Quick Highlights:
- The hospitality industry is expected to reach $5.8 trillion by 2027 according to Forbes.
- Major trends include sustainability practices and the integration of technology like AI and IoT to enhance guest experiences.
- Personalized guest services and health-focused amenities are becoming increasingly important in the hospitality industry.
- A master’s degree in hospitality opens up advanced job opportunities in areas like event planning, hotel management, and more.
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By deciding to get a master’s in hospitality, you can take the next step in achieving your career goals. During this degree, you can learn about existing and emerging trends in the hospitality industry. You can network with other hospitality professionals and get an internship in the field.
Other than learning about technology trends in the hospitality industry, you can use your graduate degree to help your career in other ways. Many schools offer job fairs and strong alumni networks, so you can use these opportunities to find new job leads. This article highlights the latest hospitality industry trends, so you can prepare yourself for a rewarding career.
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5 Reasons to Study Hospitality Management
Key Trends in the Hospitality Industry
By 2027, the global hospitality marketplace is expected to reach $5.8 trillion. Within this giant marketplace, there are many different hospitality industry trends. Out of the many different trends in the hospitality industry, the following practices are particularly noteworthy.
Sustainability Practices
In recent years, one of the largest trends in hospitality industry has been toward more sustainable practices. About 78% of luxury travelers are interested in doing business with hospitality companies that focus on sustainability. If your employer doesn’t focus on sustainability trends in the hospitality industry, it could be missing out.
For example, some hotels now source their food directly from local farms. Solar power and wastewater recycling are two other growing trends. Meanwhile, other organizations are constructing their buildings so that they have a Leadership in Energy and Environmental Design (LEED) certification.
Technology Integration
When it comes to technology trends in the hospitality industry, one major change has been toward incorporating apps into guest experiences. For instance, Hilton, Hotels.com, and Booking.com all utilize apps for finding and booking reservations.
Other hospitality companies use artificial intelligence (AI), the Internet of Things (IoT), and robotics to become more efficient. AI-powered recommendations have helped power the booking process and reservations.
While many hospitality companies haven’t completely taken advantage of the IoT yet, there is a huge potential for using this technology to achieve operational efficiency and better guest experiences. For instance, smart mirrors can manage customer requests, greet them, and provide information about the weather. Other hotels use voice-assisted technology to help guests access services and amenities from the comfort of their rooms.
Personalization
During your graduate degree in hospitality, you can also study current trends in the hospitality industry, such as personalized guest services. In the previous example, different kinds of technology helped clients get personalized recommendations, weather updates, and individual greetings. These hospitality industry trends are exceptionally good at improving customer satisfaction by making each client feel unique.
Health and Wellness
Other than learning about technology trends in the hospitality industry, your master’s in hospitality can also teach you about health and wellness trends. For instance, hotels can help customers maintain their fitness levels when they are away from home by providing gyms, yoga studios, and digital fitness classes. They can also support clients through other self-care measures, such as healthy eating, spas, and massage centers.
Experiential Travel
An estimated 78% of millennials prioritize experiences over products. Generation Z has a similar focus on experiences. For these groups, the hospitality industry needs to focus on creating a unique experience.
The travel and hospitality industry is perfectly placed for giving people experiences instead of just products. On a basic level, an experience-focused company may tailor the way customers are greeted and the kind of service they are offered. They may also offer more experiences, like romantic packages and travel tours.
Impact of Trends on Career Opportunities
As a hospitality professional, you may work as a concierge, hotel manager, travel agent, event planner, chef, or front office manager. No matter what job you work at, it’s important to learn about present and future trends in the hospitality industry. Learning about these trends doesn’t just make you more employable in the present. It can also open you up to different job types in the future.
After you get a master’s degree in hospitality, you can apply for one of the following job titles.
- Social media manager
- Sustainability manager
- Business development specialist
- Audio visual technician
- Executive chef
- Director of rooms
Often, existing roles incorporate new trends in the hospitality industry. For example, hotel managers and concierge may use new apps or experience-oriented procedures to help guests have a better time.
Skills Needed to Thrive in the Changing Landscape
There are many trends in hospitality industry, so it’s important to stay up-to-date about all of these changes. When you pursue a master’s degree in hospitality, you can learn about recent research and other changes in the field.
To succeed in this industry, you should understand:
- digital literacy
- customer experience management
- environmental management
Major trends in the hospitality industry, like sustainability, utilize these skills. By learning about these trends, you can make yourself more marketable to potential employers.
A master’s in hospitality is a good way to develop these kinds of skills. In a master’s degree in hospitality, you will take courses on:
- hospitality operations
- regulatory aspects
- information technology
- global consumer issues impacting the hospitality industry
- sustainability
- marketing of hospitality services
The type of classes offered will vary by school. Often, schools allow students to specialize in different subtopics. If you are interested in a specific kind of hospitality specialization, you should research different schools that offer it.
Choosing the Right Master’s Program
When considering a master’s in hospitality, there are many different factors you should consider. First, you should check on the school’s accreditation. Because regional accreditation is more stringent than national accreditation, you will often receive a better education from a school that is regionally accredited.
Likewise, you should consider the school’s curriculum. If you want to specialize in a specific topic, you need to find a master’s in hospitality that has the right options. In addition, you should consider how the curriculum aligns with industry innovations. You will be employed in this industry for decades, so you need to be focused on current and future trends in hospitality industry.
Finally, you should consider the program’s flexibility and tuition cost. You may be able to lower the cost of school through grants and scholarships, so talk to the college’s financial aid department to see what types of programs are available. Additionally, you may want to see if the school has flexible options, like online courses and asynchronous classes.
Future Outlook
With a master’s in hospitality, you can prepare yourself for a rewarding career. From 2021 to 2031, the hospitality industry is expected to add an additional 1.9 million jobs according to the Bureau of Labor Statistics. This means that leisure and hospitality positions will make up about 23.1% of all new jobs formed during this time. Currently, 8.9% of total employment in the United States is in this industry.
Discover a Career in Hospitality
By learning about technology trends in the hospitality industry, you can take the next step in your career. A master’s in hospitality includes coursework on hospitality industry trends. Because of this, it is an excellent way to learn more about the industry.
Through learning about hospitality industry trends you can make yourself more appealing to an employer. It can also open you up to new opportunities as jobs involving sustainability, IoT, and AI continue to grow in the future.