Millennials as The New Power Segment in Today’s Hospitality Industry

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The tech-savvy, travel-hungry, and adventure-seeking millenials are the fastest growing customer segment in the hospitality industry today. It is estimated that more than half of travelers in the world by 2025 will be comprised of tourists born from 1980 onwards. With this spectacular growth, hoteliers and resort owners must develop aggressive and novel strategies to engage this segment of the market and tap into new ideas to establish better services that can satisfy the unique and continuously evolving needs of young travelers.

Technology plays a dominant role for this demographic, driven by social media and Web-based conveniences such as mobile hotel check-in, e-payment, and online shopping. Food blogs and travel-related photography portals are other essential drivers. Online forums and communities such as TripAdvisor could also serve as game changers as they can be easily accessed for either raves or complaints about their travel experiences. 

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Culture buffs, trend influencers, the LGBT community, and multi-generational travelers are looking for unique and original experiences. Millennials are known for their diverse taste and willingness to explore different accommodations in search for both affordability and quality service. Many are not too keen about buying luxury service but would bite should an opportunity arise. The baby boomers who are living longer are now also rethinking how to define retirement, and are placing their energy in more creative pursuits.  

John Jefferis, a world-renowned hotelier, has been actively involved in establishing and developing various hotels, restaurants, and resorts that play key roles in the growth of the tourism industry in the Caribbean region. Follow this Twitter account for more industry updates.