS liaison to see if we can find some of the millennial is in their natural habitat. So let’s go have a look. So now we’re going to be doing some interviews. I believe I can see some people over here, so let’s go ask them. Hi, girls. Is it alright if we ask you a question and you guys just give us your best answer? It’s ok. Sorry. Is it okay? Alright. So, how do you guys book a hotel? How do you do it? Through booking.com, Expedia, OTAs and stuff. And when booking a trip what are your deciding factors? Safety, distance and the cost. And how many trips, on average, would you guys take a year roughly? Twice or three times a year. Hello, Steven, is it alright if we ask you a few questions? Sure. Absolutely. So how do you go about booking a hotel? Many times I just book a hotel online. Just online through a travel agent, online travel agencies? Never. With travel agents, you have to pay maybe some agency fee. I don’t want to pay a lot of extra money. Okay. And then when booking a trip, what kind of trip are your deciding factors? Factors, deciding factors? Yeah. What do you mean “Deciding factors?” do you mean you book because of your cost? Yeah. And would you book a hotel with Wi-Fi not include or Wi-Fi has to be included? Absolutely. It must have Wi-Fi or I can’t live without my Wi-Fi. And how many trips, on average, would you normally take per year. Per year? Maybe three times or five times. And then when booking a trip do you book months, weeks or days in advance? Never. I think the maximum is a week. I just book one week because I have a lot of holiday in my career… and you like to book on the weekend? Yeah, for sure. Short trip is okay. Well, very well, Stephen. Thank you very much. We appreciate your answers. We’re going to find out some more answers from their students. Let’s go check it out. Excuse me, Juliana, is it alright if I ask you some questions? Yeah, of course. Tell me. How do you book a hotel? Booking.com. booking.com? Yeah. Oh, it depends. That’s actually some hotels they have a contract with SCG and stuff. So, just call them and say, “Hi, I’m a student from SHMS” that’s it. And when booking a trip, what are your deciding factors? What are yours? I’m looking at the cost efficiency, distance. Right. Yeah. It depends. It depends on the location and the destination actually. If it is a [not clear] city, why not to get a fancy hotel, maybe, if it’s not too expensive. It depends if we were together with like friends and stuff. On average, how many trips you take a year? Oh. Depends. (Video was fast forwarded). And when booking a trip, do you book months in advance or weeks or perhaps even days? It depends. It’s easier to book sometimes days in advance. You don’t need to think too much, I guess. But, sometimes also good to plan in advance because you get cheaper prices, like lower prices for hotels and everything. So, it really depends for me. But for going home, I really need to think like five months in advance sometimes. Ok. Well, thank you, Juliana. Now, we’re going to go into Sitio. This is where the SHMS students come to eat. So we’re going to find a lot of people that we may be able to we get some answers from. so let’s go. This way. Maggie, come here. Is it alright if we ask you a few questions? Yeah, sure. Right now? Yes. Awesome. How do you book a hotel? How to book a hotel? Good question. First of all on TripAdvisor. I check the reviews. Just to OTAs mostly? Yeah. Post them and then just book it, get the best rate. And when booking a trip, what are your deciding factors- cost, distance? Cost normally. Costs normally? Okay. And how many trips, on average, you take a year? Around five or six. It depends on what I am doing. Five or six times a year? Yeah. And when booking a trip do you book months in advance, weeks, days even? Oh, it actually depends. I mean, if I’m just going for a weekend trip, days. If I go for a longer a vacation a month, two months maybe. Okay. Great, Maggie. That was really good. Thank you. You can enjoy your dinner now. Yeah. Thank you so much. Thank you, Sash. Would you mind answering a few questions for us? Just come over here if you wish. Right. Hello, how are you? I just want to ask you a few questions about the hotel industry. We’re trying to get answers from our millennials. How do you book a hotel usually? I ask other people to do it, to book the hotel. But sometimes I have to… if you had to do it personally you would do it through… Booking.com. booking.com. So, OTAs. Yeah. OTAs. So you would normally call the hotel or? Sometimes I would call them if have breakfast menu or something like that. Okay. Good. And when booking a trip, what are the deciding factors? I mean, like the price is number one. And also the destination. Price and the distance? Yeah, the distance. Okay. What about amenities from the hotel, anything important for you? Not in particular because sometimes I just have lower rates and everything. Okay. And how many trips, on average, do usually take per year. Per yearly, it could be five or six times. Five or six times? And when booking that trip, do you usually book months, weeks or days in advance? How often? Probably months, months in advance because there are cheaper. Well, thank you. That’s all we need. Enjoy your dinner and have a good day. Thank you, we appreciate it. As you can see, with all these demands from the Millennials, the hotels need to keep up with the trends that are being set by this newer generation. Hoteliers realize this and changes in the industry are already being done. New technology is being introduced in hotels all over the world from online check in at Hilton to new apps or rewards and concierge services from Marriott and Intercontinental. The hospitality industry has gone mobile. New hotel brands targeted towards the millennials are being introduced such as the Radisson red from Carlson Rezidor. With traditional advertising losing its value, new marketing strategies are getting put in place with the hotel’s presence on social media and review sites such as Trip Advisor, most hotels have their website professionally done as this is usually the first point of contact the customer will have. To conclude, millennials are going to be the dominant customer in any industry, but especially within hospitality. Furthermore, they’re going to continuously affect the past and the future generations. For hotels to prepare for millennials, here’s a few recommendations for you. First off, don’t sell; engage your guests through very interesting intuitive ideas, be very active on your social networks such as Facebook, Twitter, and Instagram; focus on social responsibility and try to be conscious about the environment. Being a millennial is not about age, but more the mindset that the hotels have embraced and have started to understand and to be flexible with. As we are millennials ourselves, this trend affects us in terms of our career. In the future, there might be more job opportunities for us as the skills required over the years will change to our favor.
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