Try Staycation This Season

Considering travelling to a cold place, an icy mountain, a tropical resort, an island in the middle of nowhere for a holiday? This season, try STAYCATION. What’s that you ask? Read on and find out.  

Staycation also referred to as Holistay is a portmanteau of "stay" and "holiday". Simply stated, it is a time when a family or an individual stays at home sleeping in their own homes, but do indulge in leisure activities within driving distance. So is this a new trend; no not exactly, staycation had become popular during the recession times when families were forced to forego their holidays because of the economic crisis. It became popular during 2007 – 2010 during the financial crisis and in the UK in 2009 as a weak pound made overseas holidays significantly more expensive. The trend is catching up again similarly like another new trend that now is catching up is going back to the roots, where hotels are not actually selling luxury to lure the guests; it’s the rustic charm, which is attracting guests.

What has led to a marginal rise in this segment? So, when an individual or family actually goes for a vacation, there is a lot of planning that is cumbersome to many and also there are issues like unpredictable exchange rates, visa regulations and political instability that contribute to reluctance in travelling abroad. A personal observation is also that for many the reason for taking a break is …RELAXATION. But, how many of us do actually achieve this. In some cases we are busier than our normal working days. This however doesn’t lessen their itchy feet, and has led to an increase in “staycations” – which are vacations nearer to home. It is also a great way of exploring domestic tourism.

There is a misconstruction among many that travel is only valuable if you travel to other countries to see new cultures and foreign lands, but this is not true domestic travel can be just as much of a special experience as international travel. Domestic travel can be an enlightening and rejuvenating experience for those who cannot afford overseas travel.

So, what can one do to maximize a Staycation:

·         Visit a local museums

·         Arrange for a beach/pool party

·         Go biking

·         Catch up on a movie

·         See a play

·         Go shopping: women would love this while men would detest

·         Catch up on sleep, hammock sound really relaxing

·         Read a book

·         Explore on a leisure activity

·         Go to an adventure park

·         Take a mini cruise

·         Participate in environment conservation activites

·         Read a book

·         Indulge in wellness( Spa, Tai-Chi)

The trick is to deviate from daily routines and truly make it a vacation. Do things that you would do during a vacation, don’t do the regular household chores. Remember that though you are at home…but you are on a vacation. 

By:

Ms. Bindu Menon,

Sr. Faulty, INLEAD

Wellness industry: a new dimension

Health according to WHO is defined as “a state of complete physical, mental, and social well-being and not merely the absence of disease or infirmity”. That’s why this industry is not just limited to providing medical services and remedial care. The primary market for these segments is consumers in the age bracket of 25-35 years, with financial independence and disposable income.

So is the term “wellness” being overused, is it just a fad or being hyped? It comes across as an industry that has not been explored or mostly not used in its appropriate context. Wellness is accomplishing one’s full latent; it is self-directed and an ever-evolving process. There are seven dimensions to wellness: occupational, spiritual, intellectual, emotional, environmental and physical. Wellness is more than just products that are designed to make us feel good or be physically fit.

So what exactly does the wellness industry include? The industry includes spas, slimming & fitness sectors, salon and cosmetic therapy services, alternate therapies among others. People today are very conscious of how they look and feel, also it comes across as an ideal retreat from a chaotic day. While they are mainly enrichment needs, it also focusses on being therapeutic, which is required to maintain a aseptic and fit lifestyle. From spas to slimming centers to non-invasive surgery procedures, there is an entire array of services that the wellness industry can offer. These industries have flourished by taking advantage of ancient Indian therapies like yoga, meditation, Ayurveda etc. Thanks to the growing popularity of the wellness industry, it has fuelled the tourism industry in India.

Hotels too are wooing their guests through wellness. Most of the hotels irrespective of the fact whether its business or leisure is focusing on this segment. The hotels today either have their own signature spa brands or have outsourced the requirement to private spas. Irrespective of the formats hotels ensure that they have few components related to the wellness industry made available for the guest.

While the industry has the potential to boom in future, challenging path lies ahead. The biggest blockade is the lack of trained personnel for this sector.  The Indian wellness industry has seen changes, while the guests have become fully aware of the wellness needs; many spa schools have also opened across the country resulting in trained and skilled man power.  To hire quality manpower is the main issue, sadly most professional in India are by chance and not by choice.
The lifestyle that most of have nowadays wellness is a necessity and not a luxury. It promises to bring lot of positive changes not just physically, mentally as well as emotionally.

- Ms. Bindu Menon
  Sr. Faculty, INLEAD

No frills: are economy hotels taking the center stage today?

Travelling has become a global phenomenon and has contributed to the rise of economy/budget hotels globally. The growing popularity of budget accommodation brands have led to many of the luxury brands including the same in their brand portfolio. The budget brands offer value, ease and suppleness within the realms of affordability. It’s an understood fact that economic liberalization is gaining momentum and with that business travel has increased in leaps and bounds. While there’s a rise in the disposable income of the middle income groups, the interest within the same segment for travel has also contributed to the upsurge of economy sized hotel.

It's not only airlines which are cashing in on the 'no-frills' model but hotels as well. According to the Indian Association of Tour Operator's (IATO), in India, there are around 1,285 budget hotels with a 51,000 room keys. Owing to the growing response, hospitality players are now intensifying their operations in the budget category.

According to HVS International, a hotel consultancy, economy/ budget hotels have great prospective across the country. What works better or could be considered successful would if the hotel has a brand affiliation or a unique USP to survive. Queries for branded budget hotel in India are growing by 179% year on year as compared to just 36% year on year growth in standalone budget hotel queries.  Budget hotel queries already account for 35% of total accommodation searches and a large share of 47% of search queries are for the brands providing budget hotel inventory online.

So, does staying at budget/economy hotels mean that one has to compromise on quality; of course not the hotels cut out on certain services, but not at the cost of quality. Budget hotels scale down certain non-essential services to reduce cost. One of the reasons for this sudden demand is the demand for accommodation in tier I, II and III cities and also their low operational cost. No frills hotels are for those who look for clean rooms, comfortable surroundings and hygienic washrooms. They also offer the regulars such as laundry, Wi-Fi, multi cuisine restaurants etc. other facilities or services required will be provided at extra cost. They attract students, business traveler, corporate on a slab system and at times airlines. They are quite popular in the domestic market and also have a demand from inbound traffic too.

Budget hotels have a promising market, but needs to focus more on a quality and personalization driven approach. The hotels to a large extent are able to achieve this because they have lesser number of rooms which helps them offer personalized services. Getting guest feedback will also help in improvising on service standards. Branded hotels or chain segments in this category are able to also generate brand loyalty and repeat business.

- Ms. Bindu Menon, Sr. Faculty, INLEAD