A byword for hospitality, Oberoi brought global fame to Indian hotel industry
When Oberoi Group Chairman Emeritus Prithvi Raj Singh (PRS) Oberoi passed away on the morning of November 14 at the age of 94, he left behind an inspirational legacy of perfection in the hospitality industry. The Mahindra Group chairperson talked about how the hospitality industry veteran made ‘Oberoi’ a byword for the Indian luxury hospitality experience. His impeccable credentials and dexterity made ‘Oberoi’ a global byword to the extent that he propelled an Indian hotel to the very top of global rankings. Derived from the Latin word “hospes”, meaning host, hospitality has its roots in ancient history. The ancient Greeks used the word "xenia" to define the sacred rule of hospitality: the generosity and courtesy shown to those who are far away from their respective homes or associates of the person bestowing guest-friendship. A generational shift towards how travellers are consuming hospitality services is making hotels evolve from being mere suppliers of accommodation to experience providers, leading to a need for outstanding customer relationships across all stages of their customer booking journeys. As an industry that depends on a stable environment in order to successfully operate - societal and environmental changes are having a greater impact on hospitality businesses compared to other industries.
A recent PwC global survey of CEOs revealed that heads of hospitality and leisure companies are less confident about their companies’ prospects for revenue growth in the near future than their counterparts from other sectors. With disruptors in the industry, a wave of consolidation and many external factors impacting their operations, hotel operators must find new ways to overcome the hurdles. Solutions to future challenges that companies are currently coming up with stem from new-age thinking by business leaders and CEOs. In a crowded field of competitors, hotels must find ways to distinguish themselves and position their property as distinctive destinations in order nurture preferences and client loyalty. Towards this, hotels must offer more highly personalized experiences that go beyond the needs of their target customers, and count on word of mouth promotion, to both retain the customer base and also attract new customers. The struggle to attract, convert and retain customers is ever prevalent in the hospitality industry. Personalization of services is the latest and most effective development to transform the hospitality sector.
With the diversity of the hospitality industry, the personalization of services was not possible until recently. Capturing and using guest data for more relevant engagement is understandably a complicated task. But once done, hotels realize that it was worth the effort. Guest data can be used to provide customers a personalized experience. It helps one to anticipate their needs, send them relevant and related offers and customize their stay in your property. Coming in handy for this will be the data analytics software that is available today. This can be done by tracking and analyzing customer behavior and trends across multiple hotel properties. AI technology can also help you develop targeted and relevant sales and marketing materials differentiated for specific individuals or groups.
Studies reveal that customer experience can soon overtake price and product as a key brand differentiator. It is hence necessary for hotels and other related businesses in the hospitality sector to deliver satisfactory services.
