09/10/2024
3 min
Strategy
Introducing “The New Quality Of Time: How The World’s New Tempo Is Impacting Hospitality” Report
Time has become the most valuable currency in today’s world, altering how society perceives and manages it. Accor’s new insights report, "The New Quality Of Time," delves into these changing perceptions and explores how they influence the hospitality industry now as well as in the future.
There has never been a better moment to look at how time impacts hospitality than today as Accor releases ‘The New Quality Of Time: How The World’s New Tempo Is Impacting Hospitality’ report. A part of the Group’s award-winning innovative From Change To Opportunity thought leadership series, the report identifies many of the fluctuating attitudes toward time, provides insights into the impact they have on our industry, and pinpoints potential business opportunities evolving from these trends to successfully leverage our new fascination with time.
The report focuses on these five key insights:
- Slowing Down and Time Out: The Response to the Increased Pace of Life
- Embracing The Generational Legacy: Time to Share Experiences Across the Ages
- Taking Time Together as Never Before: Seeking Connection, Community and Impact
- Welcoming the Blended Living Movement: Hospitality for Flexible Work and Leisure Time
- Protecting the Future Now: Building the Sustainable Hospitality of Tomorrow
With the ever-increasing speed of life today, people are responding with a desire to take a time out, catch their breath, slow the pace in all aspects of their lives from the workplace to home, leisure time, and travels as well as engage in “me” time by pursuing a variety of wellness activities to capture lost energy and focus.
With so many generations living simultaneously, we have arrived at a moment in time where there is a strong desire to embrace and encourage the legacy of multiple generations living, working, and traveling together and understand the impact this will have on hospitality.
There is a significant shift in how people are spending their time these days, with a new emphasis on authentically connecting with one another in myriad ways. They want to be part of a community with a collective energy for a shared interest or commitment to a cause — including while working — and when traveling, seek to authentically connect to a destination and culture in new, different, and deeper ways.
People no longer spend their days in distinct periods of “business” or “leisure” time. As the lines continue to blur, the concept of “blended living” has taken a prominent foothold. At hotels, guests readily shift between work and play, which significantly impacts a variety of elements from design, spaces, and experiences to operations and revenue streams.
As society increasingly acknowledges the need to address climate change and environmental impact, the hospitality industry has also strongly embraced sustainable practices to make a difference as well as the role it can play as a caretaker of the planet for the generations to come. This includes eco-minded construction and renovations, along with integrating local communities and ecosystems. Strides have been made, and the journey towards sustainable operations for long-term positive impact continues, transforming our industry to protect the future now.
Our findings were comprised from Accor and industry research, expert commentary, and innovating examples from leading brands within and outside of hospitality. This report has been designed to impart exciting perspectives and innovative concepts to leverage our newfound fascination with all things related to time. We hope you will make the time to review, share, discuss, and ideate for the future.