The hospitality industry worldwide is shifting constantly but with the additional rationales applicable in the subcontinent, the Indian travel and hospitality industry is evolving faster to thrive itself. With news of curtains been drawn over some of the offline travel agencies, rise of AirBnB and Oyo – it’s clear indication that one mode isn’t killing the other but the modus operandi needs to be transformed rather quickly to keep one above the curve.
Traditionally offline travel agents were the only choice to book travel. One would simply call them or meet in the office, told them where you wanted to go, and it was DONE as the agents did all the annoying work of talking to airlines, hotels, transportation et al. Then came OTAs (online travel agencies), allowing one to book all the aforementioned and additionally attractions like tours and sightseeing, all in one place. But recently with another where people are moving away from OTAs and toward handling things themselves again. But this time around not via offline agents, they don’t need a middleman of any kind, digital or otherwise. For hoteliers, this an opportunity when a guest call the hotel to book rooms directly the reservations team can make sure they have the most convenient possible experience and convert those lookers into bookers.
Do we really know why guests are choosing one property over others, and what they expect when they arrive? It’s a big point of discussion but for the subject of the blog will focus on it’s relevance to evolution for existence. There is or if we can say “there was” a void with a lot of untapped opportunities in the budget hotel segment. However, the same is right now catered or minted by Oyo, Airbnb with convenience and some standardization. One of the highest rated quality based on today’s guest reviews for properties are – location, location and location which also got addressed with platforms that permits ordinary people to rent out their residences as tourist accommodation. As the prominence of alternative accommodation continues to rise, many hotel have to change up their business models in order to appeal to the all-important millennial traveler.
The transformation has to be examined through the lens of disruptive innovation theory, which describes how products or services that lack in traditionally favored attributes but offer alternative benefits can, over time, transform a market and capture mainstream consumers. The concepts of the current disruptive innovation is built around modern internet technologies, distinct appeal, value for money and the potential to explore more authentic local experiences.
“Without information, you’re hamstrung in terms of making intelligent decisions around your business” — Unknown. Intelligent guesses or the way it worked last time doesn’t help the cause in the momentum shift. Several reports show the growth in contract freelancers and consultants to get the quality work done by someone or a firm who is an experienced professional or a subject matter expert.
Pic Courtesy: Arghyadeb Dey