Unforgettable Value Beyond Price

Recently, a comment on LinkedIn caught my attention, raising a point that, while seemingly simple, addresses a complexity inherent to our industry. The comment suggested that charging for subscriptions to publications such as this one provides no real value. This prompted me to reflect deeply on the concept of value in hospitality—a topic that, although widely discussed, always offers new layers of understanding and application. Value, especially in the context of such personal services and such subjective experiences as those offered by the hotel industry, is a dynamic and multifaceted concept. What constitutes value for one person may be entirely different for another, depending on their expectations, previous experiences and what they are seeking from their stay. This diversity in the perception of value makes it a constant challenge for us, hospitality professionals, not only to identify and understand what our guests value, but also how we can deliver it consistently and profitably. Criticism of content monetisation, as in the case of subscriptions to specialist publications, opens up a relevant debate about how value is created, communicated and, most importantly, perceived. In an era where content is abundant and access to information is easier than ever, the decision to charge for specific content may be seen as a barrier or, from another perspective, as an indication of the distinctive, specialised value being offered. That comment on LinkedIn inspired me to write this post, not merely as a response, but as a deeper exploration of the principle that underpins our industry: value has a price, and if it does not, we stop valuing what we offer. It is an invitation to reflect on how we define, build and communicate value in hospitality, recognising that every decision concerning value directly affects our guests’ perception and satisfaction. This dialogue about value and its price is essential not only to understand the initial criticism, but also to explore how we can continue raising the standards of what we offer, ensuring that every element of our proposition is aligned with the expectations and needs of those who choose us. The perception of value has become a crucial currency. We often find ourselves at the crossroads of determining the right price for the services we offer, a dilemma that goes beyond simple financial calculations. It is about deeply understanding what our guests value and how our offering aligns with those expectations. This understanding of value, however, is not static. It evolves with market trends, consumer preferences and technological advances. Within this dynamism, the phrase "value has a price, and if it does not, we stop valuing what we offer" resonates with particular force. It is not simply about assigning a number to our services, but about ensuring that every aspect of the guest experience is imbued with perceived value that justifies that price. The key, then, lies in value creation. But how can we, as hoteliers, ensure that we are not only maintaining but also elevating this value in such a saturated market? The answer lies in continuous innovation, a deep understanding of the customer and agile adaptation to market changes. Here, I would like to share some reflections and strategies that I have found crucial on the path to hospitality excellence.

Innovation and Personalisation: Keys to Value Creation

Innovation is not simply about adopting the latest technology or following the newest interior design trend. At its core, it is about understanding what our guests want, sometimes even before they know it themselves. This requires active listening and constant observation of guest behaviour. Personalisation, for example, has proven to be a critical differentiator. A Deloitte study found that more than 50% of travellers value personalisation in hospitality services. This is not merely a figure; it is a clear indication of where our attention should be directed.

Sustainability: More Than a Trend, an Expectation

In a world that is increasingly aware of environmental impact, sustainability has evolved from a ‘good practice’ into a fundamental consumer expectation. Adopting sustainable practices is not only good for the planet, but also for business, creating strong emotional value for guests. According to a Booking.com report, 73% of global travellers prefer to stay in eco-friendly accommodation at least once.

Experience Over Product

In hospitality, the product is not merely the room, breakfast or facilities; it is the complete experience. That experience must be consistent, high-quality and memorable. Every guest touchpoint is an opportunity to exceed their expectations and create an emotional connection with the brand. As Maya Angelou said, "People will forget what you said, people will forget what you did, but people will never forget how you made them feel."

Technology as an Enabler

Technology should be viewed as an enabler of experiences, not an end in itself. The technology solutions we choose to implement must enhance operational efficiency, personalise the guest experience and, ultimately, add value to every aspect of the stay. From mobile check-in to smart rooms, technology can be a powerful ally in value creation. As hospitality professionals, our aim must always be to exceed the expectations of our guests, creating unforgettable experiences that justify every penny of their investment. Let us remember that “In hospitality excellence, the price is forgotten, but the value is remembered.” This is the compass that should guide every decision, every innovation and every interaction. At the end of the day, true value lies not in the price, but in the richness of the experiences we offer. The challenge lies in balancing the equation between costs and perceptions, between prices and experiences. It is not an easy task, but it is precisely within this challenge that the beauty of our industry lies. It offers us the opportunity to be creative, innovative and, above all, human in our approach to service. On this path towards excellence, we are not merely selling stays; we are creating memories, building relationships and, most importantly, learning every day to become better at what we do.