Unlocking the Potential of the Metaverse for Hotel Event Planning?

It should not be a surprise, but let us start by introducing metaverse. The metaverse is an immersive virtual reality world that originated in science fiction. It will soon be the next evolution of the internet. Sounds exciting, right?

Investment in the metaverse space has already surpassed 2021 by more than twice, which proves we’re not alone in our desire to make this journey. McKinsey and Co estimate that the metaverse could generate $5 Trillion in value by 2030. This is a huge opportunity for all industries, not just hospitality.

The $1.25 trillion hotel and events industry is worth 33%. However, this number rises to 75% when it comes to sector-specific hotels. Here is where the potential for the metaverse can help hotel offerings.

The current inefficiencies of this industry make it hard to believe that the sector can be so valued. This is especially when you consider the disconnect nature of the workflow, outdated ways of doing business, and the environmental impact. But it is obvious that hotel events, from planning to organizing to attending and networking are long overdue for an overhaul before the system crashes.

Ambitious event planners will do anything to find the perfect venue. We are accustomed to searching for venues online and we do approximately 100 million site inspections annually.These visits rarely result in bookings, which can lead to wasted time, lost revenue and resources. This outdated system of working has to be replaced.

Hoteliers can drastically reduce the number unproductive site visits, recover lost revenue and maximize profit on their event spaces by using Web3 and its true-to life digital twins.

Hoteliers can instantly welcome guests to their venue by creating a digital duplicate of the space. It can be accessed via the metaverse. Event planners are able to view their entire list of venues online from their desks. This saves them time, money and even the planet.

Website imagery, possibly a virtual tour or 360 degree photography, is currently an alternative to visiting sites in person. However, this is not enough. Imagine greeting potential clients at your venue and asking them to walk around the space, undirected, without any guidance. You’d never do it. Why not on your website?

While some businesses have begun to use mobile devices and videoconferencing tools to bridge this gap, the process remains cumbersome and frustrating. This is why such platforms are not suitable for site inspections.

The metaverse lets hotel staff meet prospects to walk them through the venue and not just wander around unaided in a virtual space. Metaverse gives you a sense of authenticity and presence. It’s unlike any digital alternative.

A metaverse site can be reconstructed to feel exactly like it is in real life. Planners have to envision different layouts, decors and lighting. They can visualize them and see them instantly in the metaverse.

Finally, hotels are able to demonstrate the versatility and effectiveness of their venues, making it much easier to close that deal.

The hotel industry has many questions to answer when it comes sustainability. From single-use plastics to heavy laundry loads, hotels are not green by design. Businesses know that they must increase their sustainability efforts as eco-consciousness begins to affect consumer choices.

Hoteliers can turn their site visits into virtual reality, which will reduce the environmental impact of thousands of cars, trains, and flights that travel around the world. This innovative change will be a key part of reducing the industry’s environmental impact, while also allowing the industry to achieve its revenue goals.

It’s a simple business decision. In addition to reducing a hotel’s carbon footprint, metaverse site tours also reduce unnecessary costs. A site visit in person requires that the venue is heated or air-conditioned and lit. It also must be unbookable.

You can conduct a metaverse visit to show your virtual venue. However, your physical venue could thrive with real-life customers, making a profit.

The metaverse is used initially to plan events, but it also offers numerous options for attendees. Metaverse tickets give you the ability to attend events anywhere on the planet, without having to leave your house. This allows you to reduce cost and increase opportunities.

A virtual event does not have to feel inferior to its in-person counterpart thanks to the metaverse. The future will allow virtual attendees to interact as well with in-person attendees, making it possible for everyone to have a great event experience.

This allows hotels to eliminate capacity limitations and increase ticket sales by selling virtual event tickets. Additionally, Web3 technology is now possible throughout the event. These technologies will provide the hospitality industry with innovative innovations, such as smarter networking and crypto payments.

It makes good business sense, for tech heads, for business people, and for the eco-conscious, to enlist the power and wisdom of the metaverse to help with events and hotels. You can save time, money, the planet, and increase your event offerings, from planning to attending, by using the metaverse.

RendezVerse CEO Peter Gould. The platform allows prospects to enter hotel events with 360-degree tours, or full CGI digital twins. Peter is the Chairman of Worldwide Events. He was also the founder and former CEO of Great Hotels of the World. He has been an innovator in technology that makes events and meetings more efficient. Face2Face was created in 2010 by Peter, which is a revolutionary scheduling tool that facilitates one-to-one meetings.

CitizenM, a luxury hotel brand, was founded in Amsterdam at a real airport. It has since grown to 24 properties in 16 cities. It achieved this by purchasing…

Now that we’re in the “crypto Winter”, it’s time to take stock of all the promised innovations in hospitality on the blockchain, web3, and metaverse. As we both see a lot of potential in this space, we are big supporters.

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