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Hospitality Market Research

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Hospitality Market Research

Market research is pivotal in the hospitality industry in many different scenarios, and the collection of customer feedback is one of the important ways that a research study can be used to good effect. Hospitality is all about the customer’s experience, and the easiest way to improve this, is to find out what they liked most, as well as what they did not like as much, often with the aid of an intercept interview. A concise intercept interview is best at eliciting the most concise and useful information from leaving guests due to its simplicity and the vast array of data that can be collected.
 
The hospitality industry also uses market research to identify a change in trends and market, allowing them to evolve yet stay ahead of their competitors. Gathering data from several years ago can help a new company understand change in the market and anticipate future trends.
 
Performing market research about what type of guests will be accommodated is also important. Setting up a hotel, for example, in a location that students predominantly visit, often requires relatively cheap accommodation. However, a hotel in a place such as Dubai would probably call for more expensive luxuries. 
 
Prospective customers decide on what hospitality services to use depending on a variety of different factors. Performing research studies can provide the data that shows which specific hospitality services to target, and which have less of an impact on the customer’s decision. For example, implementing new technology into a hotel may encourage more guests to stay than to increase facilities such as swimming pools.
 
To learn more about our services and experience in this area, click here: Hospitality Market Research.

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