Korn Ferry | Organizational Consulting The Shift from the Experience Economy to the Transforma... (thehappyprizecompany.com) From the fluidity of the experience economy to transformative experiences a

Korn Ferry | Organizational Consulting

The Shift from the Experience Economy to the Transforma... (thehappyprizecompany.com)

From the fluidity of the experience economy to transformative experiences as a catalyst for positive change: the future of experiential travel | Emerald Insight

Background Information

The experience economy is the current trend in hospitality, as far as the guest experience is concerned. The transformational economy is the next level of the experience economy and foreseen as the future of hospitality, where we see that hospitality entities are shifting focus on selling and marketing the traditional product and service concept that hotels, restaurants, and so forth have always focused on, to now focusing on the customer experience economy, and soon the experiential transformative economy.

Instructions

• Read the three short articles above that describe the experience and transformational economy.
• Define what the experience economy and the transformational economy are all about in the hospitality industry.
  • How is this overall affecting and changing the way that we would normally operate our hospitality businesses (meaning traditional hospitality businesses)?
  • How are lifestyle hospitality brands and soft brands involved in all of this?
• Suggested length: One and a half pages to two pages, double-spaced, 12-point text
• APA source citations are required (in-text and on a separate reference page).