By 2020, rising wealth of emerging economies will contribute an estimated $10 trillion to global GDP; of that group, the majority will be today's Millennials. This represents enormous purchasing power that matters much to consumer brands.
The first of its kind, the project was a year-long collaborative effort between Amherst College and Starwood Hotels & Resorts Worldwide. Working with the Starwood Product Innovation unit, we conducted a series of rigorous research on millennials and produced recommendations around the next generation of travelers – with a focus on Digital, Internet of Things, Sustainability, and Design, and more.
This is a presentation to the Corporate teams and Starwood senior executives at Starwood Global HQ in Stamford, Connecticut in 2013.
“Someone wearing Burberry but also hiking in Bhutan – they’re likely to come from this generation of travelers.”
We don’t necessarily want to own, but to EXPERIENCE.
[Re: team member profiles]
[Speak from notes]
The Survey
The Luxury Collection does this through blogs, commentary, and promotion of local landmarks by well-known public figures (architects, cultural-commentators, artists, and even chefs)
“Technology and innovation, hands down. Global footprint – expanding in an ethical manner. CSR and transparency are key, too. Consumers are becoming more cautious nowadays, and we support good causes. We want to feel good when we make a purchase (def a plus, other things being equal)“ Survey Respondent 5/9/2013 12:30 PM
“Technology. INNOVATION. Fashion + artwork in hotels.” Survey Respondent 5/8/2013 12:55 PM
“Develop the hotel community so that it isn't just a comfortable place to be and be served. I would like for a hotel to be a place where I can go learn something and become interested in things via short talks by local experts, dinners, workshops etc that I can participate in either for little or no charge (maybe through a Starwood members scheme?) which I would find enriching for my mind. I feel cultural and intellectual stimulation could be an area hotels could explore more of, since the body-health axis and spas have been exhausted.” Survey Respondent 4/28/2013 8:59 PM
- “Advertising green strategies and technologies, more inclusive guest activities to allow hotel guests that may not have plans to gather together and converse. Lastly, areas of the hotel which are high-tech or up to date to possibly attract a younger or different crowd.” Survey Results 4/24/2013 1:17 PM
The Panel. Similar to Starbucks, Patagonia, etc. but will be interactive, cutting-edge.
Each Hotel Branch would be in a different color
For example, The Element Brand would be Green
It will visually represent Starwood’s corporate transparency, global citizenship, and how each brand ties into the overall mission of the Starwood “Foundation”