Tim Rumney, chief executive, BWH Hotels GB, as featured in The Caterer. View the full article here.
''Despite all the economic shocks over the past couple of years, one of the most surprising things is how resilient the economy and the consumer have been to the onslaught of higher costs and lower discretionary spend.
I am reluctant to mention the C word but the Covid pandemic has certainly had an impact, with some consumers having built up a savings pot during lockdown and everyone keen to have fun following the enforced absence from people and places.
Hospitality spend has moved from a desirable to an essential item on the shopping list and events have also driven accommodation and catering spend. UKHospitality research backed this up at our annual conference, with visits to hospitality venues being described as “vital” for consumers. 40% of respondents plan to prioritise visits to premises for experiences. This is the number one priority, ahead of spending on clothing, home improvements and international holidays, so there is a reason for optimism, which is filtering through to our owners and operators.
Nearly three-quarters of our hotels when questioned at our annual conference said they were ‘moderately optimistic’ or ‘very optimistic’ about trading in the next 12 months and that their optimism was 48% higher than this time last year. A further 37% said their optimism levels were the same as last year, with only 15% saying they were ‘more pessimistic’. Not only that, but our hotels are looking to invest in their properties at higher levels than in recent years too, so we just need the continued support of the banks and the institutions to stick with hotels recovering post-pandemic.
To the Instagram and TikTok generation, experience and sharing is everything, so operators need to have that in mind when investing and it doesn’t need to cost the earth. Service and experience have always been hallmarks of a great stay, but the unexpected is also something I think we will see more of this year, too. Hotels, restaurants and bars are looking to differentiate in areas away from the traditional cost lines in profit and loss. A hotel with a popsicle hotline was an example given at our recent conference; a hotel with a choice of lift music; a hotel with a hidden beer tap in the cupboard that guests have to find – cookie-cutter just doesn’t cut it anymore.
The Kano Model [an analysis tool that measures customer needs] has always been part of our DNA by providing moments of unique and individual delight that stay in the memory longer than just the perfunctory must-haves in a hotel. The excitingly unexpected is a trend that unites demographics, and as hotels get braver I think it will be something that will create more reasons for even the cost-savvy traveller to book, stay and share.
Our conference theme was ‘Celebrating Change’ and now is the time to look forward with optimism but also innovation.''