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The impact of shifting rrom "transactional" to "emotional" loyalty programs in the hotel industry
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The purpose of this researchis to understand how loyalty programs are changing in response to the changein customer’s preferences and theirimpact in the hotel industry, more specifically in the case of NH Hotel Group. The impact on NH’svalue drivers, the share price and shareholders’ return were analyzed based on two different scenarios: one that reveals the positive impact of loyalty programs on customer retentionand other that assumes that loyalty programs have no importanceamong travelers. These scenarios were applied to the DCF model constructed for the equity research of NH Hotel Group. This investment in loyalty programs is expected to lead to a NH HotelGroup’stargetshare price in December 2020 of €6.67and net transactions with shareholders of €0.23, resulting in a total shareholders’ return of 47.5%. Having said this, the recommendation is to buy NH Hotel Group shares.
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Nh hotel group Loyalty program Generational preferences Technology