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,...
Booking.com Shares Travel Predictions for 2023
October 21, 2022
Travelers are set to make 2023 a big year for getting out and exploring the world. Excited about the year ahead, Booking.com has conducted extensive research to reveal the travel trends of 2023, including where travelers want to go, their inspirations for traveling, and how budget plays a big role in their plans. 2023 will be the year of reimagining travel As the world adapts to “the new normal” following a period of limited international travel and national lockdowns, travelers are eager to get out and see the world in earnest. As travel restrictions and Covid testing become a thing of the past, research reveals that 73% of people...
Business Opportunities: Is the Metaverse the Right Way to Go?
Dr Valentina Clergue | March 25, 2022
Maybe you are not involved in gaming and do not use virtual reality, and thus you think that the Metaverse is irrelevant for your business. Should you dismiss it completely? Maybe not. After all, most if not all of the major trends impact businesses sooner or later. It is already a necessity for companies to have a well thought digital strategy and to look for opportunities to maximize the business’s digital presence. The Metaverse could be one of these opportunities today. By Dr. Valentina Clergue Brand image: New opportunities The Metaverse is a virtual immersive environment where people can interact, play and buy...
How Digital Transformation Is Facilitating Servitization in the Hospitality Industry
EHL | October 19, 2021
Today, guests expect to be provided with a consumer-centric hotel experience from the word go, including when they are choosing a destination. They also want new experiences, faster customer service, the utmost comfort, ... and the list continues to grow. So, how can hotel operators meet these needs? An industry that is ready As various new technologies crop up and market disruptors get to their climax, businesses across various industries are faced with the need for a major overhaul. The hospitality industry is no exception. In 2020, the global hospitality market hit the $3486.77 billion mark and is forecasted to grow to $4132.5 ...
Pandemic May Allow VR to Shake Off ‘Gimmick’ Image in Tourism
GlobalData | March 5, 2021
The impact of COVID-19 may allow VR to permanently shake off its image of being a gimmick in the tourism sector. Hype behind the technology in recent years has often been greater than actual usage, especially for leisure purposes. However the longer this pandemic impacts travel for, the higher the chance that consumers and organizations adopt this technology on a more permanent basis, according to GlobalData, a leading data and analytics company. Ralph Hollister, Travel and Tourism Analyst at GlobalData, comments: “Spending considerably more time indoors with an abundance of spare time, combined with an urge to travel, has meant that asp...
Visrez Reaches 1,000 Clients Worldwide
Visrez | March 2, 2020
Visrez, the hospitality industry’s leading provider of 3D Visualisation tools has scaled to serve one thousand clients worldwide. The Dublin, Ireland based company provides a 3D alternative to on-site photography and its’ products include 3D Floor Plans, Virtual Reality, 3D Event Diagramming and Interactive Maps. Visrez has solved the problem of how to capture visual assets on-site and the company is widely regarded as one of the finest innovations of its’ kind. Traditional hotel or venue photo-shoots require planning, preparation and room block outs. Working with Visrez means no site visits, room set-ups or photo-shoots requi...
Virtual Reality – The Next Game Changer for Hotels
Chamberlin Public Relations | August 1, 2018
Virtual reality has quickly gone from niche to ubiquitous in the travel sector, with professionals in every facet of the industry finding a purpose for the technology. Two uses stand out for the hospitality industry — attracting guests to a hotel or destination, and keeping them engaged once they're there. Hotels across the country have already invested in VR, and guests are learning to expect a high-tech experience both before and during their stays. Here are a few ways hotels are already taking advantage of virtual reality to get heads in beds. Virtual Guests, Real Bookings Virtual reality can give potential guests a taste of a ...
VR or AR? Will the Hotel Industry Really Cozy Up to Either One?
Andrew Sanders | December 14, 2017
By Andrew Sanders Virtual reality (VR) or augmented reality (AR)? This is the question. The hotel and travel industry is at a pivotal time regarding technological innovation and how it may impact the future. Do travelers want an immersive experience that they can enjoy from their living room? Alternatively, do they want to be educated and informed while on vacation? While AR and VR have a lot in common, they could also lead us down totally different paths. Augmented reality is a synthetic, computer simulated reality or recreation of a real-time environment where a user can interact with the replicated real environments, whereas virtual ...
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