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Feedback for Macroeconomics Prelim Analysis

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Feedback for Macroeconomics Prelim Analysis

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Hello Team,

Thanks for sharing your prelim analysis with me. You’ll find below, feedback from me for your second stage work. Please note that the grow areas are specific to what I read on your padlet wall. It doesn’t mean these are all you need to do, to deepen your analysis for stage 3 presentation. I’m sure you’ll find more concepts or new info to deepen your analysis along the way. So feel free to expand your analysis. It also doesn’t mean that you have to address all that I’ve mentioned below. As a team, discuss and come to a consensus.

Just to be clear, there is no need to amend your prelim analysis on padlet. My feedback are meant for you to consider when you work on deepening your analysis in stage 3 (Presentation and the slides)

Glows:
I like that Team included only included the stats that you would like to analyse/support your analysis instead of including overwhelming amount of data especially when the MRSD report provided lots of it. Good work in making reference to relevant articles from recognised sources.

Grow areas:
Room for growth in terms of applying more economic concepts to your analysis.

Specific comments:
GDP
Good point about the impact of fall in tourist receipts on GDP.  Please build on it for more complete analysis (Economy comprised of more than 1 sector). Team could start the segment by identifying the key sectors in the economy, a few key reasons accounting for the change in real GDP (could use GDP expenditure formula) before examining the hospitality sector.

Good findings on how the hospitality sector tries to evolve to survive in the new normal and yes please find out more.

Labour market
Good work in identifying the type of unemployment (i.e. frictional) Q. Based on your findings, is this the most prevalent type of unemployment in SG right now?

Policies are relevant

Inflation
I think we can lump them together  - Tourism and Hospitality industry.

Just a note, since inflation is described as the overall increase in prices of the basket of goods and services and not just a single price increase of an item, it would be good to first take a look at what are the key price changes if items in the economy as a whole before looking at pricing of hotel accommodation.

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Government measures

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In his 2021 Budget Statement, Deputy Prime Minister and Minister for Finance Heng Swee Keat announced various support measures to help workers emerge stronger from the pandemic.

While 2020's Budgets were targeted at broad-based emergency support, this year's Budget will focus on accelerating structural adaptations, to equip our businesses and workers with deep and future-ready capabilities.

Over the next three years, the Government will allocate $24 billion to enable our firms and workers to emerge stronger. This effort builds on the momentum of the transformation push started five years ago, when the Industry Transformation Maps were launched.
JOBS SUPPORT SCHEME
The Jobs Support Scheme (JSS) was launched in 2020 to protect jobs and help firms retain local workers. The Government has committed over $25 billion to the JSS, and supported over 150,000 employers for up to 17 months. The current tranche will continue to cover wages up to March 2021 for most sectors.

Here's how the JSS will be extended:

Firms in Tier 1 sectors (Aviation, Aerospace, Tourism):

30% support for wages paid from April to June 2021

10% support for wages paid from July to September 2021

Firms in Tier 2 sectors (e.g. Retail, Arts and Culture, Food Services, Built Environment):
10% support for wages paid from April to June 2021
Other sectors:
Continued support up to March 2021, as previously announced

SGUNITED JOBS AND SKILLS PACKAGE
The SGUnited Jobs and Skills Package was launched in 2020, to tackle the anticipated labour market fallout from COVID-19. As of end-2020, nearly 76,000 individuals have been placed into jobs, traineeships, attachments, and skills training. Under the Jobs Growth Incentive (JGI), an estimated 110,000 local jobseekers were collectively hired within two months from the implementation of the scheme.

Here's how the SGUnited Jobs and Skills Package will be extended:

Additional $5.4 billion for a second tranche of SGUnited Jobs and Skills Package

On top of $3 billion already allocated in 2020

$5.2 billion to extend JGI hiring window to September 2021

Support for SGUnited Skills, SGUnited Traineeships, SGUnited Mid-Career Pathways Programmes will be extended

The next phase of the SGUnited Jobs and Skills Package will support the hiring of 200,000 locals this year, and provide up to 35,000 traineeship and training opportunities.
ENHANCING SALARIES OF HEALTHCARE WORKERS
Beyond the pandemic, the healthcare sector is set to grow, as our people age. This sector provides many good skilled jobs that are noble, meaningful, and make a difference to Singaporeans.

The Government will enhance the salaries of our nurses and other healthcare workers, such as support care staff. This will apply to workers across public healthcare institutions, and publicly-funded community hospitals and long-term care service providers.
STRENGTHENING OUR LOCAL WORKFORCE
While some Singaporeans are concerned about our reliance on foreign manpower, many businesses and trade associations have found it difficult to hire locals.

The Government will continue to support the employment of Singaporeans, while we deepen our capabilities and promote capability transfer and moderate our reliance on foreign labour:

Extend Wage Credit Scheme to support wage increments for companies to retain and attract locals

Extended for a year, at a co-funding level of 15%

Extend Capability Transfer Programme to support foreign-to-local skills transfer

Extended up to end-September 2024

As of end-2020, more than 140 companies and over 970 locals have benefitted, or expected to benefit from 40 projects

Reduce Manufacturing S Pass Sub-Dependency Ratio Ceiling (Sub-DRC) to develop deep skills in local workforce, and reduce reliance on foreign labour

Reduced to 18% from 1 January 2022

Reduced to 15% from 1 January 2023

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In his 2021 Budget Statement, Deputy Prime Minister and Minister for Finance Heng Swee Keat announced various support measures to help workers emerge stronger from the pandemic. While 2020's Budgets were targeted at broad-based emergency support, this year's Budget will focus on accelerating structural adaptations, to equip our businesses and workers with deep and future-ready capabilities.

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Happy to know that like minded youths are in the same group! Glad you took the reflection seriously and thought of constructive ways to make stage 2 discussion even better. Found gems in your reflection too! Pls see specific comments appended beneath your thoughts.

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Nice findings that could well go into the industry overview

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An interesting share indeed! Thank you!

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Yes! Clan hotel should one example to be covered in Team's analysis. How does such addition impact the supply? Is Clan hotel the only new hotel?

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Keep your interesting fact in mind as you move on to stage 2 Macroeconomic analysis on labour market situation

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Hello Team,
Thanks for sharing your prelim analysis with me. You’ll find below, feedback from me for your first stage work. Please note that the grow areas are specific to what I read on your padlet wall. It doesn’t mean these are all you need to do, to deepen your analysis for stage 3 presentation. I’m sure you’ll find more concepts or new info to deepen your analysis along the way. So feel free to expand your analysis. It also doesn’t mean that you have to address all that I’ve mentioned below.

As a team, discuss and come to a consensus.

Just to be clear, there is no need to amend your prelim analysis on padlet. My feedback are meant for you to consider when you work on deepening your analysis in stage 3 (Presentation and the slides)

Glow areas:
1. All key sources are well recognised and relevant to the chosen industry and in Singapore’s context.

2. Team did a pretty good job in identifying relevant data and info to support prelim analysis for most parts. Data are not excessively adapted without a purpose.

