The travel industry has a lot to do to improve its diversity and inclusion. Although many industry leaders have pledged to diversify their businesses, the industry still lags behind in these areas. Diversity, inclusion, and equity in the industry remain key concerns. For these reasons, many are taking measures to increase their diversity and inclusion.
Alternative accommodations
Alternative accommodations are a growing trend for travelers looking for unique experiences. They are a good way to avoid overpriced hotels and resorts, and can provide a more authentic travel experience. Many alternative accommodations are affordable and great for families. They often offer more privacy and family-friendly setups than traditional hotels.
One of the key challenges facing the hospitality industry is how to better aggregate inventory and compare different lodging options. Hoteliers must adapt to the emerging alternative lodging market to stay competitive.
Cancellation policies
Cancellation policies for traveling and hotels differ slightly depending on which company you are booking with. Airlines often have flexible cancellation policies, but hotels may have more restrictive ones. It is best to check each hotel’s website to see what their policy is. Many hotels also have different policies for rebooking and long-term stays.
Whether you’re booking a hotel or airline ticket, it’s important to understand cancellation policies before making a reservation. Some hotels offer 24-hour cancellation and others offer fully refundable rates, so it’s important to understand the details of your policy before making a reservation.
Diversity in the industry
The travel and hospitality industry is one of the most diverse in the world, employing people from all backgrounds, including women and up to 30 percent youth. According to the WTTC 2020 Economic Impact Report, the industry is responsible for creating more than 330 million jobs worldwide and contributes an estimated 10.3 percent of the global GDP. The industry also creates one of every four new jobs.
A diverse workforce provides an improved customer experience for customers. In addition, providing service that is reflective of the composition of the workforce can increase occupancy and profits. In fact, a recent McKinsey report showed that companies with ethnically diverse management had higher return than their industry rivals. This trend of increased diversity in management is also evident in the hospitality industry.