EHL Insights
Behind the Scenes: How Luxury Hotels Take Care of Their Staff
EHL | November 27, 2023
“Staff shortages in the hospitality industry are a lurking issue that can drastically affect the quality of a business and the experiences guests receive. In an era of unparalleled challenges, luxury hotels are particularly hard hit. This article delves into how these premium institutions are prioritizing their staff’s well-being and professional growth to combat the current labor shortages. Welcome to the compelling universe of luxury hotel staff management!” Staff management challenges in luxury hospitality The hospitality sector has never been more competitive, particularly in the upper echelons where luxury hotels compete for disc...
Understanding Customer Captivity: When Clients Want to Leave but Can’t
EHL Insights | October 10, 2023
Have you ever wanted to switch service providers but felt like you had no choice? If this sounds familiar, you’ve experienced customer captivity. This feeling of captivity can significantly influence how customers perceive the quality of a service and voice their dissatisfaction. However, we know little about it. How does the feeling of captivity manifest? To what extent can it harm a service provider’s business? What coping strategies do captive customers adopt? And why does this often lead to negative word-of-mouth behavior? Furrer, Yu Kerguignas, and Landry’s (2021) study delves into these questions, providing invaluable in...
How Hoteliers Are Using AI for Revenue Management
Dr Cindy Heo | October 2, 2023
By Dr. Cindy Heo Hotel revenue management is the process of optimizing revenue by predicting demand and setting prices accordingly, most commonly found in hotels to forecast occupancy in order to maximize their room rate, hotel marketing strategy, and overall property performance. It's a complex and ever-evolving field for a revenue manager to navigate, with many channels and tools to keep up-to-date with. But it is a key function for any hotel that wants to remain competitive in today's marketplace to get a firm handle on in order to welcome more guests through their doors. Today, Artificial Intelligence is making the job of data analysis...
Ready for the Future? Five Leadership Trends Reshaping Hospitality
EHL | September 13, 2023
New technologies, employee well-being, CSR, and Diversity, Equity and Inclusion initiatives are all strong trends influencing the management of global hospitality businesses today. Adapting to the evolving landscape of the global hospitality industry To lead people and organizations successfully in the coming years, leaders need to have a clear understanding of these trends and how to implement them while considering the specific needs of their organizations and the context of their market. In this article, we’ll discuss the top five trends influencing global hospitality businesses, and their leadership, today. And we’ll offer some s...
Luxury Hospitality: Trends, Challenges, and Best Practices
EHL Insights | September 8, 2023
By Dr. Sowon Kim, Dr. Florent Girardin, Dr. Matthias Fuchs Luxury is the new black. Post the pandemic, the global luxury industry recorded sales of €1.15 trillion in 2021, and continued its growth in 2022 by 19%-21% (Bain & Company, 2023). Luxury hospitality, luxury cars, and personal luxury goods represent over 80% of the total market. In this article, we zoom into the world of luxury hospitality to examine the trends that shape this industry, the challenges that are associated with the trends, and the best practices that illustrate how firms are managing such challenges. The trend of personalized meaningful experiences The luxu...
Why Hospitality Is Important as a Skill and Not Only as an Industry
EHL Insights | August 31, 2023
Well on the way to recovery post-pandemic, the global hospitality industry continues to grow, change, and diversify every year. In fact, hospitality remains one of the world's fastest-growing employment sectors, and factors such as increasing disposable income, rising demand for more diverse travel and tourism activities, and the affordability of air travel contribute to this ongoing growth. According to the Hospitality Global Market Report, the travel and tourism industry saw a growth of 15.1% in 2022. One of the sectors with the best economic performance was the hotels. In 2022, hotels generated 595,500 million more in profits than in 2...
Hospitality Technology: Is It the Answer to Everything?
EHL Insights | August 22, 2023
By Matei Gheorghiu-Testa, Timo Kaiser, Sophia Schütte In May 2023, three BOSC 6 students enrolled in EHL Hospitality Business School, namely Matei Testa, Timo Kaiser, and Sophia Schütte, were given the opportunity to attend the Hospitality Industry Technology Exposition and Conference (HITEC) in Dubai as part of EHL's Educational Travel Program. In the following blog post, they reflect on their journey and share valuable insights about the event. EHL's Educational Travel Program brought us on a trip to the lively city of Dubai to attend the highly anticipated HITEC Conference. We took advantage of this excellent opportunity to immer...
6 Great Ways to Reduce Absenteeism and Turnover Rates in the Workplace
Dr. Bertrand Audrin | August 21, 2023
By Dr. Bertrand Audrin Absenteeism and high turnover rates are two of the most common difficulties that leaders are facing in today’s tricky employment market where employees are leaving their jobs more frequently and feeling less committed than ever before. While these phenomena are affecting all industries, the services industry is particularly hard hit. Challenges in the hospitality industry The hospitality industry experiences significant employee turnover and absenteeism, having historically had one of the highest turnover rates among private sectors, even prior to the pandemic. These factors pose a substantial financial burden ...
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