Global Hospitality Industry Explores Brave New Metaverse
The coronavirus pandemic undoubtedly accelerated the adoption of technology in the hospitality industry in the world of tech and the ever-expanding Metaverse.
The Metaverse came into the spotlight this past year, changing the idea of how people use the internet. And while this futuristic digital world is still developing, it is already changing the way we live our lives, opening a whole new world of opportunities for businesses.
But to fully understand the phenomenon, it is important to first understand exactly what is meant by the term Metaverse. The Metaverse is essentially a network of digital spaces in which people can have enriched interactions.
In many cases, users explore this new interactive and virtual world through the use of an avatar; but as virtual reality and augmented devices become more advanced, these online experiences become more “real,” eventually blurring the boundaries between the physical and digital worlds.
Instead of just viewing digital content, inhabitants in the Metaverse are able to immerse themselves complete and experience it firsthand.
Building an alternate reality is definitely a challenge for those seeking to attract customers, investors or suppliers, but this world is already promising a new stream of profit for many businesses.
The defining aspect of the Metaverse is the creation of an interactive space, where companies are able to gain access to new markets. In fact, many businesses have already begun to explore new ways to will introduce themselves into this unphysical realm.
Included in the viable concepts that may excel in this digital world is the hospitality industry, which was very badly compromised during the two years of covid-19 lockdowns and restrictions.
So how can hospitality benefit from the Metaverse?
By definition, hospitality is entirely based on customer experience, but a major challenge in the industry is striving to exceed guest expectations. And the Metaverse has the potential to redefine guest experiences.
From allowing clients to immerse themselves into products that are being offered, to a seamless booking process, there are countless ways that hospitality providers can optimize customer interaction.
On the old World Wide Web, users could browse online to search through restaurant and accommodation options with photos and reviews as a reference. But imagine sitting at home dreaming of a holiday, plugging in and appearing in a virtual reality of the proposed destination.
In the Metaverse, businesses will be able to provide a 3D tour of the physical space, allowing guests to walk through the venue, gaining a firsthand experience of the atmosphere and amenities that are provided. Consequently, guests will be better understand essential information about the accommodations they want to book.
This is something that they would never be able to conceptualize from a photo. In the Metaverse, they have a hands-on sense of the size and feel of the facilities. They will be able to see how a meal is prepared at a restaurant of choice, what the lobby of their hotel is like in three dimensions or take in the view of a possible buggy tour of the neighborhood.
Traditionally, the hospitality industry has been associated with the physical reception of guests. But through blockchain technology, this process can be streamlined, allowing businesses to process payments quickly while clients avoid fees associated with normal international transactions.
The Metaverse offers a whole new option for connection between the digital and physical, eliminating borders for consumers. Companies are now able to offer unique experiences that customers can enjoy from the comfort of their own homes.
It has the power to alter consumers’ perception before they buy and makes it easier for them to pay for those experiences that they want to take to the next level of real life.