From new types of travellers versus the ‘multi-dimensional’ traveller, to independence versus personalisation, the success of the hospitality industry in the next decade will increasingly depend on understanding these new relationships and becoming better at facilitating and innovating around them.
This report analyses consumer trends to understand their impact on the changing face of hospitality. It brings together recent research on all aspects of travel and has combined them with insights from IHG and The Futures Company to, for the first time, comprehensively look at the different trends set to impact the next decade of travel. Its aim is to show that, when combined, these trends point to something bigger; they signal an emerging era for the hospitality industry globally – what The Futures Company calls the ‘kinship economy’. Future growth in this context will not only come from products and experiences, but also from creating meaningful relationships among people. The kinship economy will be the next stage on from the “experience economy” of the last decade2. This offers a clear role for hotels in facilitating these meaningful relationships and providing the environments for them to flourish.
The new kinship economy: From travel experiences to travel relationships
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
