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Wednesday, March 22, 2023

The State Of The Hospitality Industry In 2032 According To The Class Of 2023

The State Of The Hospitality Industry In 2032 According To The Class Of 2023

Every year in the fall semester, the Circle of Compassionate Leaders works with dr. David Corsun, director of the School of Hospitality Management. University of Denver Fritz Nobel Senior Career Development Retreat. Here, students explore the past and present while building the future through a visioning project.

Dr. David Corsun is the compassionate and innovative leader of this community hospitality program and his goals for our annual partnership are:

  • Manifest and live by your standards
  • Adapt to the changes that occur in your career and maintain your standards to write the next chapter.
  • Build community inside and outside the classroom

During Pivot with Purpose, 2023 students imagined what the industry would look like in 2032, when the fear of Covid-19 has subsided and inflation has risen. According to HUB's 2023 Hospitality Outlook, hotel salaries grew 18% from 2019 to 2022, making the industry even more lucrative as a top choice for graduates entering the workforce. "Investments in technology and innovative business approaches have kept the hospitality industry afloat during challenging times…Hospitality employers that manage risk and focus on recruiting and retaining employees will thrive in 2023," says the CEO report.

Students completing graduate business studies during a time of pandemic and economic uncertainty know they must develop new ways of working to attract and retain new workers over the next decade. Here is a summary of the popular ideas they created in four categories that reflect the school's ethos: be brave, do good, change lives:

People:

  • Provide more interaction for employees to build relationships with colleagues
  • Increase the use of artificial intelligence to automate processes, leading to better working conditions and benefits.
  • Help your company maximize your human capital to ensure success and profitability
  • Use movies and the latest technology to show people more about the world we live in without traveling
  • Create sustainable residences that make travel more accessible to all
  • A wine shop serving refugees, migrants, people rescued from human trafficking, the homeless, etc. and train them in the hospitality industry or the wine world, skills that were not available before.
  • So that all families can spend quality time together at their favorite moments
  • More group trips and vacations that find connections and passions in everyone's life: soul searching
  • Everyone will have access to a trusted mentor or leader
  • To give back to the community in many ways by supporting our first responders and taking care of our planet by eliminating plastic waste.
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Product:

  • Towel folding robot
  • Virtual reality events and festivals
  • Food and drink therapy
  • Develop and modernize hotels to better serve their communities, not just with the traveler in mind.
  • Self-contained drop-off services: smart beds, cleaning assistant robots.
  • Advanced Communication Services
  • Provide services to employees that relieve stress and support people's mental and physical health.
  • A company-sponsored private transfer for hotel staff, safer and more efficient.
  • Branch

Advantages:

  • Every company will have a social mission/cause in the profit structure where a certain percentage goes to help the cause. This will only increase as Gen Z becomes more socially aware.
  • Reinvest profits into the overall employee experience and lifestyle, not just wages and benefits
  • Profit sharing with employees

planet:

  • food forest
  • Sustainable air transport … fast, cheap, electric
  • Hemp houses using hemp for restaurant/small hotel decoration and construction (textiles, hemp concrete, furniture, tableware, plastic substitutes, etc.)
  • Create 100% sustainable hotels and restaurants in their operations.
  • Waste/Recycling/Compost Organizer: Place the item you want to get rid of in the organizer and it will snap it into place.
  • Filtering water in hotels to reuse dirty water, the same way NASA recycles all rocket water.
  • Packaging solved. Every pack you order online or receive in store comes with a natural/chemical free solution that is then poured over the pack to dissolve it.

Are you Dr. Learn more about Corsun and two of her top high school students, Myril Baxter and Kevin Pereira-Leon, who were chosen by their classmates to represent the class in a friendly introductory competition, in this episode. From the podcast.

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