EHL Insights
New Attitudes to Hotel Circular Economy Practices
EHL | September 15, 2022
Customer perception Anyone visiting hotels this past decade will have seen the message in the bathroom asking guests to help save resources by putting the towel on the floor only if a new towel is needed. Some clients may perceive this message positively as they will associate the hotel as an eco-friendly company. Some others may have a totally different perception and understand this message as a way for the hotel to reduce costs by cleaning less towels daily, to the detriment of guest comfort. Thus, depending on the client's perception, the impact on the hotel (brand perception, willingness to stay, willingness to pay, etc.) can be eithe...
Is an Aging Society a Threat or an Opportunity for Hospitality?
EHL | September 13, 2022
What does "population aging" mean? Population aging is the name for an ongoing demographic phenomenon, the fact that the average age of individuals in society increases over time. In other words, there are more and more old people in the population, and less and less young persons. The graph displayed in Figure 1 illustrates the phenomenon. It shows the old-age dependency ratio (OADR), defined here as the number of individuals aged 65 or more, over the number of individuals aged 20 to 64. Today, that ratio sits at 32% in the OECD, on average. As the graph shows, the population aging phenomenon has been rather mild in previous dec...
Hospitality Industry Statistics to Have on Your Radar in 2022
EHL Insights | August 18, 2022
The hospitality industry is a vast sector with many different categories that include recreation, lodging, entertainment, food and beverage. As a result, it is essential to collect all the relevant hospitality industry statistics to fine-tune your digital and social strategies to match the rapid changes currently impacting the sector. This is especially important for hospitality because it was one of the hardest-hit industries by COVID-19, and its challenges are still ongoing. Now that things are almost back to normal, the hospitality industry not only has to deal with changing consumer preferences and expectations but also deal with...
The Role of Unemployment Benefits in the Current Labor Shortage
Dr. Yong Chen | April 12, 2022
By Dr. Yong Chen An analysis of why and how Covid-related unemployment benefits may have impacted the current labor shortage. What role do loss aversion and behavioral economics play in how a worker considers losing benefits vs. gaining a job? Labor shortage despite available jobs As Covid-19 cases in the United States started subsiding in the first half of 2021, the economy did not recover as fast as had been expected. There have been widespread reports about labor shortages in the U.S. since last April. The reason for the rising unemployment though is anything but a lack of jobs. According to the U.S. Bure...
How Business Model Innovation Can Boost SMEs in Times of Crisis
Dr Margarita Cruz | March 29, 2022
By Dr. Margarita Cruz SMEs reacted to the Covid pandemic in different ways. Some decided to introduce innovative dimensions to previously existing business models in the hope for survival, whereas others preferred not to mess with the formula for fear of upsetting post-crisis brand identity. The research suggests that creating new business models based on external resources, collaborations and entrepreneurial thinking can result in a winning resource in crisis times. SMEs in crisis It’s been exactly two years since we first experienced the first wave of lockdowns in Switzerland due to the COVID-19 pandemic. Back the...
Business Opportunities: Is the Metaverse the Right Way to Go?
Dr Valentina Clergue | March 25, 2022
Maybe you are not involved in gaming and do not use virtual reality, and thus you think that the Metaverse is irrelevant for your business. Should you dismiss it completely? Maybe not. After all, most if not all of the major trends impact businesses sooner or later. It is already a necessity for companies to have a well thought digital strategy and to look for opportunities to maximize the business’s digital presence. The Metaverse could be one of these opportunities today. By Dr. Valentina Clergue Brand image: New opportunities The Metaverse is a virtual immersive environment where people can interact, play and buy...
What Is Servitization?
EHL Insights | March 14, 2022
What is servitization? Its origins go back to 1988, Sandra Vandermerwe and Juan Rada presented what they termed the “servitization of business”, explaining how more and more corporations were adding value to their core corporate offerings through services. – For some well-intended temporal perspective here, this was the year before Tim Berners-Lee invented the “World Wide Web” while working at CERN and a full eleven years before Kevin Ashton coined the term “Internet of Things” during his time at Procter & Gamble. – Vandermerwe and Rada observed that companies were offering “bundles of customer-focused combinations of ...
Inclusivity Is the Key to Gender Diversity: Open the Door Please!
Marloes Knippenberg | March 8, 2022
By Marloes Knippenberg Belonging to hospitality, the most service, people-oriented industry, you tend to be impacted by everything the world is undergoing at any given time – technological zeitgeists, global economic slowdowns, unexpected weather turbulence, in addition to the human quest for knowledge, disruptions, and innovations. Regardless of the environment, less represented groups on a leadership scale change the social engineering in decision-making. For decades, boardrooms have lacked women inclusivity, but now, industries have adopted and started promoting changes as more women sit at executive boards and rank high on global pro...
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