Week 12 - Hotel Job Growth, Anthropomorphic AI, Hilton goes Big!
Week 12 - Hotel Job Growth, Anthropomorphic AI, Hilton goes Big!
300 Digital Nomads in total applied to the new Spanish Visa, there is already talk of rent impact!
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TLDR:
News Snippets
Bocuse d’Or, Terrorism, Galapagos Fees
Follow Up
Spain's Digital Nomad Visa
Main Hospitality News
Hotel Job Growth Surges
Hotels in War Zones
Hilton's Expansion & Tech
Asia-Pacific Travel Trends
Externalities
Germany Legalizes Cannabis
Milei's 100 Days in Argentina
Biden vs. Trump Debate
Gaza Ceasefire Veto
Academia
Predicting Hotel Cancellations
Virtual Agents in Tourism
Readables
Task Management Strategies
Tips & Tricks, Tools & SaaS
Social Media Strategy for Hotels
0. News snippets
Not important enough to expand on, but worth hearing about
Bocuse d’Or cooking competition was on this week, Danemark won | A terrorist attack killed at this moment hundreds of people in Russia, turns out ISIS is still out there | Galapagos Islands are doubling their tourism fee in an attempt to control tourism flow, from 100 USD to 200 USD.
0.5 Follow up
Where we follow up on news from previous weeks
Spain's Digital Nomad Visa: A year after.
Spain introduced a digital nomad visa to attract foreign talent, resulting in 300 visas issued by the end of 2023.
Applicants face bureaucratic hurdles, such as proving social security payments in their home countries.
The visa aims to boost the local economy but has also apparently raised concerns over its impact on housing prices and social cohesion
With 300 applicants any talk of any impact is useless. Thousands of people move from one country to another within EU on daily basis. Any talk of any meaningful impact is thus like saying “Opening up a baggage assist stand in the Airport should attract more tourists, hence higher rents in the city. Should we close the stand”. Euronews seems to be convinced otherwise.
1. Main Hospitality News
Core news related to the industry
U.S. Hotel Job Growth Surges
AHLA Foundation reports 12% growth in hotel jobs over five years, beating national average.
Study reveals significant entry-level job opportunities, no college degree required.
Interactive dashboard by Lightcast aids in exploring hospitality careers.
This forecast highlights the pressing need for developing skilled hospitality professionals. In a way a bad sign for the rest of the economy where people are deciding to take the lowest paying entry jobs in hospitality, but oh well... More on this here.
EHL's "Hotels in War Times" Conference
EHL Hospitality Business School hosts a conference on managing hotels during conflict.
Industry experts from Kiev & Jerusalem discuss operational challenges in conflict zones
The event underscores EHL's commitment to exploring hospitality's societal impact.
What would their conclusions be? No reason to guess. Will summarize the results next week. For more details, visit EHL's site here.
Hilton's Strategic Expansion and Technological Advancements
Hilton predicts a 27% increase in adjusted EBITDA by 2026, emphasizing its dominant global hotel pipeline.
The chain claims the biggest hotel pipeline in the world!
Significant investments in technology, including AI and automated pricing, are set to revolutionize operational efficiency.
The question remains: will these strategies set a new industry standard for combining expansion with innovation or is just a gimmick for some juicy short-term stock gains? For more insights, visit Skift.
2024 Travel Trends: Asia-Pacific Focus
Skyscanner reports a shift towards regional travel within Asia-Pacific for summer 2024.
Interest in European travel declines among APAC tourists, with a preference for closer destinations.
Trends indicate a return to pre-pandemic travel behaviors, with longer booking windows and traditional seasonality.
Overall though no drastic changes have occurred compared to 2023, except minor % changes in various stats. Full details on these insights are available here.
2. Externalities
Econimics, finance, geopolitics. All have an impact on the hospitality sector.
Germany Legalizes Cannabis Cultivation
Germany's parliament legalizes controlled cannabis distribution for adult consumption.
Adults can grow up to three cannabis plants and possess up to 50 grams at home.
