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The role of emotion in travel purchasing decisions

The role of emotion in travel purchasing decisions | Resorts and Hotel Operations | Scoop.it

Travelling is inherently emotional. But how does emotion influence a purchasing decision, and how can travel companies factor this in to the buying process? The best way to analyse the emotional journey is by using a common emotional instrument such as Plutchik's Wheel of Emotions or the Geneva Wheel. Mapping out key emotions to funnel stages will allow you an insight into the traveller emotional journey. For each stage, there can be a unique emotion attached, which can segue into the next stage. Understanding the unique relations between these will help you in establishing better conversion strategies. Knowing the emotional journey of the client will not only help to optimise targeted customer communication but also tell you where persuasion can most effectively be applied. Find out more.


Via Tourism Australia
Amanda Loh Jia Min's insight:
Topic 2 : Challenges facing the hotel and resort industry 

Summary : The article talks about the emotional influence of travellers on their travel purchases. 

Discussion : I agree with the author that emotions do influence travellers' purchasing decision as tapping into specific emotions of travellers can help generate travel suppliers' desired outcomes. For example, a way to stimulate a deeper connection with a customer can be through the reward mechanism (Tnooz, 2017). When travellers make a purchase, it feels less taxing when it is equated with small bonuses or discounts like ancillaries or free travel guides. 

References : 

Tnooz. (2017). But how do you feel? The role of emotion in travel purchasing decisions Retrieved from https://www.tnooz.com/article/but-how-do-you-feel-the-role-of-emotion-in-travel-purchasing-decisions/
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3 ways for leaders to build a happier workplace

3 ways for leaders to build a happier workplace | Resorts and Hotel Operations | Scoop.it
Managers can help take the first step toward eliminating stigma around mental health and ensuring staff have the support they need.
Amanda Loh Jia Min's insight:
Topic 5: Human Resource challenges 

Summary: 

This article discusses about creating a happier work environment and consequently, building a more productive and healthier workforce. 

Discussion: 

One of the main challenges commonly faced by managers or executives is keeping employees motivated in their jobs. Unmotivated employees can be considered a hurdle in providing quality service (Enz, 2009). Therefore, I agree with the author that it is important for managers and executives alike to acknowledge employees' emotions and ensuring they have the support that they need. When a happy work culture is cultivated, retention of employees will be easier and efficiency in the workplace will increase (Alon, & Ferreira, 2008). 

References: 

Enz, C. A. (2009). Human Resource Management: A Troubling Issue for the Global Hotel Industry Cornell Hospitality Quarterly, 50(4), 578-583. Retrieved from: http://scholarship.sha.cornell.edu/cgi/viewcontent.cgi?article=1208&context=articles

Alon, I., & Ferreira, T. (2008). Human Resources Challenges and Opportunities in China: A Case from the Hospitality Industry. International Journal of Business and Emerging Markets, 1(2), 141-150. doi:http://dx.doi.org/10.1504/IJBEM.2008.020866
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Rescooped by Amanda Loh Jia Min from Hotel Marketing & Revenue Strategies
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Marriott CEO Says More Hotel Mega-Mergers Are Likely

Marriott CEO Says More Hotel Mega-Mergers Are Likely | Resorts and Hotel Operations | Scoop.it
Marriott International CEO Arne Sorenson concedes the company’s “hands are full” integrating Starwood, but he doesn’t believe the hotel chain is “done forever” in terms of mergers and acquisitions. “We’re not going to go out and try to create the opportunities at the moment,” Sorenson said. “If opportunities pop up, we’ll have to assess them.” In an …

Via Francesco Canzoniere
Amanda Loh Jia Min's insight:
Topic 1: Consolidation of the hotel industry worldwide 

Summary: 
Marriott International's recent integration with Starwood has made the hotel group the top player in the chasing pack in terms of the merger-frenzy situation. Since the announcement of the acquisition, the pace for consolidation of top hotel groups have been picking up. 

Discussion: I agree with the author that since the acquisition of Starwood by Marriott International, more industry players are following the hotel group's footsteps in terms of mergers and acquisitions. According to HTL (2015), InterContinental Hotel Group acquired Kimpton Hotels for US$ 430 million while AccorHotels is currently negotiating to take over Canada-based hotel group FRHI, which owns Fairmont, Raffless and Swisshotels. It is stated by the CEO of Marriott International that the main reason for M&A is to create a corporate synergy through rationalisation of corporate functions, eventually resulting in a higher level of efficiency (HTL, 2015). 

References: 
HTL, H. (2015). Consolidation within the hotel industry: Global vs. local perspective. Retrieved from Croatia http://29b8je4dgl4v2ndf9h4bmut9.wpengine.netdna-cdn.com/files/2015/12/Consolidation-Croatia-report-EN1.pdf ;
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Francesco Canzoniere's curator insight, March 16, 6:48 AM

Marriott International CEO Arne Sorenson thinks rivals see the merit of further dealmaking within the sector.

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What Executives Get Wrong About Cybersecurity

“If you don’t address the managerial, organizational, and strategic aspects of cybersecurity, you’re missing the most important parts.”

