TRENDS | H.O.T. PROJECT LENSES
01 Aging Population: This group represents a disproportionately high percentage of the US population. As more than 77 million baby boomers approach retirement, a growing number are simply not content to sit on a bench.
"These people are more active. They are healthier. They may consider retirement to be a mid-life event," said Tom Wetzel of Retirementliving.com.
Cities are becoming increasingly popular retirement destinations, as they offer access to culture, sports, and the possibility of maintaining an active lifestyle.
Mixed use developments with hotels and residences are becoming an increasingly popular destination for affluent and active members of this group.
02 Environmentalists: Environmentalists, or the neo-greens consider their solar panels on their roof and a hybrid in the driveway "symbols of identity."
Now, the cost/benefit equation for solar power has shifted due to economies of scale and the high fuel costs. Hybrids will likely follow the same development curve.
As respected and passionate figured such as Al Gore appear on the cover of Wired and Vanity Fair magazines advocating the benefits of sustainability and the threat of global warming, this cause is bound to gain a stronger following.
03 Escapists/The Leisure Guest: Escapists will continue to be key users of hotels and resorts. Hotels are, by their nature, an escape from home and (for most) work. The popularity of extending a work trip into a leisure trip is a trend likely to continue.
Top 5 motivations for leisure travel:
Rest and Relaxation | 87% |
Spend time with spouse | 81% |
Experience new places | 80% |
Experience new cultures | 53% |
Experience and adventure | 52% |
Source: YPB&R Portrait of Affluent Travelers
04 Wellness seekers: Heath and Wellness seekers are looking for a restorative experience in hotels. For some, it is total wellness, stress relief, fitness and nutritional programs. These services and amenities are already being offered in many hotels and resorts at varying degrees of implementation.
As technology for monitoring wellness advances, many believe that treatments may become self-care and the location of the evaluation and implementation of care will become decentralized from the hospitals and clinics. This may lead to a blending of hospitality and healthcare
05 Corporate/The Business Traveler: As men and women travel the world on behalf of their companies in search of new business, their hotels will continue to be their remote office as well as their destination for rest.
How might the needs of the business traveler change if video conferencing, voice recognition interface, language translation software and other advantages in technology are implemented at home, work and hotels.
06 Generation Y (today's teenagers): This is a highly influential group in buying decisions and on our future. They are big consumers in their own right and they certainly are influencing their parents. Who do the parents ask about emerging technology trends, their peers or their children?
In general, this is a group that is determined, self-motivated, and both socially and globally responsible. They have grown up with an accelerating rate of technological change and are comfortable there. This is a Tivo, iPod, hybrid, Playstation generation.