Travelling Into the Unknown – Competing in an Uncertain and Fast Changing Future

Rohit Talwar - CEO – Fast FutureNIHF Tourism Summit – Belfast - March 20th 2015

rohit@fastfuture.com www.fastfuture.com

What’s your Attitude Towards the Future?

When Worlds Collide

‘Future Proofed’ Organisations Work on 3 Horizons in Parallel

4-10+ Years

Creating the Future

1-3 Years

Search for Growth

1-12 Months

Operational Excellence

Powerful Forces are

Shaping the Future...

Making Sense of the Future

Mastery

Markets ModelsMagic

ManagementMindsetMuscle

Message / Meaning

I am My Data... and it’s Used Poorly

Our Technologies are Evolving From the Desktop...

...to Portable and Mobile ...

...to Wearable...

...Embedded...

... And Connected to an Immersive Multi-Sensory / Multi-Sensor ‘Internet of Everything’

Smell – The oPhone

Robot Service Staff – e.g. Botlr

Speed, Clarity and Cost are Keye.g. Superfast Construction

Ark Hotel - Dongting Lake - China

Alternative Revenue Models E.g. Auctions

$5190 (£3088)

$14,770(£8791.50)

$136(£81)

Magicians are Creating ‘Wow’ FactorE.g. One Time Insurance

• Smartphone service

• One day contracts

• Premiums start around US$4

• E.g:

• Sports and Leisure

• Golf (Hole in one protection)

• Domestic and Overseas Travel

Traveller Expectations and the Guest Experience are

Evolving Rapidly...

Traveller Priorities56% want a ‘home away from home’

Mobile

Self-Service

Instant Information

Speed

Simplicity

Personalisation

Integration

Consistency

Location Based

Networked

Choice

Value

Proaction

Experience

Authenticity

Control

Service Reaction Times

Reliable WiFi

Traveler motivations will become increasingly fragmented and diverse and harder to segment into clearly definable customer groupings

71%604 Respondents

Hotel guests will expect their stay to be personalized around a set of choices they make at the time of

booking or prior to arrival

92%602 Respondents

Authentic and Offline

Crowne Plaza Copenhagen Towers – Solar Power, Geothermal Well, Eco-rooms

Edgy Social Marketing – e.g. Pinellas, Florida

Community Engagement – “I’m an Athenian, too”

Romania - Confronting Social Tensions

Innovation in Sector Business Models

Continues...

Hotel Personalisation - Room 77

Transparency and Price Guarantees

Reverse Auction - Back Bid

So Where are the Opportunities?

Dark History – Prague Corruption Tours

Integrated Experiences

Hobbyists

Tepee Valley

Ulster American Folk Park

Spiritual Pursuits - Tirnony Dolmen

Culinary Experiences

Best Hotel Awards

…or be Consumed by them

Conclusion - Step into Our Fears…