everyone loves to enjoy an exceptional food & beverage experience in a well operated restaurant, nice retail shop (for food & beverages) or to stay in a good managed hotel.
I would like to discuss/ research with you on the hospitality industry - and how business model innovation will have to power to influence the hospitality industry in a positive and customer-oriented way:
Restaurants (from owner-operated to chains)
Hotels (from owner-operated to chains)
Retail (for/ with food & beverages)
Service Provider (to the hospitality industry)
Other (where hospitality is a key success factor)
Looking forward to hearing from your thoughts, ideas, inspirations, patterns and examples.
Dear Erik, an exciting example of business model innovation in the hotel industry is CitizenM, which originated in Amsterdam. Patrick van der Pijl (who is also on the Hub) is working on visualizing it.
That’s very interesting topic.
There is no doubt that hotels generally operate in an extremely competitive environment, making the need for differentiation a priority if commoditization is to be avoided. In this crowded marketplace there are some companies who are developing genuinely unique services in the face of changing customer demands. Some companies are more successful than others in creating new customer value propositions through business model innovation.
IIG is recently working on Business Model Report : Hotel Industry, this report examines hotels around the world used by consumers for business and leisure. By examining specific aspects of hotel innovation and by comparing the business model timelines of successful companies, this report aims to draw conclusions and parallels that can help to shape the future of hotel innovation in organizations that are falling behind.
Please let me know if you would like to know more about our work, you can also subscribe to our Business Model Review Newsletter ( http://www.iigglobal.com/subscribe.html ) each two weeks we show few cases of innovative business models and this week we will show some examples from Hotels sector.
There have been many business model innovations in restaurants. Some great examples include
- drive thru's which in some cases ended up as the main channel of business driven by consumer preference
- fast casual which provided something better in a convenient location again driven by preference, and
- think global act local, which has allowed a very limited group of chains to take their brands accross borders
So where are the next massive innovations coming from. They are likely happening right now and may not be where people think of. This I would like to hear more on!
Lets summarize again then the innovation patterns all which are consumer driven / meet a very large unmet need:
- Drive Thru Restaurant - process innovation
- Fast Casual - disruptive innovation (stripping out full service features guests do not value at certain occasions)
Think Global Act Local - adaptive innovation (adapting a business model to local market needs and income levels)
Interactive Service - process innovation
Lets go back to Inamo then. What a brilliant innovation. Who else is making huge strides?
These are brilliant. McDonalds is currently updating its locations in Canada based on what I believe to be the models developed and tested in Europe. The interiors in particular are highly innovative and speak very much to their way of Acting Local.
One big message in this brand I think is that you can be very innovative in your business model while building on your core value proposition no matter how big you are and no matter how much you have invested in your legacy and heritage.
We will continue to see this company innovating, finding ways to re-invent the value model like they are doing in coffee today.