Grow areas:
1. Market Structure Many sellers – To strengthen Team’s selection of monopolistic market structure, do cite evidence where there are no dominant players amongst the various hotels in SG, which make it Oligopoly instead. I found an evidence in one of your key sources.

Product differentiation
Right approach, looking forward to reading a deeper version of the analysis with more real world support in your final presentation
Easy entry and exit
What makes it easy to enter? What are the requirements for entry? Think about it.

Good amount of info
Nice

2. Taste and Preferences
It seems to me that Team is saying that there’s a preference for efficiency in hotel-related matters and technology is just a tool to help improve the experience? If so, Team could also include other efforts by Hotels to work on such expectations. Remember to cite support for such increased in preference for swiftness in service.

3. Expectations
I get it that this could be quite confusing in the sense that we usually refer to expectations of buyers as what we expect in terms of pricing and quality of our purchase.

In economics, expectations of buyers refers to their changes to purchase in anticipation of price changes or availability of a product. E.g. Expectation of price of hotel rooms to go up in the near future, they’ll secure a booking right now. Would this part be more appropriately classified as another demand determinant? Now that consumers PREFERS safe and hygienic environment to stay in? And how did Singapore fare in this aspect in the eyes of travelers?

4. Supply
Nothing about the Clan Hotel?

5. Technology
Good point in wanting to find out more for report writing

6. Price elasticity of demand
Team might want to think if the price elasticity of demand for hotel rooms has always been price elastic even during pre-covid times or otherwise? If so, consider revising your statement. Team could also explore whether demand has become more or less price elastic.

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The market structure of the hospitality industry in Singapore.

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Market Snapshot

Study Period:

2016 - 2026

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Market Overview

Singapore has been recording a rising number of travelers from the past decade. In 2009, the total number of international arrivals was around 9.6 million which almost doubled in 2019 to approximately 19.1 million. According to a report by DBS Bank, there has been a gap in the supply of hotels or different forms of accommodations to match the growing number of travelers to the country. The total number of visitors per country is growing at an average of 6% from the past 10 years whereas, the hotel room supply is growing at only 4.2% especially in the past four years which is challenging the tourism industry in the country. However, in order to reduce this gap, the country is making efforts to increase its hotel project construction pipeline which holds various projects which are at different stages of construction of which more than 90% of new hotel rooms are slated for opening in 2021-2023 are upper-midscale and luxury hotels. Also according to the latest rankings of ease of doing business, by World Bank in 2019, Singapore has been ranked second in it which further explains the opportunity for hotel industry expansion.

Scope of the Report

A complete background analysis of the Hospitality Industry in Singapore, which includes an assessment of the industry associations, overall economy, and emerging market trends by segments, significant changes in the market dynamics, and market overview is covered in the report.

Report scope can be customized per your requirements. Click here.

Key Market Trends

Rising Number of International Visitors are Driving the Market

The number of international tourist arrivals to Singapore has been increasing since 2000 with only 3 instances of contraction which were short-lived. Even with increasing competition from Indonesia, Vietnam and, Thailand, the number of visitor arrivals to the country is expected to be moderate and continue to grow at healthy rates in the forecast period owing to the Singapore Tourism Board's (STB) marketing campaigns to attract tourists from various locations across the world. For instance, STB has proved successful in attracting tourists from tier - II and tier - III cities of China.

To understand key trends, Download Sample Report

Key Players are Focusing on Innovative and Package Customisation to Attract More Customers

Singapore is greatly seen as a holiday destination and is been recording a high number of leisure travels. More than 55% of the travelers are visiting the country for leisure trips which are followed by business travel at 11%. Even with the fluctuating occupancy rates over the past 10 years the region has been recording rising revenue per room year on year which is making the region a better opportunity for investors. According to Wyndham Hotels & Resorts, the firm is going with the new strategy which focusses more on Singapore serving as a major business hub in mind. The firm is planning to host numerous group events throughout the year by fulfilling the fundamental demands of the corporate groups that are shifting drastically away from the traditional conference settings by being the one-stop- solution to provide work-related meeting space along with providing play and relaxation for visitors.

Competitive Landscape

The hotel and accommodation sector in Singapore is a combination of homegrown players and international players. Most of the hotels are strategically located in places that are highly preferred by tourists. The region holds good demand for hotels as the supply is little less than the demand. With the co-operating government policies, the region is an attractive one for the investors.

Table of Contents

1. 2. RESEARCH METHODOLOGY

2. 3. EXECUTIVE SUMMARY

3. 4. MARKET INSIGHTS AND DYNAMICS

1. 4.1 Market Overview

2. 4.3 Impact of COVID - 19 on the Hospitality Industry

3. 4.4 Insights on Revenue Flows from Accommodation and Food and Beverage Sectors

4. 4.5 Leading Cities in Singapore With Respect to Number of Visitors

5. 4.6 Investments (Real Estate, FDI and others) in the Hospitality Industry

6. 4.7 Technological Innovations in the Hospitality Industry

7. 4.8 Insights on Shared Living Spaces Impact on the Hospitality Industry

8. 4.9 Insights on Other Economic Contributors to the Hospitality Industry

9. 4.10 Value Chain Analysis

10. 4.11 Porter's Five Forces Analysis

4. 6. COMPETITVE INTELLIGENCE

1. 6.1 Market Concentration

2. 6.2 Company Profiles

1. 6.2.1 Accor S A

2. 6.2.2 Marriott international

3. 6.2.3 Far East Hospitality

4. 6.2.4 Forward Land

5. 6.2.5 InterContinental Hotels Group Plc

6. 6.2.6 Pan Pacific Hotels Group

7. 6.2.7 Millennium & Copthorne International Limited

8. 6.2.8 Hotel 81

9. 6.2.9 Shangri-La hotels & resorts

10. 6.2.10 Marina Bay Sands

3. 6.3 Loyalty Programs Offered by Major Hotel Brands

5. 7. INVESTMENT ANALYSIS

6. 8. FUTURE OUTLOOK OF THE SECTOR

**Subject to Availability

Frequently Asked Questions

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hospitality industry in singapore market size

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hospitality industry in singapore market share

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hospitality industry in singapore market analysis

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hospitality industry in singapore market forecast

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hospitality industry in singapore market overview

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Hospitality Industry in Singapore - Growth, Trends and Forecast (2020-2025)

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Study Period: 2016 - 2026 Download Free Sample Singapore has been recording a rising number of travelers from the past decade. In 2009, the total number of international arrivals was around 9.6 million which almost doubled in 2019 to approximately 19.1 million.

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Hello friends :) I appreciate all of your efforts for this project! I'm so sorry that I am a bit blur and have to catch up with all of you guys so I truly wanna thank everyone for being patient with me and guiding me throughout this project! One area we can improve on is that I think that we can research further for insights on the hospitality industry for our project!

An interesting fact I found was that travel and tourism is one of the largest and fastest-growing industries in the world. The tourism revenues of Singapore have been hovering around the SGD$23 billion mark in the past few years and has been dipping towards the SGD$21 billion mark in the last couple of years due to COVID-19 and other diseases that struck Singapore such as the ZIKA virus, with the hotel industry being struck the hardest out of all the sectors in the travel industry.

