The hospitality industry is expanding into newer locations and attracting local talent to meet the unique and evolving needs of Gen Z and Millennials. The intense competition existing in the industry has led these players to accept risks and branch out into entirely new segments for growth in 2023 and beyond.
Updated September 25, 2023 | 4:37 PM IST
New locations, broader portfolio and local jobs lead change in hospitality industry
Following the transformative events of the past few years, the hospitality industry is at a crossroads, redefining its strategy and rethinking its future. While some businesses have faced difficult challenges and struggled to weather economic downturns, others have shown remarkable resilience, quickly adapting and emerging stronger than ever. In this dynamic landscape, driven by the changing tastes of a diverse and evolving audience, especially his Gen Z and Millennials, hospitality industry players are stepping into uncharted territory and creating new paradigms. is starting to take shape.
Younger generations are stepping out to explore the world, driven by a desire for fresh experiences and adventure. As a result, hospitality providers are embracing innovation and transformation, doing everything they can to customize their services and cater to the unique tastes and demands of diverse consumer populations.
A quirky travel gem that’s ahead of its time
The allure of exotic locations and the pursuit of tranquility and sacredness are driving this renewed interest among travelers. From the luxurious nature of the Maldives to the remote Himalayan Kingdom of Bhutan, and even domestic spots like Karjat and Pahalgam.
Mukteshwar, Mashobra, Shimoga – The travel landscape is evolving. A study conducted by MakeMyTrip revealed that searches for accommodation in these destinations have surged by 40%, with the majority of bookings being made by young travelers. This trend is expected to continue and bookings for homestays in lesser-known places like Bir, Kasol, Panchgani, Tirthan valley, Varkala, Hampi and Arak valley are likely to increase in the coming months. There is a gender.
The Maldives continues to attract those seeking the ultimate in tropical luxury, with arrivals to the small island increasing as of March 2023, up from 192,379 in 2021 and 285,978 in 2022. The number has increased to 356,538 people, reporting a staggering 24.7% annual growth. Similarly, in the Himalayan Kingdom of Bhutan, tourism alone created 30,000 new jobs, making it the second largest employer in the sector after civil servants. This shows that tourism has the potential to bring sustainable growth to even the most remote parts of the world.
Tourism and hospitality pave the way for jobs
The hospitality industry has made a remarkable comeback, with hotels, restaurants, recreation centers, and the travel and tourism sector showing strong recovery. This is creating an unprecedented demand for skilled labor in various sectors of the industry. From tour operators to restaurant managers, ticket salespeople to guides, chefs to interpreters, employment opportunities abound across both formal and informal sectors. At the same time, demand for skilled labor is pent-up, with popular tourist destinations and eateries overburdening existing staff.
As a stopgap measure, some hospitality companies are deploying technology to replace some of the human workforce. Restaurant culinary teams have been particularly hard hit by the imbalance between supply and demand, leading to the increased adoption of services such as pre-portioned and vacuum-sealed take-home packs. This approach not only allowed us to maintain hygiene protocols, but also increased efficiency. In the travel industry, traditional jobs of ticket takers and tour guides are rapidly being replaced by self-service technology or upgraded to technical support. Needless to say, these new developments provide an even more exciting and interactive experience.
Improved focus on skills and training
In light of changing customer expectations and increasing pressure to meet evolving requirements, hospitality companies are focusing on creating seamless customer-employee relationships. More and more companies are preferring professionals with greater flexibility, communication skills, leadership abilities, and cultural competency over those with academic knowledge.
As soft skills take precedence over hard skills in the post-pandemic era, companies are increasing their investment in targeted employee training programs, workshops, short courses, and one-day seminars. In addition to improving the quality of outcomes, these initiatives have also contributed to narrowing the skills gap, proving beneficial for employers relying on local talent in new markets.
This is a great opportunity for hospitality job seekers to take advantage of market trends and adapt to changing job demands by actively enrolling in industry-recognized courses in hotel and hospitality management. By participating in a short-term certification program, candidates and existing employees can learn the critical skills needed to excel in the industry, such as housekeeping operations, guest services, front office, and computer and technology applications. You can hone your skills.
The resurgence of the hospitality industry is undoubtedly remarkable, and the demand for its diverse segments shows no signs of slowing down. As the landscape continues to evolve, industry players face an urgent challenge to adapt, reinvent, and transform themselves to seamlessly integrate into the current environment. Companies that successfully navigate this evolution and transform to meet expectations will thrive in an ever-changing landscape.