Insights Type: Reports

HSMAI Customer Insight: Travelers Use and Support Short Term Rentals | Longwoods

According to the latest Longwoods International tracking study of American travelers, 47% of them are likely to stay in a short-term rental (Airbnb, Vrbo, etc.) on their next trip.   A similar 49% of travelers support having short term rentals in their own neighborhoods, with only 18% opposing them.  And among those travelers who use this type of accommodations, that support level jumps to 69%. “The impact of short term rentals on the lodging sector is significant,” said Amir Eylon, President and CEO of Longwoods International. More Insights from Amir Eylon for HSMAI:

 

Read the full report: American Travel Sentiment Study – Wave 74 Travelers Use and Support Short Term Rentals

Corporate Culture and Values Matter

Talent issues continue to dominate headlines and high-level corporate discussions. The need to restore trust in hospitality companies is essential to attract and retain qualified professionals. 

Environmental, Social, and Governance 

CSR, particularly in the areas of environmental, social, and governance (ESG) issues have been the focus of numerous conference panels. Organizations perceived as socially responsible benefit with increased loyalty, engagement, and brand image. 58% of U.S. employees consider ESG issues when choosing a place to work. Sustainability initiatives and environmentally responsible practices are also increasingly important to guests and meeting planners.  

This has encouraged hotels to market their offerings – sustainable, regenerative, and locally immersive travel experiences – as consistent with their corporate values. Transparency is expected from organizations on how they address their roles within the communities in which they do business. Talent-facing culture and values initiatives have become more significant as hotels face labor shortages that disrupt business operations. Employee engagement increases when people feel their values match those of their company. 

Diversity and Equity  

A hotel’s diversity, equity, and inclusion and belonging (DEI&B) policies are also guest considerations, especially impacting business travel and conference venue choices. In addition, inequity in pay and promotions have been shown to increase turnover and lower engagement. 62% of U.S. workers say they consider DEI initiatives when considering a job offer. 

Inclusion and Belonging There is increasing evidence that diversity and equity efforts can fail when the culture of the organization is not inclusive. Hiring people from historically underrepresented communities is not enough to make an inclusive and equitable environment. True inclusion and belonging takes a culture that celebrates and values differences and works to identify and address inequity and biases. 

The HSMAI Foundation commissioned research in September 2022 to learn how Black hospitality professionals viewed their experiences. All respondents were in commercial positions at the manager level and above. The research showed that of respondents:  

    • 78% thought their managers were not equipped to manage a culturally diverse workforce.
    • 78% indicated they could not thrive in their current work environment. 
    • 83% stated they did not receive the same compensation packages as their White counterparts. 

 

Representation matters and several hotel companies and associations have begun to address the fact that women and people of color make up a high percentage of hospitality employees yet are underrepresented in senior leadership and investor or ownership positions. Programs like those at Wyndham Hotels and Resorts, AH&LA’s Castell Project, Women in Travel THRIVE, and Tourism Diversity Matters have a focus on moving women and African Americans into leadership positions.   

“While there is still work to do, we are proud to see the industry making DE&I a priority and look forward to tracking continued progress in 2023 and beyond,” Peggy Berg. – HN, August 3, 2022  

Calls to Action: 

  • Review your CSR and ESG policies and efforts. 
  • Are you effectively communicating them to guests and employees? 
  • Put practices in place that ensure equitable practices for attracting, onboarding, compensating, promoting, and retaining talent.  
  • Audit the diversity of your leadership. Be transparent with results and create pathways for advancement.  
  • Work with experts to assess your inclusivity and accessibility and ensure your space is inclusive and accessible for all.  

To read more about the top talent trends, download  The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2022-23: HSMAI Foundation Special Report.  

Flexible Work is Here to Stay

Flexible work means many different things, including flexible location, hours, time off, earning potential, job sharing options, and more.

“It’s still the Wild West” is how one senior executive described it. “We have an SOP, which gives us a guideline, but we’re flexible on an individual basis, and more so in some departments than others. Building fairness and equity into the policies is crucial.”