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Hey everyone! I appreciate everyone’s cooperativeness and willingness to work together! Couldn’t have gotten funnier groupmates! A part that we can improve on is to continue to communicate our ideas across so that we can get things done better and more as a team.

An interesting fact that I have discovered is that the Raffles Hotel in Singapore has had a tiger shot dead before! In 1902, there was a travelling circus in Singapore and they had a tiger from the circus escape, hiding under the Bar and Billiards Room of the Raffles Hotel. A principal of a school nearby, who happened to also be a hunter, went and shot dead the tiger, missing the first 3 shots due to him being tipsy from a function during the evening and only eliminating the tiger the fourth time, with a shot directly through the middle of the head, between the eyes.

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Hello my fellow group mates, I'm so thankful to be working with you guys and for making discussions fun. I hope we can continue to work together and learn from each other. :)

One interesting fact that i learnt about the hotel industry after my research is considering Singapore is so small there are still so many hotels available. Despite the pandemic, hotels are still growing and trying different ways to upgrade their hotels to appeal to customers. There are still hotels opening despite the pandemic such as the clan hote.l

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I am a very slow learner so thank you for always explaining the answers to me when I do not understand. I appreciate it, friends. One of the areas that we can improve on is we can actually discuss together and find out about the Hospitality Industry more in-depth.

After doing my research, I find that despite the pandemic and the drop in income and visitors at the start of the pandemic, Singapore still managed to bounce back from it by focusing their target market on Singaporeans. Also, instead of letting the hotels be quiet, most hotels provide quarantine stay for people who are in close contact with covid or people that were tested positive for Covid-19. This way, their resources in the hotels will not go to waste and the employees will still have a job to do amidst the whole situation.

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Thank you, friends for working so well together. Although, sometimes I am a bit blur, thanks for helping me and guiding me through the process. One area that we maybe could improve on, was probably adding more findings or done deeper research. Other than that, we did well! Hope to work together with you all again :>

One interesting fact I learned about hotels is that during the COVID-19 period, when hotels were closed and used as a quarantine facility, many hotel employees volunteered to become frontline workers to aid patients who may have contracted the virus. I have the utmost admiration for them for being so brave during such a difficult period.

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Statistics from STB regarding Singapore's room rates for 2019 to 2021

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Macroeconomics Prelim Analysis [Based on 5 key sources of information]  

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Macroeconomics Prelim Analysis [Based on 5 key sources of information]  

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Singapore's economic situation and impact on the hotel industry
COVID-19 Impact on Singapore’s Tourism and Hospitality Industry

Prior to the Pandemic, the tourism and hospitality (including hotels) contribution to Singapore’s GDP was 4%, but has seen a significant decrease due to the COVID-19 situation with a contribution rate of only 0.1%.

There has been a  85.7% decrease in visitor arrivals, from 19.1 million to 2.7 million visitor arrivals after the pandemic. Tourism receipts also fell 78.4% from $27.7 billion to $4.4 billion.

The pandemic has resulted in tighter restrictions, prolonged lockdowns and travel bans which resulted in almost no tourists visiting Singapore.

With no tourists visiting Singapore, there would also be an overall decrease in demand for hotel accommodations.

This naturally decreases the tourism receipts, which is one of the main reasons for decrease in GDP.

To find out more for report:
- how the decrease in tourists affected the overall economic situation in the tourism sector (Eg. GDP)
- how the opening of VTLs has started to affect the current situation in the industry

Current state of the Tourism Industry in Singapore

In more recent times, many players in the tourism industry have been developing tour and staycation packages for the domestic market here in Singapore.

With the launch of various VTLs (Vaccinated Travel Lanes), Singapore’s value as a tourist destination has increased as well. Such smaller tour plans and packages provide more value for tourists who want to explore the nooks and crannies of Singapore whilst visiting.

The country should be continuing to invest in the tourism infrastructure such as hotels, attractions and more. Despite having experienced the adverse effects on its vistorship, Mandai Wildlife Group is still developing the Mandai Wildlife Reserve by including two more new parks, which will both open by 2022 and 2024. Creating even more value to the tourism industry in Singapore.

VTLs (Vaccinated Travel Lanes) provide a source of hope for the Tourism and Hospitality Industry which allows tour operators here in Singapore to market the valuable content created over these 2 years to overseas customers and to entice and woo them to visit Singapore.

To find out more for report:
- What are other initiatives that has been introduced to revive the tourism industry in Singapore?

The focus of the industry moving towards the local market

Since COVID-19 has hit Singapore’s shores in 2020, tourist arrivals in Singapore have dropped severely. This has resulted in businesses dependent on tourists have been forced to pivot their businesses towards the local market.

Tour operators in Singapore have created tour packages for locals like going for walking tours in lesser-known areas of Singapore; travelling around Singapore in a vintage Vespa sidecar or taking a yacht to visit the quiet and peaceful Lazarus Island.

Hotels have also been targeting the locals by introducing different staycation packages and promotions to attract more customers of the domestic market to book a room with them.

A recent example would be the “Experience Fullerton Hospitality” package, launched by The Fullerton Hotel Singapore and The Fullerton Bay Hotel Singapore, which includes a dining credit of 50$ and daily breakfast for 2 throughout the duration of their stay.

To find out more for report:
- How do these campaigns interest the locals/target them

- What other ways are businesses coming up with to attract locals

Labour market and unemployment
How COVID-19 has affected the labour market in Singapore

In the third quarter of 2021, resident employment in Singapore grew more sharply, however total employment continued to fall due to non-resident employment.

Resident employment increase was led by sectors such as Information & Communications, Professional Services, and Financial Services, as well as domestically-oriented sectors of Administrative & Support Services and Health & Social Services. However, resident employment growth in consumer and tourism-related sectors continued to trail behind the other sectors.

Ongoing border restrictions contributed to the continued contraction of nonresident employment across most industries.

The unemployment rate in the third quarter was quite stable. The unemployment rate declined from 2.7% in June to 2.6% in October.

It is seen in terms of the unemployment rates for graduates with a degree continued to decline as the year gets better. It declined from 3.6% in 2020 to 2.8% in 2021. This shows that there was an increase in frictional unemployment due to the decline of job vacancies and hence graduates unable to be employed.

To find out more for report:
- Unemployment statistics for the hotel industry
- How the hotel staff were impact during the pandemic

Government measures for those unemployed due to COVID-19

The government has put out many budget schemes since the pandemic started to aid citizens in singapore who are struggling due to the pandemic situation

For budget 2021, the job support scheme has extended from 2020 to 2021

Firms are split into different tiers. Tier 1 includes tourism, Aerospace, and Aviation. These firms will receive 30% support for wages paid April to June 2021 and 10% support wages paid from July to September 2021.

This shows that the Singapore government has given employment incentives for firms to employ more people.

The government has also launched SGUNITED jobs and skills packages.

