HVS Monday Musings: Hotel Industry Tapping the Metaverse

Mandeep S. Lamba | December 5, 2022

By Mandeep Lamba, Dipti Mohan The global revenue from the metaverse* is predicted to grow at a CAGR of 44% between 2022 and 2030, reaching US$1.5 trillion, and is expected to transform a number of industries around the world. Technically speaking, the metaverse is a shared interactive virtual environment where users can create virtual identities and avatars by combining various emerging technologies like virtual reality (VR), augmented reality (AR), artificial intelligence (AI), spatial computing, etc. It is a fully functional virtual environment that coexists with the actual physical world, supported by digital money, items, and assets,...