Five Ways Hospitality Businesses in Malaysia can Attract New Customers

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Each year, the global traveler pool is flooded with millions of new consumers from both emerging and developed markets, many with rising disposable incomes and a newfound ability to experience the world. 

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Five Ways Hospitality Businesses in Malaysia can Attract New CustomersIn fact, travel and tourism is one of the world's fastest-growing sectors. Bookings hit close to $1.6 trillion in 2017, driven by factors such as decreasing airline fares, a healthy market for corporate travel and a growing demand for experiences rather than just products. 

As one of the most visited countries in the world , Malaysia offers something different which is comprised of many races, ethnicity, and cultures. According to Malaysia's Tourism Data, there were 25.95 million arrivals and RM 82.1 billion receipts in 2017, and the government has already projected this will reach 33.1 million arrivals by the end of 2018.  

Tourism in Malaysia has also been identified as one of the 12 National Key Economic Areas (NKEAs) that will have major contributions to the nation's economic success according to Malaysian Investment Development Authority (MIDA)

Nonetheless, hospitality businesses are not finding it easy. Growing competition and a need to keep efficiencies up means hotels, restaurants and other hospitality firms are up against a multitude of challenges. Here's how they can attract new customers in this complex landscape:

  1. Know your customers
    In a world where consumers have more choice than ever before, personalization has never been more important. Businesses today must be able to deliver a personal experience to each and every customer that walks through their door, by using the data they collect, to generate insights and help shape the customer experience.
  2. Stay on trend
    Related to personalization, it is also important that hotels and restaurants are able to respond to changing customer preferences. From regional differences, to wider social crazes, and optimizing services for different times of the year, using data analytics to keep on track of customer trends is vital.
  3. Make the experience local (regularity challenges)
    Over the coming months and years, hospitality businesses will increasingly find themselves having to think global, yet act local. This involve a combination of optimizing day-to-day operations and looking at the bigger picture to identify new opportunities. In both instances, software will be a key component.
  4. Manage the supply chain effectively
    Expenses such as food costs can be highly dynamic, depending on a range of factors such as the availability of ingredients, currency fluctuations and changes to shipping costs. Analyzing these trends in real-time is therefore essential to managing the supply chain and improving cost-efficiencies. 
  5. Embrace IoT technologies
    The Internet of Things (IoT) is set to play a key role in transforming the hospitality sector. By using connected devices to change how they gather data, and how they engage with users, businesses can make services more intelligent and improve the customer experience they offer. Perhaps the most obvious example is in-room connected thermostats, but the full range of possibilities is practically limitless.

Enterprise resource planning (ERP) solutions can play a crucial role in all five of these areas when preparing for growth. Allowing Malaysian hospitality businesses to work in a smarter, more efficient way, enabling them to innovate with technology while also keeping costs under control.

Enterprise resource planning (ERP) solutions can play a crucial role in addressing all five of these areas. They can enable hospitality businesses in Malaysia to work in a smarter, more efficient way, enabling them to innovate with technology while also keeping costs under control. For example, one of the major players in the hotel industry, Hotel Indonesia Kempinski, transformed their operations by using technology to better streamline business process and enable growth. By embracing technology such as ERP solutions, Malaysia businesses can lead the way in providing an excellent customer service, attracting new customers and ultimately grow their businesses.

1World Tourism Organization Tourism Highlight 2017 Edition

 Vincent Tang Regional VP Epicor Asia_ Vincent Tang is the regional vice president at Epicor Asia. Connect with Vincent on LinkedIn.

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