Via Don Dea
Amanda Loh Jia Min's insight:

Topic 9 : Safety concerns for destinations and hotels

 

Summary : MIT Sloan Management Review conducted an interview with cybersecurity expert Stuart E. Madnick to discuss the negligence of cyberattacks on critical infrastructures. 

 

Discussion : I agree with the interviewee on this issue and think that executives from all organisations should pay closer attention to past cyberattacks on critical infrastructures. Hotel managers should also be alerted on recent cyberattacks of hotels like the hacking of the operational software to retrieve personal information on the guests. As stated by Magelsdorf (2017), this will improve the organisation's disaster management to prevent or demagnify the impact of cyberattacks. 



References : 


Mangelsdorf, M. E. (2017). What Executives Get Wrong About Cybersecurity. Retrieved from http://sloanreview.mit.edu/article/what-executives-get-wrong-about-cybersecurity/

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Eight things smart hotel revenue managers do differently - Tnooz

Eight things smart hotel revenue managers do differently - Tnooz | Resorts and Hotel Operations | Scoop.it
Hotel revenue managers do differently - gathering new insights, past data isn't always helpful, value and its impact on pricing and more
Amanda Loh Jia Min's insight:
Topic 6: Yield Management 

Summary: 

The dynamic landscape of the hotel industry has made it difficult for hotels to have a competitive advantage as the product offered does not differ much across the industry. Therefore, it is important for a hotel to adopt smart revenue management practices. 

Discussion: 

I agree with the author that revenue management is entering a new age that includes predictive, big data driven strategies. According to Jin-zhao, Jing (2009), a revenue manager's job is to maximise the revenue per available room by selling rooms to the right customers, at the right price and time. Therefore, smart revenue managers are able to prepare themselves for this change by incorporating the practices stated above. With this, a hotel can outrun its competitors with the chosen combination of technology, agility and analysis. 


References: 

Jin-zhao, W., & Jing, W. (2009). Issues, challenges, and trends, that facing hospitality industry. Management Science and Engineering, 3(4), 53.
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Rescooped by Amanda Loh Jia Min from The Insight Files
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The role of emotion in travel purchasing decisions

The role of emotion in travel purchasing decisions | Resorts and Hotel Operations | Scoop.it

Travelling is inherently emotional. But how does emotion influence a purchasing decision, and how can travel companies factor this in to the buying process? The best way to analyse the emotional journey is by using a common emotional instrument such as Plutchik's Wheel of Emotions or the Geneva Wheel. Mapping out key emotions to funnel stages will allow you an insight into the traveller emotional journey. For each stage, there can be a unique emotion attached, which can segue into the next stage. Understanding the unique relations between these will help you in establishing better conversion strategies. Knowing the emotional journey of the client will not only help to optimise targeted customer communication but also tell you where persuasion can most effectively be applied. Find out more.


Via Tourism Australia
Amanda Loh Jia Min's insight:
Topic 2 : Challenges facing the hotel and resort industry 

Summary : The article talks about the emotional influence of travellers on their travel purchases. 

Discussion : I agree with the author that emotions do influence travellers' purchasing decision as tapping into specific emotions of travellers can help generate travel suppliers' desired outcomes. For example, a way to stimulate a deeper connection with a customer can be through the reward mechanism (Tnooz, 2017). When travellers make a purchase, it feels less taxing when it is equated with small bonuses or discounts like ancillaries or free travel guides. 

References : 

Tnooz. (2017). But how do you feel? The role of emotion in travel purchasing decisions Retrieved from https://www.tnooz.com/article/but-how-do-you-feel-the-role-of-emotion-in-travel-purchasing-decisions/
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Rescooped by Amanda Loh Jia Min from Africa : Commodity Bridgehead to Asia
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'Green' Africa: 10 Sustainable Hotels, Lodges And Other Buildings@Offshore stockbrokers

'Green' Africa: 10 Sustainable Hotels, Lodges And Other Buildings@Offshore stockbrokers | Resorts and Hotel Operations | Scoop.it
African developers are increasingly turning to eco-friendly building practices, which can be seen in hotels, safari lodges, and business parks

Via Comrade Moses
Amanda Loh Jia Min's insight:

Topic 8 : Environmental issues (greening hotels) 

 

Summary : African developers are adopting more environmentally sustainable building practices as it not only positively impact the environment, it also helps in reducing operating costs and gaining a good reputation.

 

 

Discussion : I think travellers are more willing to stay in an accommodation an eco-friendly concept as it positively impacts the environment. According to Lee, Hsu, Han, & Kim, (2010), 83% of English travellers would choose a hotel with a green award, and the American public will likely pay 6% more for green travel products and services. 


References : 


Lee, J.-S., Hsu, L.-T., Han, H., & Kim, Y. (2010). Understanding how consumers view green hotels: how a hotel's green image can influence behavioural intentions. Journal of Sustainable Tourism, 18(7), 901-914. doi:10.1080/09669581003777747

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Investors Europe Stock Brokers's curator insight, September 9, 2016 8:54 AM

"African developers are increasingly turning to eco-friendly building practices, which can be seen in hotels, safari lodges, and business parks around the continent"