GDPR - Market Opportunities, Trends in Hotel, Travel, and Leisure Industry
The General Data Protection Regulation (GDPR) of the European Council, was launched on 14th April 2016 and became effective on 25th May 2018. GDPR was implemented to prevent the misuse of customer data. The data protection law had been standardized across 28 European countries to control personally identifiable information (PII).
The current report takes through the impact of GDPR and its market opportunities, the latest trends and impact of marketing individualization on hotel, travel and leisure industry, GDPR impact on revenue and marketing. The report goes on to elucidate further the trends in email marketing, use of marketing automation, effects of GDPR, marketing strategies of successful hotels, and so on.
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Scope of the Report
Organizations and companies that operate in the EU or providing goods and services to the EU must abide by the GDPR, which became effective on May 25, 2018. The law applies to all travel and tour companies, hotels, inns, motels, clubs, automobile rental agencies, bed-and-breakfast, and all hospitality groups. The regulation protects the personal data of consumers currently residing in the EU and EU residents traveling to other nations. Hence, in case hotels and hospitality in other geographic locations have guests from the EU, they are subjected to comply with the GDPR.
Irrespective of the headquarters, organizations operating or having an EU-customer base, must comply to the GDPR. They are susceptible to appoint a representative within the organization to supervise the compliance of the GDPR requirements.
According to the regulation, companies must be transparent while collecting, storing, and sharing data of their customers. Failing to comply with the GDPR will result in the hefty imposition of 20 million Euro or 4 percent of the annual turnover, the greater amount would be considered.
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Report Core Objective
The report aims to explicate the impact of GDPR on hotel, travel, and leisure industry in the global scenario. It analyzes the market opportunity of GDPR, its impact on the revenue and marketing, the channels of communication with customers in the hotel industry, email marketing, and its trends, online travel agency (OTA) booking data, marketing automation.
The report further discusses the effects of GDPR in terms of change in relationship with the customers, how hotels are using customer data to connect with customers and increase the revenue, the marketing strategies of successful hotels in the GDPR era.
GDPR empowers the consumers with the new powers and rights related to the usage of their personal data by the organizations. The consent of the user plays an important role, given that the user has all the rights to withdraw the consent. The GDPR grants customers the transparency and control to rein over the data they are sharing. The regulation also implies that the organizations would work more responsibly towards the data and protect them from living up to the trust of their customers.
The Research Optimusteam is proficient in conducting risk analysis reports. With substantial experience in market research for hospitality, hotel and travel industry and thorough understanding of the GDPR rules and regulations, the experts are adept in assisting hoteliers of all sizes in complying with the GDPR and avoid the risk of non-compliance.
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