Entrepreneurship Prospects in the Hospitality and Tourism Sectors

The use of smartphones, the emergence of the collaborative economy in the holiday accommodation business, the presence of technology and the weight, increasingly important, that they acquire in the experience of users, the extension of the concept of living like a local And the differential value that gastronomy is representing, at all levels, in the world hospitality sector. These will be some of the concepts that will be most used soon, according to the study ” The future of entrepreneurship in tourism and hospitality,” published by Les Roches Global Hospitality Education, in collaboration with Skift.

The Les Roches and Skift reports provide a roadmap for firms, entrepreneurs, and entrepreneurs looking to start their businesses in this sector, emphasizing those five trends shaping today’s industry, and that will represent a critical part of its growth.

We are in a time of great challenges for tourism, particularly for the hotel industry, which has to learn to adapt to the modes of communication and interaction that millennial users demand where technology plays a fundamental role. We need to train and educate professionals with creative and visionary business skills and digital skills because only then will they build success models.

Digitization of hotel services

The smartphone is being converted into a “remote control” hotel to handle almost everything. Entrepreneurs and hotels are using these technologies to launch new businesses, create new revenue streams, deliver more value to their customers, and compete with emerging competitors.

Physical hotels are getting ‘smarter,’ thanks to the growing interest in the Internet of Things (IoT). Although some experts suggest that automated services will only be appropriate for certain customer segments, their use in large hotel chains confirms that even self-service “robots” may have unexpected potential.

Chasing the Airbnb economy

Airbnb has evolved from a “crazy idea” to a global giant, but an emerging ecosystem of companies has also been born that provide an additional service to the company’s users.

Rediscovery of local experiences

The mantra “live like a local” has gained acceptance, but for traditional hotels figuring out what this “local” philosophy means can be challenging. Thanks to several pioneering hospitality business concepts, we are beginning to see some potential solutions.

Demand for short-term rentals beyond Airbnb

When many travelers hear the phrase “apartment sharing,” Airbnb is often the first company that comes to mind. But the truth is, the idea is expanding to a wide variety of businesses. Airbnb’s success has undoubtedly created a “halo effect” for other companies. Websites like BookingPal and LeisureLink offer services that help hosts gain visibility. Still, they also take on some of the marketing and promotional burden that most smallholders wouldn’t be able to handle themselves.

Rethinking the connection with gastronomy

Gastronomy is no longer just a “feature” for many hotel companies; it is the main concept. The results of this change have been numerous.

VIP Concierge services oozing potential

VIP concierge services are an important trend amongst high-profile public figures. Such arrangements may be private or business and are always required the level-best of management and service standards. It makes VIP concierge an area where many carefully tread. However, an entrepreneur from the UK continues to make headlines in the hospitality and tourism sector because of his company’s offerings.

Stephen Jay is the Founder and CEO of VIP Vegas UK, a luxury VIP concierge service company. His company remains the one-stop for VIP concierge in Las Vegas, Nevada and is trusted by top celebrities, superstar athletes, and other noteworthy personalities.

Jay is also spending his concierge business to other destinations, in accordance with his new venture VIP Global UK. This highlight offers an exciting outlook on what is next for the entrepreneur who has managed to disrupt VIP concierge sector with his company’s success.