As of the end of 2020, nearly 76,000 individuals have been placed at jobs, traineeships, attachments and skills training during the pandemic year. Since these people could not get a job they took the opportunity given by the government to upgrade their skills.

Hence, this shows that the government put in an effort to improve employability.

Government measures to aid the Tourism Industry during the COVID-19 Pandemic

With the local market becoming the main focus for Singapore, many industries have redirected their efforts into marketing towards the locals, this is especially the case with the tourism industry.

The Singapore Government has recognised this and has come forward to support them by coming up with the SingapoRediscover Vouchers, whereby $100 worth of vouchers is given every Singaporean, aged 18 and above.

The SingapoRediscover Vouchers, which are meant to revitalise the different tourist-reliant businesses by enticing Singaporeans with a government-funded discount and this has allowed these businesses to make some revenue and keep their current employees.

According to the article, as of Jan 1st 2021, over 300,000 Singaporeans have redeemed the SingapoRediscovers vouchers to book an attraction, leading to an expenditure of $35.9 million dollars in terms of the vouchers.

To find out more for report:
- How the SG Rediscovery Voucher helped Singapore's Hospitality Industry during the Covid-19 situation

Inflation of hotel industry

Inflation is defined as sustained and continuous increase in the general level of prices of goods and services in the economy

It has been seen that, in 2009, a mid-tier room costs about $140.28; in 2010, it increased to an average of $164.08; in 2011, it increased further to $185.80; in 2012, the price rose even further to $192.16.

This shows that over the 4 years there was a gradual increase of the average hotel mid-tier room rate, which indicates that inflation has occurred.

Not only did inflation occur over the years. Deflation also occurred in the years 2014-2016. The average room rates for 2014-2016 were $181.92, $174.88 and $170.54 respectively.

Deflation is defined as a sustained and continuous decrease in general level of prices of goods in the economy. Deflation causes lower prices, however deflation may not always be good as it causes job opportunities to be lost and firms to delay investments.

The rates of hotel room prices during these years did not have a drastic change hence it did not really affect the hotel industry.

In 2020, the COVID-19 situation affected the hotel industry quite badly. Hotel room rates plunge to as low as $65 in June 2020 for mid-tier rooms from an average of $160 the previous year. From July to December, it can be seen that the price of the rooms started to increase due to the end of circuit breaker in Singapore and there was a gradual increase of demand for hotel rooms.

In 2020, the GDP was in the negatives, people were being retrenched and there was no economic growth rate. Since the prices of the hotel rooms were inflating,  and that there was zero economic growth, stagflation can be described to have occurred.

To find out more for report:
- Causes of inflation of hotel room rates
- Causes of deflation during the years of 2014-2016

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How COVID-19 has affected tourist arrivals and how that has affected the economic situation.

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Visitor arrivals to Singapore plummet more than 80% in 2020, expected to stay weak amid COVID-19: STB

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SINGAPORE: Singapore’s tourism sector experienced its “toughest year on record” in 2020 due to unprecedented global travel restrictions and border closures amid the COVID-19 pandemic, said the Singapore Tourism Board (STB) on Monday (Feb 1).Visitor arrivals plummeted 85.7 per cent to 2.7 million

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The current outlook for the Tourism Industry here in Singapore.

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Tourism sector eyes long-term goal - recovery

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Tourism players believe the past 18 months spent developing new packages for local market have strengthened Singapore's value proposition. . Read more at straitstimes.com.

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Labour Market and Unemployment in Singapore.

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                                                                                                                                            STAGE 2

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MACROECONOMIC PRELIMINARY ANALYSIS

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MICROECONOMIC PRELIMINARY ANALYSIS

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Hotels achieving customer satisfaction

[Supply determinant: Expectation of sellers]

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The travel industry is dominated by customer service, and hotel businesses live and die by the satisfaction of their guests. As customer demands grow, so does the complexity of delivering an experience they'll be happy with.

Much is discussed in regards to guest experience in today's travel world, but often the guest experience and hotelier experience are inextricably linked. Both inspire and feed each other through demand, expectation, and satisfaction. In contemporary society, hotels are facing complex distribution, pricing, and guest contentment challenges - and that's before COVID-19 hit!

It sees them fighting to balance their own business needs with the increasing and dynamic nature of travel technology, and the savvy, resourceful attitudes of travellers. As a result, hotels need to be led by traveller behaviour. The majority rules. Early adopters are typically well-educated, have high incomes, and are willing to take risks. Hotels are realising they need to be in many places at once, with constant visibility being a cornerstone of booking success.

When it comes to pleasing guests, 'personalisation' is as buzzed as a word can get, but for good reason; there's no excuse not to be taking a more focused approach to customer interaction. However, optimising the guest experience and ensuring guest expectations are met is a constantly evolving challenge for hoteliers. With a veritable banquet of options at their fingertips, travellers are demanding more than ever before. It makes life harder for hotels, but also gives them a greater opportunity to deliver an experience guests will never forget. The collection and use of customer data will allow a hotel to effectively personalise their service for guests.

This blog will continue to delve into how you can perfect the guest experience at your property, including during the COVID-19 era.

Hotel experience expectations: Guests want tech-savvy operators

A new breed of tech-savvy travellers has emerged in recent years, and they expect hotels to be keeping up with technology. Even older generations are now well-versed in the use of social media and mobile devices, two things that are vital considerations for hoteliers. This means mobile-friendly websites, easy navigation, and a quick and simple booking process. Even while gaining inspiration to travel, people are using mobile technology to browse Facebook or Instagram, so a constant presence is needed from hotels.

Recognised as one of the most critical aspects for hotels, the guest experience starts prior to their check-in; it begins during their research for accomodation and also continues post-stay, with technology being a driver throughout the entire journey. Your guests may have found you through one of your online travel agents listings or directly on your own website and it's at this point that your responsibility for their experience with your hotel starts. Once they've decided on a destination, their excitement will propel them into searching and booking a hotel. Guests expect this process to be fast and simple with payment systems that are accessible via mobile.

Mobile has become increasingly important. Consumers are finding more ways to solve their own enquiries. One of the methods they use is by downloading apps. When it comes to booking your hotel, they expect to be able to easily check their details and interact with your hotel instantly through an app rather than by email, phone, or web browser. If you don't have an app, guests may decide to book elsewhere.

Hotel customer service in the COVID-19 era

There's no doubting that COVID-19 has changed customer service forever. The way that hospitality businesses operate and deliver experiences will undergo a raft of edits and adaptations to form a new normal in the long term. But changes have to happen now, and quickly. Failure will result in a business that isn't operating at all.

On top of complying to any government and industry instated requirements, hotels will need to look closely at what travellers might be coming to their area, what they're looking for, and what services can be provided to them.
Take into account:
Many guests will be hesitant to book too far in advance and also may be forced to cancel reservations at short notice. The waiving or relaxing of cancellation fees is widespread across the industry for hotels, OTAs, and airlines. It will help to ensure vital guest satisfaction and future loyalty by offering empathy through flexibility.