Legislation part of Chancellor Scholz's reform, aiming to adjust drug policy and boost industry.
This is obviously another major shift amongst the EU countries and would be an interesting to trend to track to see if attracts more travel, tourism and money. More on this development can be found here.
Javier Milei's First 100 Days in Argentina
Argentina's President Javier Milei claims early economic victories amid a challenging start.
Milei's radical reforms face high inflation rates and legislative hurdles.
His policies aim at fiscal surpluses, despite risking increased public discontent and economic strain.
Milei's administration is navigating a fine line between ambitious fiscal reform and the socio-economic stability of Argentina. The success of these measures hinges not only on legislative support but also on public tolerance for short-term sacrifices for long-term gains. If he and his office make it, this will mark a change after almost a 100 years of failure. For an in-depth analysis, visit The Economist.
Biden vs. Trump: Are Americans Better Off?
In the lead-up to the elections, both Biden and Trump have revisited the "are you better off" question, drawing stark contrasts between their administrations.
Biden reflects on the early pandemic struggles, emphasizing the dire situation before his tenure. Trump counters, claiming Americans were better off under his leadership, citing stronger national and community well-being.
A February AP-NORC poll reveals mixed feelings among Americans regarding their current state compared to when Biden took office, with a notable partisan divide influencing perceptions of progress.
This back-and-forth between Biden and Trump underscores a deeper, ongoing debate over American well-being and leadership effectiveness. For a closer look, read the full analysis in the original document.
UN Resolution on Gaza Ceasefire Vetoed
Russia and China veto a US-led UN resolution demanding an immediate ceasefire in Gaza during Ramadan.
The draft aimed for a ceasefire, release of hostages, and expanded humanitarian aid but lacked support for ongoing diplomatic efforts.
Accusations of cynicism and obstruction against Russia and China, highlighting the complexities of international diplomacy on peace efforts.
First US did not want peace, now Russia and China don’t. The incident underscores the intricate dance of global diplomacy, where strategic interests often overshadow humanitarian concerns. Further details can be found in the article.
3. Academia
Scientific papers related to the topics above. For those who want to know for sure ;)
Predictive Analytics in Hospitality
Study develops a model to predict hotel booking cancellations, reducing revenue loss.
Focused on anticipating guest cancellations to improve service and preserve brand reputation.
Utilizes deep learning to analyze patterns in past demand data for proactive management.
This advancement in predictive analytics underscores the potential for AI to mitigate financial risks and enhance guest satisfaction in hospitality. The study is very surface level though and as not been tested on 1000 thousands of rooms at a time. However, still ahead of others.
Digital Revolution in Tourism: Virtual Agents
Emergent study reveals positive impact of anthropomorphic virtual agents (AVAs) in e-booking.
AVAs enhance user intent by boosting perceptions of humanness in digital service.
Emphasizes on attributes of agency and emotionality, underscoring their role in user engagement.
The integration of AVAs in the tourism sector not only streamlines operations but fundamentally alters the user experience, suggesting a blend of human touch in digital interactions. Soon we might see tags, “Made by Humans” with goal of boosting sales. For more insights, explore the full study here.
4. Readables
Books, podcasts & the big stuff.
Task Management in tough environments
How does one manage teams and processes? There is an easy start to this and its called “Eat That Frog”. Check out this book if you or your team is struggling. Here is a summary for those who are short on time.
5. Tips & Tricks Tools & SaaS
Any new software you can use? Industry tricks you missed?
Crafting a Robust Social Media Strategy for Hotels
Key components include audience analysis, platform selection, and content planning.
Emphasizes on setting clear objectives, engaging content, and measuring performance.
Offers a comprehensive guide for leveraging social media to enhance hotel visibility and guest engagement.
Delving into the realm of social media, hotels find themselves at a crossroads of opportunity and complexity. Another guide that attempts to convince you to buy “their” unique product, however who knows? You might learn something reading it! Explore the detailed strategy here.