Benefits of Flexible Work

  • Companies broaden their talent pools and recruitment quality.
  • Many companies report increased productivity, enhanced retention, and easier recruitment.
  • Sharing employees across multiple properties can result in cost savings.
  • Shared positions can be more easily created and accommodated.
  • Working from home reduces commuting time and cost.
  • Not having to dress for work saves time and money.
  • Women and people from historically underrepresented groups are shown to benefit from work-from-home policies, they report experiencing less discrimination and stress.

Hotels have always had flexibility around hours, time off, and shift patterns due to the 24/7 nature of the on-property hotel environment, which appeals to college students, care-givers, people with second jobs, and increasingly to older workers re-entering the workforce or seeking shorter hours. These employee-friendly policies increase attraction and retention. LinkedIn research shows that across industries, 80% of jobs can have some flex component.

Challenges of Flexibility

Expanding flexibility for above property workers is not as easy due to the shorter hours of operation, space constraints, and the nature of the work. Some managers report that having flexible scheduling and hybrid options allows employees to cover employment gaps caused by attrition or absenteeism, and individuals who work hybrid cause less disruptions when they need to stay home when sick.

Remote work was the norm for some sales, marketing, and revenue optimization positions. Most hoteliers, however, have always been location based, even in corporate environments, where “everyone under one roof” was the way work was organized.

Employees are driving the need for options. Enforced working hours (“face time”) rather than a focus on productivity and work completion can have a detrimental effect. The pandemic has made work-life balance a priority for many people. Just knowing there is flexibility can support both mental health and wellness.

Productivity Monitoring

Managing remote workers requires new management skills and possibly different metrics to judge productivity. It is also challenging to keep remote workers plugged into the day-to-day office conversations and to consider them equally for new projects or positions. A conscious effort to build an informal communication network amongst all workers in a group can ensure that remote workers aren’t excluded from the community.

Staff training is another important consideration for flexible work. Flexibility often requires more discipline and resources than full-time in-office employees need. Setting standards and metrics that are fair without regard to work time and location can be challenging. HSMAI has a multi-year project across sales, marketing, and revenue optimization professionals to document and define KPIs.

Calls to Action

  • Review the status of your flexible work options.
  • Audit your policies annually as this continues to evolve.
  • Talk to colleagues, review your competition’s website, and ask your team what options they are finding most important, especially for retention.

 

To read more about the top talent trends, download  The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2022-23: HSMAI Foundation Special Report.

HSMAI Customer Insight: Social Media Video Content Powers Travel Inspiration & Planning | Longwoods

According to the latest Longwoods International tracking study of American travelers, two thirds of them utilize travel videos to inspire, inform and plan their trips, up from less than half two years ago. The most popular source of travel video content is social media channels, such as Facebook, Instagram, Twitter, TikTok and Snapchat, with 36% accessing travel videos on those platforms, up from 17% of travelers in 2021. Additional insights for HSMAI from Longwoods President & CEO Amir Eylon:

 

Get the full report: American Travel Sentiment Study – Wave 72: Social Media Video Content Powers Travel Inspiration & Planning

State of Talent Trend: Development, Reskilling, and Upskilling Gain Importance

New skills continue to be in demand as technological change and commercial strategy accelerate. Management upskilling now must also include human resource skills, team leadership ability, and soft skills development. The HSMAI Foundation identified staff development, reskilling, and upskilling as one of the top talent trends this year.  

Generalists or Specialists?  

Perhaps the biggest challenge of 2023 for teams will be that question. In 2019, as the outlook was strong, specialists were rewarded. The pandemic’s wholesale staffing reductions favored the generalists – those who could fill two or three positions or cover several properties, and who would take on operational duties if needed.  

As collaborative teams become more common and RevPAR moves ahead of 2019, specialization has become desirable. Gallup estimates that only about one in 10 people naturally possess high levels of managerial talent associated with excellence in the role. Seniority and skill in a non-management position are the typical qualifications for promotion to management. Selection, training, and support of new managers requires skilled development specialists and dedicated coaching.  