Travellers will naturally be health conscious when they travel in the immediate future so you need to make assurances that your hotel is undertaking best practice in this area. Assess which areas of your property need improvement and increased precautions.

Shared spaces (lobby, bar, restaurant, pool etc)

Overcrowding should be avoided at all costs as many guests will be concerned about this - and it will likely be illegal. Again, assurances will need to be made that you have this under control. Intensify cleaning procedures, especially in high touch areas like these.

Contactless check-in, room entry, room service etc

These are requests that travellers have been leaning towards for some time prior to the pandemic, but will become much more of a demand now. Not only will it save the guest time and inconvenience, it will now make them feel safer. Hotels should access industry specific apps to help with check-in and room functionality.

The psychological effects of a global event like this shouldn't be understated. Travellers will be looking for body and soul restoration, to feel healthy, clean, and normal again. Many will be eager to escape the surroundings they have just spent in lockdown to find calmer experiences.

Surge in adventure/active holidays

Being cooped up for weeks and months on end will have travellers craving adventure, exploration, and fun new experiences. Hotels should look at what packages they can offer for this group. It's the perfect time to connect with local companies to broaden your offering.

Even when all the restrictions have dissipated, the fear won't. Guests will be making sure local health services are close to where they are staying and are reliable, to ensure the safety of themselves, family, friends, and colleagues.

To aid guests, update information on your website, including room descriptions and use guest messaging apps to make communication easier and more personalised.

It's important to put together a solid, proactive action plan that redefines the guest journey if you're going to come out on top after the dust settles. The businesses that innovate and recognise the opportunities available to them will be the ones that succeed.

Hotel guest experience advice for hoteliers

To help get things off on the right foot, there are plenty of important tasks you can perform before your guests even finalise their booking or arrive for their stay. You want your guests to be in a good state of mind before they stay with you - anticipating their trip with excitement. This won't happen if they have a bad experience on your website or with your booking process.
Here are some tips. Assess your website experience

Integration - Seamless integration between your website and online booking tool is a must if you want guests to have a user-friendly experience and convert strongly.

Rates and availability - Your rates need to be up-to-date and clearly displayed. Keep your packages simple and connect to OTAs to increase your distribution.

Mobile capability - More than 50% of travellers are booking their hotel using a smartphone. Your website must be optimised for these devices and you should also add links for maps so travellers can find your hotel while they're out and about.

Design - The design of your website is one of the biggest advertisements for your hotel to travellers. Guests want a clear picture of what it's like to stay at your hotel. It's important to include high-quality images and clear, legible text to position your hotel in the best light possible.

Navigation - Ideally your website won't be too many pages deep with simple headings, and a 'book now' button that is the first thing visitors see when they land on your homepage.

Manage your hotel's online reviews and reputation
Travellers put a huge focus on reading online reviews before they make a booking. Sites like TripAdvisor are extremely popular so you need to have a verified and positive presence on these sites. Address all comments, negative or positive, in a considerate and timely manner. By showing that you've taken constructive criticism, your visitors will feel assured that their concerns are your top priority. Encourage guests to post about their experiences online, or ask if you can share their comments. By taking a proactive approach, your reputation will remain positive.
Think creatively with your packages
Guests won't purchase a package just because you tell them it's a great deal. You need to offer them value for money and something that will excite or interest them personally. Packages can apply to both leisure and business travellers as a pleasure and convenience respectively. Your hotel can only benefit from selling packages as guests who purchase them are less likely to cancel their booking. Ideally you want a package that will please every guest but at the same time, if you have too many it will dilute the impact. Three great packages are better than 10 mediocre ones.
Use other businesses to enrich your packages
Combining your services with that of another tourist attraction in the area is a surefire way to add value to your packages. It also gives you a lot of flexibility on what you can offer guests. Tickets to zoos, tours, theme parks, museums are always popular, as are restaurant vouchers. Even concerts or one-off events can be leveraged as short-term packages. This way you can cater for many different guests, those interested in adventure and those more excited by shopping or fine dining. Keep in mind that the situation with COVID-19 can change quickly so you need to update packages accordingly.
Promote one-stop shopping
Savvy travellers will look at your packages and wonder exactly what kind of deal they're getting. Unless you and your business partner agree to offer discounted prices it's likely the combined price of a room and a tour package will be similar to the components purchased separately. This is why you need to advertise the convenience and quality of what you're offering, rather than spruiking the cost.
Be creative with your choices
Guests might become rather bored if they see yet another 'romance' package. Try incorporating more interesting content into your packages and their names. For instance a 'bucket list' package might include a selection of passes or discounts to the absolute must-sees of the local area. This will be an attractive option for guests because it's likely they are already interested in visiting those landmarks.

For business travellers, always focus on convenience such as a package delivering breakfast to their room, free dry cleaning, and transport services.
Use your own property to add value
While most packages include a room and some type of external activity, you can make your packages even more enticing by adding your own service to the mix such as spa-treatments, a bar tab, or private dining experience. Guests will want to experience your amenities and they'll be more likely to pay to do so if it's included in a package.
Cater for speciality markets
Never ignore families. Often it's the children you're appealing to most because parents will be looking for activities that will occupy the kids. The same principle applies if you're a pet-friendly hotel. You must also consider guests with disabilities and people with specific occupations that you can give personalised packages to.

Next steps

When your guests do arrive and stay you need to consider how you engage with them to create a great lasting impression. Being approachable and easy to communicate with throughout the entire journey will be much appreciated by guests. Hotels must become more open to conversation. Communication with guests needs to be multifaceted if your hotel is going to please everyone. Use social media and other communication modes - text messages, WhatsApp, phone calls and more to create a rapport which grows into a relationship. This is just another opportunity for you to offer value adds and upsell the experiences.
To make guests feel at home:

Introduce them to local and cultural experiences - Attract leisure travellers by including local culture and authentic experiences. You should offer plenty of information and value on nearby attractions, classes, and restaurants celebrating regional culture

Work on fostering personal connections - Prioritise the creation of social spaces and designate specific times for social events so guests can interact with each other. This will also allow guests and staff to interact more, building closer relationships and hopefully creating loyalty. During COVID-19 you may need to be prepared to host more frequent social events to accommodate a smaller number of guests who want to gather together.

More ideas to enhance hotel guest experience

Some obvious goals when serving guests are to make things easier, faster, more personal, and more satisfying. These days much of what you're trying to achieve can be approached with a technological solution.

Consider the following examples.

Internet of Things
The connection and integration between different technologies and devices has been hotly anticipated by most industries, and it provides huge opportunities for hotels. For a guest, walking into a 'smart' room where they can immediately sync and exchange data with every electronic device from their phone is the new height of convenience and efficiency. This is what the Internet of Things (IoT) offers, with experts estimating around 30 billion objects making up the network in 2020. Already, IoT products like LED lighting, automated curtains, temperature control, virtual concierge, smart TVs, and more are changing the way guests navigate their hotel stay. Sensors are already hugely popular, replacing buttons, handles, or other traditional mechanisms to enter rooms or operate devices. Mobile phones are an extension of this, eliminating a lot of physical interaction at the hotel.

