As we enter the final stretch before the end of a very special year, 2020, many are announcing a world of tomorrow, a hotel of tomorrow, a tourism of tomorrow... The pandemic is bringing new life to our professions, and we will not have enough on both hands to build this new world.
Personally, I think that the world of tomorrow was already there yesterday. Discreet, but very present. Certainly, less perceptible than it will be tomorrow, but many weak signals were already clearly apparent. It has been said repeatedly, our customers want more experience, they give more meaning to the consumption of goods and services related to the hospitality sector, are looking for local flavors and sincere empathy. At all levels, we must move from the convenience of service to the insatiable quest of customer experience.
We have seen it with brands across all sectors. It is no longer enough to advocate a commitment to sustainable development or to be a responsible company: we must now embody it with significantly more authenticity and sincerity than five years ago. The time for "greenwashing" or "corporate bullshit" is over. Whether one agrees with it or not, in this age of online customer reviews, "name & shame" gives every citizen the power to publicly denounce, at least on social networks, the practices they find socially unacceptable. In this way, reputation goes beyond the service or product provided. Measuring one's reputation is good, managing it is better. Quality is the result of a process, that which corresponds to the production of the service (servuction).
It is not just a question of seducing customers, but also its own employees. For those to whom we are trying to give meaning, to whom we want to involve in the company's project. Just like customers, they observe, scrutinize, and judge opportunistic marketing approaches as opposed to those that profoundly transform the DNA of companies.
Clients, employees, the list goes on: these considerations concern investors for financing, city councils for setting up projects, etc.
Can we really talk about an evolution in the DNA of our products and services within our hospitality sector I would rather say a return to the age-old values of our profession. After 30 years of industrialization and standardization of concepts, for the past decade certain products have catalyzed the new expectations of our contemporaries and shown the way.
Beyond the change in customer expectations, investment models are also evolving. If water evaporates under the sun, this does not seem to be the case for financial liquidity under the Coronavirus spotlight, at least for the time being. They are patiently waiting for clearer skies and will be one of the players in the restructuring of the market, but not the only one. The classic arrangement between OPCO for operations and PROPCO for the walls will incorporate lessons from this Coronavirus crisis. We can predict the integration of the value of the walls + funds, and thus a more frequent recourse to managers from traditional hotel operators or third party management.
Operating property, which creates value on an asset through its management, will undoubtedly remain attractive in the coming decades. Its revamped model is still very young, and it will not be long until it comes of age.
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