2020 was a year none of us expected. It has been a challenging year of disruption and transition that has changed the business landscape forever. With 2021 just around the corner, we’re looking forward to what business trends the new year has to offer for resorts.

The promise of a COVID19 vaccine and lifting of lockdown means there’s light at the end of the tunnel. We now have hope that the hospitality sector can recover as vacation travel once again becomes possible.

Over recent months, Merlin Software, like many businesses, has had to evolve, move with the times and trends and adapt to new opportunities. 

But what can we expect from the new year? We take a look at what business trends influencers, specialists and writers* believe the next twelve months will bring.

1 We will continue to work from home

Under lockdown, resorts had to adapt quickly to a remote workforce with office staff working from home. After learning lessons, many are now rethinking their business model and processes. Are resort offices needed? Can team members work from home permanently? 

In 2021, resorts will need to reimagine their workspaces as well as provide proper support for people working from home. This includes having the right office equipment, the latest cloud-based software to make remote working more comfortable and mental health support so everyone can work from home comfortably.

2 Data as an Asset

Resorts that leverage data to better understand their customers, improve their decision-making and enhance the customer experience are outperforming everyone else. Cloud solutions like Merlin Software allow resorts to access data securely from anywhere. In 2021, resorts will need to boost their data literacy – mining, processing and analysing the data efficiently and effectively to glean decision-making insights

3 Business Model Innovation

In 2021, developers and resort managers need to reflect on what they’re offering customers and how they operate. The businesses that are currently thriving, even during a pandemic, are those that reacted quickly to the changes. 

For example, restaurants that pivoted to enable expanded take-out abilities altered their typical operations to ensure survival. Although businesses have always had to think about how the market is shifting and what transformations that means for business, it will be more critical in 2021 to innovate your business model.

4 Automation

Another business trend in 2021 will be automation. Resorts will need to evaluate their business processes to see where they can take people out of the process both for safety and when they aren’t adding any real value. 

There have already been quite a few shifts in this direction with remote check-in, chatbots that handle customer service inquiries and smartphone concierge apps. This trend will continue in next year as more services are given over to computers and smart robots and delivered through automated interfaces.

5 Decentralised Finance

As a result of the economic turmoil caused by the pandemic, capital markets continue to be nervous. This creates a challenge for businesses that want to raise capital to expand or start a new business.

One solution for raising money has been crowdfunding, blockchain technology, and other decentralised finance options. This will be one of the biggest business trends in 2021 that will allow resorts to acquire capital easier than through traditional channels. 

6 Virtual Interfaces 

Resorts have had to find ways to reassure owners and guests that it’s safe to return. Many are considering how to deliver services in digital forms using technology such as augmented or virtual reality. This “try before you buy” with virtual interfaces will transform how businesses offer their services.

7 Going from Global to Local

With COVID19 disrupting supply chains, many resort businesses have had to think more locally than globally. In 2021, these business trends are set to continue with Brexit and international political tensions. More localised manufacturing and selling are also appealing for environmental awareness.

8 Purposeful and Meaningful Jobs

There’s a trend to have more purpose and meaning in our jobs. Younger generations that are entering the workforce want to connect with a purpose or work for a company that has real meaning. Companies that don’t have a clear or meaningful sense will struggle to attract talent and customers.

9 Sustainability

Like many sectors, hospitality has realised that as disruptive as the coronavirus was to business, an environmental crisis could be much more damaging. In 2021, resorts will rethink operations and their environmental impact. 

10 Social Engagement

This year, brands have engaged with their owners and guests across social media. In 2021, there will be a big push toward a more authentic presence on social media and one that’s less curated by social media experts, such as real behind-the-scenes looks at a company.

Along with this will be engaging influencers and micro-influencers in your industry—those key people who are driving conversations and engage with your customers.

11 Integrity-Fuelled Leadership

In the past, business leaders have been able to hide behind their corporations. However, this is changing, and the future of business is about transparency. Business leaders need to share who they are and lead in the public eye with authenticity, honesty and integrity.

Consumers no longer wish to buy from companies whose values are in direct opposition to theirs. Instead, consumers admire leaders with integrity, who don’t elevate profits and dividends over employee and customer satisfaction and leaders who don’t mislead for the sake of reputation and metrics.

Customers are four times more likely to buy from and recommend a business that has a robust and identifiable purpose, according to “The 2020 Zeno Strength of Purpose” study. A business’s purpose includes its core values, business practices, customer service philosophy, and support for social causes. 

12 It’s all about Relationships and Conversations 

Resorts that prioritise relationship-building and conversations will thrive in 2021. Consumers want to be seen, heard and understood. They are tired of unsolicited sales pitches and cold calling. While it’s common practice to send the same message to every customer, it is impossible to see, hear and understand them with this approach.

It takes time to listen, but it creates scalable results. Embracing this approach in 2021 will lead resorts to deeper relationships, increased brand loyalty, a higher instance of referrals and more return customers.

13 Employee Wellness 

Employee health and wellness will be a top priority for businesses in 2021 and beyond. Remote working has its benefits but also its disadvantages – and furloughed workers are also affected. Prolonged periods without social interaction can impact mental health. 

In 2021, resorts will find ways to better engage with employees and letting them know they matter. To have productive employees, businesses must have happy and healthy employees. There will be more discussion around physical and mental well-being in workspaces. Companies will look to address these issues and streamline remote working to set clear boundaries between work and life. 

2021 is the beginning of a new wave of business trends that involve a personal touch, stronger connections and a deliberate move away from the spam pitches and cold calling of the past. 

How will you embrace these business trends at your resort during 2021 and beyond?

To find out more about Merlin Software and how our services can assist you in 2021, then email Mark Thomas markt@quickmerlin.com.

*Sources

Bernard Marr – Forbes

Bri Seeley – Forbes

Paige Smith –  Fundbox