Hospitality Directions -- Europe Edition
EmptyToday's competitive hotel landscape is rapidly evolving into a new world where new rules apply. In a consumer-driven era of lifestyle media and expanding choice, sea changes in consumer behaviour mean lifestyle hotels -- like any other consumer-facing business -- must compete ever more fiercely to reach and engage consumers. So intimate knowledge of consumer behaviour is becoming a prerequisite for being in the game, with consumers likely to demand even more innovative and exciting hotel experiences in the future.
PricewaterhouseCoopers' parallel research into the media sector highlights the emergence of a converged media world where consumers increasingly call the shots, not just on their personal video recorders and their iPods or via online communities, but across all areas of their lives. Hotels and travel businesses ignore at their peril the opportunity to deliver a personalised experience in customers' desired format. In the online environment, consumers are demonstrably prepared to 'pay' for rich experiences by providing personal information. The same will be true of hotels -- and, as they strive to engage new customers, the existing business models of many hotel companies may not yet be geared up for this consumer-driven era.
Launched in January 2000, PricewaterhouseCoopers Hospitality Directions -- Europe Edition is a biannual research journal, with quarterly forecast updates, offering original research on the European hotel industry. The journal draws on PricewaterhouseCoopers economic modelling skills and industry knowledge.
Additionally, a podcast discussing the U.K. hotel forecast and also the rise of the Lifestyle Hotel sector is available at www.pwc.com/uk/hdepodcast