Chatbots
Technology is often blamed for stifling human interaction and, in particular, the art of meaningful conversation. So it's no surprise, then, that some of the technology industry's best-loved platforms have historically centred around chatting.

Chatbots are designed specifically to stimulate intelligent conversation with human users, and have become the norm in the hotel industry. Texting and messaging will very soon become the simple and central entry point for the entire customer service ecosystem since it's quick, private and easy to use.

Mobile apps
Apps can make life simpler for both your hotel and your guests in a number of ways:

You can immediately enter into conversation through an app, allowing guests to clarify details or make requests while you can offer guests special deals and promotions or ask for feedback. An app also allows integration with other communication channels like social media or push notifications. This means guests will never miss an update and can always access information on the go.

Integrating your guest loyalty program into your mobile app will allow guests to more easily collect points, earn rewards, and claim their benefits. You could even ask guests to build a more comprehensive profile in the app to gain more points. With more data, you can get to know more guests on a personal level and provide a greater level of service to them.

By integrating your booking system with your app, your customer can literally do all their shopping in one place. They can book, confirm, request changes, purchase extras, receive and send messages - all within the app. This creates a faster and less confusing experience for travellers.

On an app you can curate a personal guide for your guests telling them about all the features of your hotel, what attractions are close by, and where they should go to shop and eat. They could even make bookings for spa sessions at the hotel while they're out. Guests are always looking for convenience on a trip, so helpful suggestions go a long way.

Even though apps are becoming increasingly popular, there are still many hospitality businesses that haven't adopted them. Having your own app will immediately put you ahead of other hotels in the eyes of guests and allow you to capture bookings you otherwise wouldn't have.

Many mobile communication apps have the capability to translate communications back and forth. So if a guest sends a message in their native Spanish, your hotel will receive it in English and translate your reply back to Spanish. This ensures there's never any misinterpretation of requests or enquiries.

While a mobile app is a great idea for your hotel to implement, it can be hard to incentivise guests to download one for every property they visit. The best strategy is to get as many return customers as possible and unlock unique rewards through your app.

A shopping cart experience
Purchasing has evolved to be one of the simplest yet diverse things a person can do in the modern world. It's all too easy to fill up a virtual shopping cart with the movement of a single finger, but there has also never been more options for buyers to choose from. This system has been built upon the desires of consumers. When you think about shoppers in general, a range of options and freedom of choice are highest on their list of demands. But is there a hotel shopping cart experience? The short answer is no.

In reality, the process of purchasing a hotel room has been a very limited one. Customisation is kept to a minimum to make it easier for the hotel to manage their guests. Many hotels offer very similar packages or extras in distinct bundles that leave guests frustrated they can't mix and match features.

Above all else, travellers want control. If someone is going to travel a long distance, most often overseas, to stay somewhere it's only fair they're in charge of their entire experience. But with a 'set-menu' of choices when booking a hotel, the likelihood of them being 100% satisfied with their stay is rather slim.

What if travellers are simply offered the choices that correspond to their desires? For instance guests could book in as little or as much detail as they want, including:

Dropping a balcony into their cart

Select a room on a low, mid, or high level

Choices about what should be stocked in the mini-bar

Specific bathroom amenities

A pillow bar to choose from or even soft, medium, or firm mattresses if you can manage it

Enhance guest experience with... experiences!
Here are some tips for offering experiences to your hotel's guests - whether you're located near well-known mainstream landmarks or some hidden gems off the beaten track:

Tip #1
Research, research, research
A quick Google search for 'things to do' in your town or city will reveal the key attractions that drive your guests to the area. Try to support the promotion of those activities and ask your hotel's staff for their own favourites from the list. You could organise a research trip for your team so that your staff can recommend experiences more personally. The more you research, the more knowledgeable you will be and therefore more valuable to your guests as they seek inspiration and expertise.

Tip #2
Go it alone and create your own
You don't have to be located in one of the destinations where TripAdvisor or Airbnb list their top experiences. If your property isn't in a tourism hotspot, create your own experiences which you can sell as add ons during the checkout phase on your website. You could have a tea brewing expert on site, wine expert, cheesemaker or perhaps you have a semi-pro photographer among your hotel's staff. Delve into their skills that go beyond traditional hospitality and experiment with different offerings showcasing the diversity you have on offer. Research similar experiences to get your price point.

Tip #3
Sell smart using an intuitive booking engine
Your direct booking engine or online reservation system should empower customers to explore extras such as guest experiences. Many guests at the booking stage will have done some early research around the destination and will be familiar with some of the more popular activities on offer. Use this familiarity to your advantage and create add on packages within your online booking engine. It's a quick revenue win and gives guests one less thing to book at a later stage - convenience and price are a key consideration here.

Hotel customer service tips

Every industry has its own definition for customer service excellence but in the hotel industry in can come down to three factors:

1. Detail - True attention to detail can't be found in a manual. It can, however, be inspired by great working conditions and a genuine desire to help people.

2. Personalisation - Birthdays, anniversaries, and other special occasions are great opportunities to personalise a guest's experience. But there are plenty of ways to customize their visit every day, you just have to look for them.

3. Creativity - Customers have expectations for what most hotels will and won't do. Identify them. Then make it a habit to go above and beyond in interesting and delightful ways.
Here are some more tips to ensure you deliver the best customer service at your hotel:

Hire the right personalities for customer-facing roles

Surprise your guests with presents and appreciation

Go out of your way to please guests

Survey your guests so you can serve them better

Be available always

Communicate effectively and regularly

Empower hotel employees to take initiative

Serve with a smile

Listen and respond to customer needs

Some of these tips might seem obvious but it's one thing to listen to customers, and quite another to show them you are listening and make a difference to their experience they can see and feel.

Achieving guest satisfaction in hotels: The online experience

As stated previously, the experience a guest has with your property begins the moment they find your property online, via your website, social media, or on an OTA. It's vital that you consider what impressions they'll be forming during this research phase - you need to win them over here and good online experience is the way to do it!

Here are some ideas on how to attract your guests and make sure they don't abandon you online.

Think like your customer
Put yourself in your customers' shoes and think about which of your property's attributes attract guests the most. It may be great price, location, room types, specific services, particular amenities; whatever they compliment most during online or offline feedback.

Now consider if you're showcasing these attributes to the fullest extent via your website. This analysis will help you to optimise your online positioning. Taking into consideration your best selling points, you can define the best way to put your property out there with a greater impact on your current and potential customers. Travellers want an accurate picture of what they're getting for their money.

Be relevant to travellers' goals
Focus on your website's utility-value and on the content you offer. Your website's main goal is to generate bookings for your property, so you must consider if you're offering all the information your guests need prior to making a reservation. A good start is to be very clear and objective about the accomodation structure and amenities, as well as about the terms and conditions for payments and cancellations.

Make your website more appealing with high quality photographs from the rooms and common areas of your property.

