Skip to main content

CHRS 2017: Opportunities in the era of disruption


I was in Ithaca, New York, last week for the 2017 Cornell Hospitality Research Summit(#CHRS2017), where a good mix of industry professionals and academic researchers shared their viewpoints on the outlooks of the hospitality business and findings of relevant research.
This year, the conference's theme was "opportunities in the era of disruption."

So, what are the disruptions?

In fact, the hospitality industry is constantly facing challenges from disruptions. In today's economy, the following appears to be more salient:

Remain positive when facing the disruptions

Shall we worry about the future because of these disruptions? We could, but feeling worrisome would not help business. Positive thinking is perhaps the only remedy to deal with challenges.
"Disruptions create opportunities," suggested Arthur Adler, the managing director and chairman of the Americas division of Jones Lang LaSalle's (JLL) Hotels and Hospitality Group, in the keynote opening session at #CHRS2017.
By reviewing the history of how the hotel business has evolved over time, Adler concluded that disruptions brought innovations to the industry (e.g., making reservations on the phone vs. on the internet). Rather than feeling worried about the future, we should all react to the new opportunities identified in the era of disruption.

New opportunities in the era of disruption

All attendees in the conference seemed to hold positive attitudes toward the disruptions. Particularly, the industry is highly encouraged to look at the following areas:
  • Rethink guest experience and be innovative in product offerings.
  • Utilize space more efficiently. For example, can a hotel's lobby or meeting space be "shared" as what is in the room-sharing and ride-sharing business?
  • How can technology be used in providing customized service? For example, use AI and machine learning to predict guest preference.
  • How can technology be better utilized in daily operations (e.g., making improvements in revenue management and productivity among staff members)?
  • What can we learn from the room-sharing business?
  • How can blockchain technology be used in the hospitality industry?
  • What proactive approaches can be taken in sustainability? A good example in case is that the Romantik Hotel Muottas Muragl is running a lodging business in a "plus energy building," meaning a building is so energy-efficient that it generates more energy than it consumes.
Do you agree that opportunities are often associated with risks, or disruptions in this case? What opportunities do you see in the era of disruption?
Note: This post is also available on MultiBrief.com; The picture was downloaded from the Twitter account of The Hotel School at Cornell University. 

Comments

Popular posts from this blog

Luxury vs. Millennials and Their Technology: The Ritz-Carlton (By Julia Shorr)

Embodying the finest luxury experience, The Ritz-Carlton Hotel Company, LLC has been established since 1983. In 1998, Marriott International purchased the brand offering it more opportunity for growth while being independently owned and operated. They are known for their enhanced service level as the motto states, “Ladies and Gentlemen serving Ladies and Gentlemen”. The luxury brand now carries 97 hotels and resorts internationally and is attempting to keep the aspects of luxury while keeping up with the trends of the technologically improving generations. The Varying Demographics of the Target Market The Ritz-Carlton’s typical target market includes: business executives, corporate, leisure travelers, typically middle-aged persons and elders, and families from the upper and upper-middle class section of society .   This infers a large range of types of travelers in which all are similar in that they are not opposed to spending extra for the luxurious ambiance. However, with

The challenges of SB 93 (California Senate Bill No. 93) will impose on the employers and their human resource management team (by Brittany Schaffer)

The COVID-19 pandemic started in early 2020, and it has caused massive changes within a short period of time. One of the most rememberable effects of the COVID-19 pandemic was that businesses had to come to a complete halt, forcing them to lay off employees. California's unemployment rates went up.  Now that the stay-at-home orders have lifted, people start to come out. Businesses are now reopening, looking to rehire their laid-off employees. Before the pandemic, employers had the option of recalling only a certain number of laid-off employees they would want to rehire based on employees' job performance. That option had been changed after Governor Gavin Newsome signed into law - Senate Bill 93, which went into effect on April 16th, 2021. The California Senate Bill No. 93 (SB 93) According to SB 93, companies in specific industries, mainly the hospitality industry, have the obligation to provide job opportunities in written form to qualified employees being laid off due to COVI

The complicated situation of tattoos in the workplace (by Harry Law)

Tattoos are a form of expression that convey the individuality of their owners. They can represent a multitude of things, like a tie to a family member, a favorite quote with a special meaning, or even a favorite cartoon character. Tattoos also can carry great cultural and/or religious significance. Every tattoo is unique and says something about the individual person who wears it. The problem that many companies face is when a tattoo is considered appropriate and when it should be covered.  Employees are after all the faces of a company, so the tattoos on their bodies are connected to and represent that company as well. Some workplaces have instituted rules and regulations when it comes to their employees’ tattoos, but there can be negative consequences when a company goes too far in telling their employees what they can and cannot do with their own bodies. The Disney Company has recently changed its policy on tattoos. Disney’s goal is to create a magical, fantasy experience for their