hotel trends
Will 2024 Go Up, Down or Sideways for Hoteliers?
Robert Rauch | March 6, 2024
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2023: A Year of New Challenges and Opportunities for Hoteliers
Joseph Pierce | December 20, 2023
By Joseph Pierce, MAI The hotel industry has moved on from many challenges that have plagued it since the COVID-19 pandemic, but new challenges and opportunities have presented themselves in 2023. Carrying on from 2022, markets continue to deal with the highest cost of debt in decades, but the fear of a recession has receded, and the possibility of a “soft landing” from 40-year high inflation growth may be a reality. The industry remains flexible to the needs and desires of guests and continues to pivot to meet the challenges of the future. H&LA’s consultants have worked on many assignments in 2023, bringing with them the oppo...
10 Hotel Trends to Watch in 2024
Pedro Colaco | December 15, 2023
By Pedro Colaco In the aftermath of a robust resurgence in the travel industry throughout 2023, hotels are gearing up for a transformative 2024, marked by shifting consumer preferences and the rise of cutting-edge technologies to help hotels address increasingly complex consumer and operational demands. This article explores the top 10 trends poised to redefine hotels and the wider travel and hospitality landscape in the coming year. 10 Hotel Trends to Watch in 2024 As we gear up for the new year, we foresee that a number of trends that arose in 2023 will continue to be critical for hotels in 2024. Hotels will continue to prioritize sus...
Top 10 Trends for the Hospitality Industry in 2024
Robert Rauch | December 11, 2023
By Robert Rauch The hospitality industry transformed in 2023, driven by technological advancements and evolving guest demands. We'll explore the ten emerging trends for 2024 in the hospitality industry. Artificial Intelligence AI in the hospitality industry will enhance revenue management, menu development, employee and guest education, marketing, sales, and more. We are at the very beginning of this exciting technology that comes with some cautions ahead--cybercrime and terrorism for starters. This technology is growing 10 times faster than the iPhone, Android, and others when they launched circa 2007. Wellness, Fitness, and Di...
5 Tech-Driven Hospitality Trends to Expect in 2024 and Beyond
Joe Vargas | November 29, 2023
By Joe Vargas As we approach 2024, the hospitality industry’s landscape is set to undergo significant transformations characterized by increased personalization, automation, AI, and cybersecurity, just to name a few. Moreover, these advancements will not only redefine the guest experience but also push the boundaries of what is possible in the sector. The good news is that the outlook remains promising, with recent Expedia data revealing that almost half of people prioritize travel more now than they did pre-pandemic, and nearly 80% plan to embark on leisure travel into 2024. In fact, the global hotel industry is expected to reach a...
PwC: US Hospitality Directions: May 2023
PwC Hospitality Directions | May 22, 2023
Increasing economic headwinds to impact hotel performance for balance of this year and into 2024 Despite worries of recession, bank failures, and a liquidity crisis affecting the macro economy, US hotels continue to outperform expectations. In Q1 2023, US hotels exceeded Q1 2019 (pre-pandemic) RevPAR levels by 13.0 percent, based on data from STR. Room rates continue to be the primary driver in this performance recovery. While occupancy in Q1 2023 was still down 2.1 points from the same period in 2019, ADR increased 17.0 percent. Leisure travel continues to be strong, even though growth levels are slowing, and individual business travel ...
What Is New in 2023?
Robert A. Rauch, CHA | February 23, 2023
By Robert A. Rauch, CHA We are seeing a shift from sitting at home to experiencing the world. Some travelers came out in 2021, others in 2022, and everyone is finally getting out in 2023! The world was closed, now it’s completely open with the exception of China. Pent-up demand still exists today in the leisure segment and groups and business travelers will continue to increase their travel from 2022 to 2023. This will occur even if there is a recession as companies cannot grow if they do not meet. Corporate balance sheets are in good shape and while the headwinds of a slowing economy could impact some travel, 2023 will be a good, soli...
Fresh Ideas for Surviving Future Crises in the Hotel Business
EHL | November 14, 2022
The World Café was held at EHL Hospitality Business School in July 2022. The event was an opportunity to exchange ideas on the impact of past crises and future preparedness, with 50 hospitality industry practitioners, researchers and economists from Western Switzerland. It was led by Professors Emmanuel Fragniere, Roland Schegg (HES-SO Valais-Wallis), Stefano Borzillo and Augusto Hasman (EHL Hospitality Business School). In this article we present the insider highlights and fresh ideas for surviving any future crises. Crisis management preparedness: New innovation strategies 1. Empowering staff Empowering staff means taking a lo...
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