Be pleasant and approachable
Aesthetics matter! Especially when talking about websites. Think carefully about your design and whether it's robust or minimalist. It's important to have a website which your customers are happy to spend time on, without feeling bothered by convoluted, long-scroll pages. Intuitively, when navigating on a website for the first time, we tend to know more or less where everything should be. For example, we know that on most websites the logo is also a link to the homepage, because we are all used to common online conventions.

When unsure about your design, rely on these conventions to make the customer feel more comfortable. A clear and obvious logo, contact information, navigation menu, social media icons and booking search options are the standard etiquette for any hotelier website header.

Remember: You are not your customer
Thinking like customers is essential, yet within the minutiae of everyday duties it is easy to lose perspective. You probably know everything you need to about your website, so a simple task like finding information or making a reservation becomes very intuitive. It's not the same for visitors.

When possible, try to run usability tests. Ask a friend, colleague or trusted customer who is not familiar with your website to complete a given task and to guide you through the process talking out loud. With this simple exercise you should be able to identify the main challenges that your guests face, from poor load speed to varying navigation difficulties.

Hospitality vs customer service: Lessons for hoteliers

There's plenty of discussion online about the distinction between service and hospitality and most of it points towards there being a clear difference. Service gets things done, while hospitality delights and brings experience to life.

While in some cases it can be subtle, sometimes it means the world to a guest. Using check-in as an example, your customer service might include asking for names and identification, and directing the guest to their room. Your hospitality will include a warm greeting and some questions to get to know the guest better. These conversations can uncover a lot of vital knowledge you can use to further enhance the experience of your guest - something that wouldn't have been possible by simply dotting i's and crossing t's.

The snowball effect can be huge for your property. When you show your customers you care enough to give them something extra it can win you a repeat customer for life, ensuring valuable revenue for your business. Additionally, going the extra mile and providing hospitality will likely generate strong customer reviews and referrals, making it easier to attract new customers and win more bookings.

Another way of boiling it down is to describe service as transactional, while hospitality is sincere and interactive. Understanding this can change the way you run your hotel and it will change the way guests experience your hotel too - all for the better!

Key takeaways

Often the guest experience and hotelier experience are inextricably linked

The guest experience starts from the moment they start researching

Travellers expect hotels to be keeping up with technology

Make COVID-19 precautions and requirements a priority

It's important to assess your website and online experience

Think about locality and culture to give guests a unique experience

Use technology to make things easier, quicker, and more exciting

Focus on being detail oriented, creative, and personal

Hire the right staff and empower them

Think like your customer and be relevant to their goals

Go beyond service to deliver great hospitality

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Guest experience in hotels: How to achieve complete customer satisfaction

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Much is discussed in regards to guest experience in today's travel world, but often the guest experience and hotelier experience are inextricably linked. This blog will continue to delve into how you can perfect the guest experience at your property, including during the COVID-19 era.

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[1] Statistics on the tourism & Hospitality sector
https://www.statista.com/topics/5234/tourism-and-hospitality-in-singapore/#dossierKeyfigures
[2] Tourism Sector performance report 2020
https://www.stb.gov.sg/content/dam/stb/documents/statistics-marketing-insights/Quarterly-Tourism-Performance-Report/STB%20Q1%202020%20Tourism%20Performance%20Report%20-%20FINAL.pdf

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Impact of technology on hotels in Singapore
[Supply Determinant : Technology]

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Vouch Concierge | Guest Experience Platform for Hotels

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"The Vouch Team has been extremely flexible in time of need, and the team recommends the right product/services effectively. The dedicated Manager from Vouch is creative with great ideas to help streamline our processes with their solutions.

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[Supply Determinant: Expectations of sellers]

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Why new hotels are still opening in Singapore despite the COVID-19 pandemic

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SINGAPORE: After opening the doors to The Clan Hotel in the central business district last month, Far East Hospitality is already gearing up for another launch th

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Buyers demand for hotels
[Demand determinant: Expectations of buyers & number of buyers]

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In Singapore, all eligible citizens are set to receive a $100 SingapoRediscovers voucher as part of the government's efforts to boost tourism, which has been adversely impacted by the COVID-19 pandemic.

In light of the current promotion, it is natural to see an increase in demand for hotels, tours, and attractions. Standard processes and procedures for staycations have completely changed post-pandemic. Hoteliers should adapt accordingly to changing guest expectations to remain competitive in this challenging economic climate.

Only by understanding guest expectations can hoteliers continue to provide quality guest experiences and ensure guest satisfaction, pandemic or not. Here are some measures and procedures that hoteliers should implement to ensure a quality stay for Singaporeans during their staycations.
Getting SG Clean Certified
Due to the global pandemic, Singaporeans have naturally become very hygiene-conscious. The National Environment Agency (NEA) has launched an SG Clean Programme that certifies hotels with the "SG Clean" quality mark - a 'premises-based sanitation and hygiene indicator.'

Hotels need to comply with a 7-step checklist of requirements, including employing an SG Clean manager to ensure that there are documents and records of all preventive measures before getting certified.

Even though the certification is currently voluntary, all hotels should strive to get the SG Clean certification to gain the trust and confidence of local Singaporeans that will be booking their staycations.
Seamless & Contactless Check-In Processes
The web-based contactless check-in process ensures that local guests do not have to come into contact with traditionally high touch surfaces, such as the reception area.

With 85% of Singaporeans expected to use a mobile device to complete a check-in, hoteliers should look to solutions such as GTRIIP, which provides seamless and contactless online mobile check-in and checkout for guests.

Guests will have to input and verify their booking details by uploading an image of their passports or identity card on their personal mobile devices. These details are then auto-populated and matched against their smartphone selfie. These solutions will save the guest time and inconvenience, making them feel safer, enhancing the overall guest experience.
Flexible Booking Policies
The pandemic's unpredictable nature has caused local guests to be hesitant to book a hotel for their staycations despite Singapore's improving situation. This rings especially true if they may be forced to cancel reservations at short notice, as seen in the recent second wave resurgences of the pandemic around the world.

Hoteliers can help ease this worry by providing flexible booking options. This will encourage Singaporean guests to book a room with the hotel, knowing that if they have to cancel, there are procedures for a refund or even reschedule the booking to a later date when the situation has improved.

Understanding guest concerns, especially in such tumultuous times, will help to ensure vital guest satisfaction and future loyalty by offering empathy through flexibility.
Conclusion
Understanding local guest expectations is the first crucial step in putting together a proactive action plan that ensures guest safety, convenience, and satisfaction if hoteliers want to come out on top after the dust settles.

The year-end staycation period is crucial for hoteliers to mitigate the losses they've made during the months of lockdown. By understanding and meeting or even exceeding Singaporeans expectations, hoteliers encourage guest loyalty, spreading word of mouth.

Find out more about GTRIIP's core solution of providing hassle-free mobile web check-ins and check-outs designed for the guests' convenience: https://www.gtriip.com/hotel/.

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Meeting Expectations of Staycation Guests During a Pandemic -

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In Singapore, all eligible citizens are set to receive a $100 SingapoRediscovers voucher as part of the government's efforts to boost tourism, which has been adversely impacted by the COVID-19 pandemic. In light of the current promotion, it is natural to see an increase in demand for hotels, tours, and attractions.