Making new teams more effective takes more than skills, it requires new behaviors.  

Managers and leaders must encourage and support: 

  • Agility 
  • Critical thinking 
  • Emotional intelligence 

Cross-Training  

Cross-Training gives teams flexibility to address complex challenges. This is especially crucial as commercial strategies drive technology choices and data availability. Internal mobility across commercial departments and across the organization can increase innovation and promote understanding.  

Development opportunities are also a terrific way to retain valued employees and support potential gaps in staffing. Developing existing staff allows for growth in capacity in this tight labor market. Employee retention is enhanced when employees have internal mobility either through being promoted or moving to a new position at the same level, according to LinkedIn Talent Solutions research.  

Without internal mobility, 35% of associates will still be employed within three years, with mobility, that 53% will remain.  

Automate What You Can 

Technology is developing to do more of the mundane work which frees up professionals to do more highly skilled analysis, research new markets, and locate emerging opportunities.  

Calls to Action 

  • Get your team members certified, then celebrate AND REWARD their successes.  
  • Make every meeting a training and development opportunity.  
  • Be constantly on the lookout for opportunities to grow your team’s capacity and capabilities.  
  • Link upskilling to career pathing to bolster retention. 

To read more about the top talent trends, download  The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2022-23: HSMAI Foundation Special Report. 

 

HSMAI Customer Insights: Despite Inflation and Interest Rates, Travelers Are On The Move | Longwoods

According to the latest Longwoods International tracking study of American travelers, 93% of them have trips planned in the next six months, the highest level in three years.   A fifth of them have trips planned within a month, a quarter will travel in one to two months and almost a third have travel planned in three to five months. Insights for HSMAI from Longwoods President & CEO Amir Eylon:

 

Read the report: American Travel Sentiment Study – Wave 71: Despite Inflation and Interest Rates, Travelers Are On The Move

HSMAI Customer Insights: For Most Travelers, the Pandemic is Over | Longwoods International

According to the latest Longwoods International tracking study of American travelers, only 12% of them said that coronavirus would greatly impact their decision to travel in the next six months, the lowest level since the pandemic first appeared three years ago.   Concerns about travelers’ personal financial situation greatly influencing their travel plans was cited by nearly twice as many respondents, at 23%, but that was down 7% from a month earlier. Hear more insights for HSMAI from Longwoods President & CEO Amir Eylon:

 

See full report: American Travel Sentiment Study – Wave 70 For Most Travelers, the Pandemic is Over

HSMAI Customer Insight: Holiday Travel Spending Expectations Softening | Longwoods International

According to the latest Longwoods International tracking study of American travelers, the amount they expect to spend on their holiday travel is declining. “Rising prices and interest rates have created financial uncertainty for many consumers,” said Amir Eylon, President and CEO of Longwoods International, who provides exclusive insights on the findings for HSMAI:

 

See the full report: American Travel Sentiment Study – Wave 68: Holiday Travel Spending Expectations Softening

HSMAI Customer Insight: Full Speed Ahead for Holiday Travel Planning | Longwoods International

In Longwoods International’s latest look at Holiday Season travel activities:  Seven out of ten travelers with plans to travel this holiday season will be visiting friends and relatives!  60% indicate shopping trips… and the biggest areas of growth year over year are visiting museums at 27% (up 6 points from 2021), attend a festival/fair at 25% (up 7 points), and attend a live performance at 21% (up 5 points).  Holiday travel is returning more to patterns seen pre-pandemic. Get more insights on the findings for HSMAI from Longwoods President & CEO Amir Eylon:

 

Access the full report: American Travel Sentiment Study – Wave 67: IT’S FULL SPEED AHEAD FOR HOLIDAY TRAVEL PLANNING

 

Commercial Strategy Week Insight: Consumer Trends are the Future of Hospitality

Daniel Levine, Executive Director, Avant Guide Institute, delivered a keynote address on  Global Trends & Evolving Customers…and what they mean for hotel marketing, at the HSMAI Marketing Strategy Conference, part of Commercial Strategy Week 2022.