Stay The Course: Boomers Are Still Our Future

When developing my blog topic, I start to review the week’s news in my head to think of what’s new, what’s affecting our industry – and where the lines between are to be drawn. But, this week, as I was visiting www.cnn.com seeking inspiration, even I admit that I got a little discouraged. What more is there to say about AIG bonuses, Bernie Madoff and the Dow Jones’ wild ride?

I have been a big proponent of setting long-term business strategies aside in tough times (frankly, surviving the month or the quarter has been a challenge for some businesses recently – it’s hard to think long term about a five-year strategy when tomorrow’s more pressing.) However, for the purposes of this blog, I noticed that among the stories posted on Obama’s main street bailout and appearance on Jay Leno, some interesting articles were posted this week about Baby Boomers and their continued leadership in the travel category. I started, once again, to think about how hospitality designers and hoteliers can better plan for our future as the economy picks up again.  (And, it will….)

As we’ve known for some time, Boomers are more adventurous and more keen on international travel, especially as retirement nears and the time for them to take their dream vacations becomes a reality.  And, while retirement accounts have taken a beating in this recent economy, we shouldn’t count the demographic down and out just quite yet. Many Boomers have been dreaming of their trip(s) of a lifetime for decades and consider them to be just as much a part of their retirement plan as assisted living down the road. As recovery and confidence begins to settle in, their desire to travel will bounce back quickly. Moreover, many reports find that Baby Boomers are among the demographic most likely to be keeping their jobs during this recession, meaning that their confidence in bouncing back from this recession is likely higher than older demographics. Interesting, right?

The thing is, that if the Dow is any indication of our tendency for unrest and indecision in these times, when recovery does start, it will be important for all of us to stay focused as we begin our ascent from the ashes. The glamour and opulence of yesteryear that attracted the Gen Xs are often our comfort zone, but not where our industry needs to be focusing as we seek stability. That focus should center around design and offerings for the Boomer generation as that is our “lowest hanging fruit,” as, frankly, our core business opportunity as our industry recovers.

I am going to be sharing this with our designers in the coming days and hope that you, too, consider Boomers as the epicenter of our world as we go from bust to… well, BOOM.