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Microeconomics Prelim Analysis [Based on 4 key sources of information]  

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Microeconomics Prelim Analysis [Based on 4 key sources of information]  

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1. Market structure of the hotel industry: Monopolistic competition
The market structure for the hotel industry is a monopolistic competition. Monopolistic competition includes hotels in the hotel industry trying their best to make their product and services different from competitors to gain some market power. Firms use product differentiation in terms of choice of location, products that offer convenience, physical differences that appeal to different customer groups and real differences in the consumer’s mind to differentiate their firm from other competitors.

Support from key sources:
- There are many buyers and sellers in the hotel industry which makes it a monopolistic competition.

E.g. There are 251 hotels in Singapore according to Singapore Tourism Board

- Product uniformity
Choice of locations
- hotels are differentiated in terms of their locations. Some people may prefer hotels in the city area or downtown area. Hotels in the city area can include Orchard hotel and Raffles hotel. Downtown hotels include Marina Bay Sands and Fullerton Hotel

Different physical appearances appeal to customers
- There are different tiers of hotels customers can choose from. The hotels in Singapore range from budget hotels to 5-star hotels. Customers may choose their hotel based on their disposable income available or their preference for customer services from a hotel. 5 star hotels provide luxury spa, gourmet services and many more. However, a budget hotel only provides limited services and simple rooms. 5 star hotels also may have nicer views as compared to budget hotels. For example, Marina Bay Sands compared to Hotel Royal@Queens, the views for these two hotels are completely different. The rooms and amenities are very different, Marina Bay Sands appeals to people who have

Ease of entry and exit

- It is easy for hotels to enter and exit the hotel industry.
E.g. The Clan Hotel just entered the industry in December despite the ongoing COVID-19 pandemic situation. Six Senses exited the hotel industry in Singapore on 31st May 2020, after only 2 years of operation from 2018. This shows that hotels can effortlessly enter and exit the hotel industry.

Relatively good amount of information
- There are many resources on the hotel industry in Singapore. Sources and websites include Singapore Tourism Board(STB), klook, TripAdvisor and many more. These resources allow customers to research the services, prices and the ratings from each hotel. This allows customers to do their research before choosing the right hotel that they want to stay at

2. The taste and preferences of guests cause the demand for more technologically-advanced hotels to be increasing.

Support from key sources:
-With the rise in technology, customers are becoming more tech-savvy and prefer everything to be digital. As the times change, so do customers' expectations. Hotels must make the necessary improvements to fulfill customer needs by providing the greatest possible guest experience.

- Applications that allows guests to clarify any details or make any requests and promote any ongoing problems within their rooms are highly favoured. Personal guides for guests ,curated by these applications, also informs them about features in the hotel and of the attractions nearby. This makes the whole process of checking into a hotel more efficient and pleasant whilst also boosting customer experience.

To find out more for report writing:
How much more has technology affected the taste and preferences of guests when it comes to the hospitality industry, mainly hotels?

3. Guests expect hotels to be extra careful and cautious of hygiene and sanitation due to the pandemic
Support from key sources:
- With the COVID-19 pandemic going on, guests expect a thoroughly clean hotel for them to stay in. Many measures have been implemented to give hotel guests a peace of mind which will then encourage them to book the hotels.  E.g. NEA has recently launched an SG Clean Programme. SG Clean certifies hotels with the "SG Clean" quality mark, telling guests that the hotel meets the hygiene and sanitation requirements of the industry.
- Another example would be that Web-based contactless check-ins have also become an expectation from guests to ensure that they minimise coming in contact with shared surfaces such as the reception desk as well.

To find out more for report writing:

-A few more evidences regarding the SG Clean program for hotels

-More expectations of guests going to hotels during the COVID-19 Pandemic period

4. The supply of hotel rooms increase due to the expectations of sellers despite the COVID-19 pandemic affecting the number of hotels in Singapore the year before.

Support from key sources:
- Many locations meant for hospitality are still opening up despite the COVID-19 pandemic
- It was mentioned by CBRE Hotels Asia-Pacific associate director Zhang Jiahao that despite the current restrictions on travel due to COVID-19, demand is still expected to hit normalcy, it could “be potentially stronger than pre-COVID days due to the pent-up demand, and strong support and efforts by the Singapore Government for the industry” and that “proposed supply is believed to be adequate and necessary to cater to this expected increase in demand.”

- The CEO of Far East Hospitality, a home-grown hospitality management company with an international presence, Mr Arthur Kiong also mentioned that with COVID-19 restrictions still in place, it provided a breathing space for staff “to fine-tune all areas and be ready when international travel returns fully.” which is “a luxury we cannot afford under normal operating conditions”.

To find out more for report writing:
- Research on more hotels that are being planned to open in Singapore
- Research more why hotels expect more demand despite the pandemic

5. Technology is now streamlining the guest experience in hotels.
Support from key sources:
- Technology plays a significant role in the hotel and tourism industry
- It has helped to reduce expenses, improve efficiency and enhance the customer service experience
- At the end of 2020, SingapoRediscover vouchers were issued and that caused a surge in demand for hotel rooms in Singapore.
- Sorely-lacking manpower caused many guest complaints due to very long check-in times and too heavy of a workload to suddenly fall on the shoulders of hotel staff.
- Vouch Concierge is a app-less web-based digital concierge that acts as a one-stop shop for the guests at a hotel, with over 90% of their online queries to be answered by the digital concierge. Vouch allows guests to voice out feedbacks and concerns, arrange for contactless dining and also book facilities like gyms and spas. Based on real world data, the front desk at hotels which utilise Vouch Concierge experienced a 40% reduction of workload when using Vouch.

To find out more for report writing:

- Any other ways that technology is impacting the hotel industry

6. Price Elasticity of Demand
- Since COVID-19 has taken the world by storm, the demand for hotel rooms has fallen dramatically, so how does that impact the price elasticity of demand for hotel rooms? By using the NPHAT determinants of demand, we can come to a conclusion.
Necessity vs Luxury
- Hotels are a luxury and not a necessity
- People usually only stay in hotels when they travel to other countries or for staycations
Eg. Data from Statisca has shown that 58% of international visitors purpose visits to Singapore are for holidays

Eg. Data from the tourism sector performance report 2020 has shown that 61% of people who stay in hotels in Singapore for 2020 stayed at luxury hotels

To find out more for report writing:
- Find out more about why guests choose more expensive hotels
- Find out how do the hotels 5-star hotels differentiate themselves from budge

Proportion of income
- The rooms guest stay in and the length of stay is usually based on their income
- The price elasticity demand for hotels is elastic for someone with a higher income and inelastic for a lower income

Eg . According to the tourism sector performance 2020, the average rate of the rooms customers go for is usually $215.

Eg. According to Statistica, the average length of stay for inbound arrivals in Singapore is 4.29 nights about $900.

To find out more for report writing:
- Find out more information on guest average income base on the different hotels they stay in