A recent study showed Millennials are vacationing more than ever before, and that their annual holiday spending even surpassed that of Generation X. All segments are important to the hotel manager or owner in achieving their vital revenue targets.
How does one meet the challenges and opportunities for those marketers looking to target the different segments? At our boutique travel PR agency, we carefully monitor these trends, as our clients are hungry for ways to reach these distinct groups with their varying characteristics, since they each contribute in their own way to the bottom line.
Here are tips industry marketers, and we use in creating tailored rate packages to target the different generations. Note that all of these groups are looking online for the buzz on where to go and that’s our focus with clients – creating that excitement that your hotel is going to deliver on the promise of recharging and rejuvenating:
- Greatest Generation – That’s what Nielsen calls them – and they are 65 plus. This group is looking for discounts that appeal to their value orientation, so putting together offers during a hotel’s slower period will appeal to them. Added to that is that this segment, formerly called seniors, has more time to spend on vacation, so tend to take longer trips of one week to ten days or even more.
- Baby Boomers – These busy people, age 45 – 63, comprise a gigantic piece of the pie, and are usually traveling with children in toe. So promoting programs that free up the parents to enjoy their time off, while keeping the kids entertained, appeals to them. However, paramount is the quality time together, which will form long lasting memories.
- Generation X – Time is a precious commodity for this busy young up and comers, who are racing around with careers, babies on their hands, as well as demanding young children. This category falls in the 33 – 44 age group, is very tuned into to the school calendar, and tend to book during peak periods, not afraid to spend the extra bucks. That may be the reason they are second behind Millennials in spending.
- Millennials – This younger set – under 32, is moving up in their careers, and often have fewer responsibilities, and as a result tend to be looser with their cash. They are hungry for quick and easy getaways, and flexible in their travel schedules. While they may take shorter trips that the other groups, Millennials are now spending more per day – and since they often don’t have dependents, they will take advantage of all the perks a luxurious property offers.
In our blogs, we offer ways to reach these segments through the online channels – be it traditional media, twitter, Facebook and Instagram. We provide all of those services in an integrated program to our clients.