PRESS RELEASE
October 31, 2023
The MODIV Group, a global leader in professional hospitality consulting and managed services, is thrilled to release the latest traveler trends from our MODIV Mindset study. This bi-monthly global survey captures the rapidly changing preferences of travelers, providing an in-depth understanding of customer needs and expectations.
In this release, we’re highlighting the dynamically valuable world of traveler preferences.
A Deep Dive into Traveler Preferences
MODIV Mindset is engineered to provide near-real-time insights into what consumers want and need from their travel experiences. With 8 out of 10 travelers willing to spend significantly more with hospitality brands that effectively utilize their personal travel preferences, the survey provides a valuable tool for brands looking to capitalize on these insights.
Over the past year, MODIV has observed and validated key trends among the nearly 12,000 respondents we’ve engaged, representing a gender-balanced set of travelers who require lodging at least four times per year:
- The Changing Landscape of Business Travel: Business travel has seen a significant transformation, with 83% of trips now described as "relationship-focused". MODIV Mindset underscores the importance of personal experiences in business travel, with a staggering 87% of travelers seeking to incorporate personal elements into their business obligations.
- Trust Over Loyalty Programs: In a world where trust is paramount, 77% of travelers revealed that their trust in a hotel brand holds more weight than loyalty programs. MODIV Mindset offers vital insights into how brands can cultivate this trust to foster lasting relationships with their customers.
- Demystifying the Luxury Segment: As consumer definitions and expectations of luxury hotel experiences continue to evolve, MODIV Mindset helps luxury brands understand their audience better to differentiate themselves and cut through the noise.
"Our approach with MODIV Mindset is to identify patterns and trends that persist over multiple survey waves. We're not interested in the anomalies; we want to understand what travelers hope and expect in the next 6-12 months," said said Brian King, MODIV Founder & CEO. "Our results will be regularly vetted by industry experts for validation and interpretation, ensuring that we deliver commercially relevant, real-world insights."
The survey will provide agility, speed and specificity, serving as an inspirational starting point for clients to develop unique strategies. From identifying “seeker” personas to marketing and fostering relationships with modern travelers, MODIV Mindset is poised to address every aspect of consumer research needs.
An ‘Always On’ Resource for the Travel Industry
MODIV Mindset was born out of the increasing demand for personalized experiences among consumers, particularly travelers. "Modern travelers have unique needs and preferences. They want brands that get them," said King. "Understanding consumer preference is an industry-agnostic priority – and MODIV Mindset is our response for hospitality. It's a tool designed to help brands navigate traveler sentiment and deliver experiences that are individually tailored and purposed."
MODIV Mindset is a resource for travel and hospitality brands striving to understand and meet the preferences of their customers. By leveraging the insights provided by MODIV Mindset, brands can drive sustainable, long-term growth and create personalized experiences that resonate with travelers.
MODIV Mindset has already found numerous applications, from defining unique marketing strategies to building meaningful relationships with modern travelers.
"It's not about just keeping up with trends. With MODIV Mindset, we're helping our clients stay ahead of them," King added.
Click here to access the latest research from MODIV Mindset. To explore how MODIV Mindset can benefit your business, visit www.themodivgroup.com or contact us directly at hello@themodivgroup.com.
About The MODIV Group
The MODIV Group is an award-winning professional consulting and managed services firm specializing in hospitality. Our company combines deep industry and functional expertise with proprietary research and insights to uncover opportunities for our clients and deliver meaningful value within evolving global markets. We apply a consultative approach to diagnose and mobilize specialized resources focused on measurable commercial impact.
Press Contact:
Kate Pivacek
Director of Marketing