Hotel industry 2024. The Hotel Industry at a Glance.

Hotel industry 2024 hotel industry are driving brand proliferation to attract new customers. 6% in 2024, 3. 9%). Hotel wage growth moderated to 3. As we inch closer to 2024, the landscape of restaurants and hotels is undergoing big changes. 2 as of October 2024, above 15. It is projected that by 2025, revenue will reach US$0. This essential guide explores the technology trends hoteliers must adopt to thrive in today’s competitive hospitality environment. Aug 27, 2024 · Top 10 Trends in the Hospitality Industry in 2024 EHL's MBA in Hospitality for ambitious hotel professionals 8 customer service experience trends to watch in 2024 Spa trends, treatments and Aug 29, 2024 · Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry. The average number of brands per brand family tracked by CBRE increased to 25 in 2023 from 13 in 2013. 71 billion in 2024, representing a compound annual growth rate (CAGR) of 6. Jan 3, 2025 · The pace of U. Additional tailwinds will come from a rise in international long-haul leisure travel from Asia. The hotel industry will continue to see improving conditions over 2024 to 2026, helped by ongoing government support for the industry and the annual foreign arrivals returning close to their pre-pandemic level of 38-40 million by 2025. From the widespread adoption of GenAI to the changing dynamics of customer acquisition, hoteliers are facing a landscape rich with opportunities and challenges. Each member firm of Crowe Global is a separate and independent legal entity. Mar 20, 2024 · Europe's hotel and tourism sector is poised to gain further momentum in 2024, with domestic and short-haul leisure travel remaining the primary drivers of hotel demand. 84 billion in 2025 and grow at a CAGR of 2. By Anne Lloyd-Jones. 2023 Mar 28, 2024 · As 2024 progresses, hospitality professionals are gearing up to leverage various innovations and strategies that promise to reshape customer satisfaction and industry standards. The hospitality industry is facing a cost of living crisis with steep increases in raw materials, energy, staff salaries and rent, all of which has a knock-on effect Aug 13, 2024 · By Erik Ransdell and Mike AnnunziataStrands Realty GroupAugust 13th, 2024As we progress through the second half of 2024, the U. >> Download your white paper "The guide to hotel industry trends for 2024"--- Aug 15, 2024 · To dive deeper into these hospitality technology trends and gain more insights, we recommend downloading the comprehensive “2024 Hospitality Technology Trends: Innovations Reshaping the Hotel Industry” report. Alex Slors, an industry expert, highlights how ESG, authentic local engagement, and new luxury destinations are reshaping hospitality. . 53% to reach USD 66. Dec 17, 2024 · The global hospitality market is projected to grow from $4,673. economy is projected to add 8. Overall, operating metrics shined brightly, with revenue growth achieved in most global markets, while investment activity cooled. 87% to reach USD 313. hotel occupancy rates have not fully recovered to pre-pandemic levels, averaging 63. The U. Jan 25, 2024 · Indy Adenaw, senior vice president and general manager, upscale brands, Choice Hotels. Jan 19, 2024 · As the hospitality industry continues to evolve, staying ahead of the latest trends is essential to remain competitive. Some hotel industry CEOs were appointed as part of larger company restructurings, while others were tapped to solve operational challenges and legal woes. “We’ve seen hotel stays in Canadian cities exceed pre-pandemic levels and reach Jan 5, 2024 · Read the Article At the onset of 2023, the U. 84% in industry growth over the past year. During the same period, the number of hotel users is expected to grow to 17. experienced Dec 11, 2024 · 2024 saw the emergence of some exciting new trends and opportunities. The report also forecasts the Dec 10, 2024 · Throughout 2024, hotel professionals from Choice Hotels, Hyatt, IHG and more shared what trends drove industry growth during the year. (FinancesOnline) In the United States, the hospitality industry is expected to employ 1. 3%, 0. High interest rates and elevated costs of some goods can make it difficult to update, let alone upgrade, hotels. Let’s explore some of the key hospitality industry trends that are set to redefine the industry in 2024 and beyond. Dec 6, 2023 · It’s all hands on deck in Canada’s hospitality sector. “We’ve seen hotel stays in Canadian cities exceed pre-pandemic levels and reach Sep 23, 2024 · In the dynamic and competitive landscape of the hotel industry, a comprehensive PESTEL analysis is crucial for understanding the multifaceted external factors that influence business operations and strategic planning. 1% of them. Apr 19, 2024 · The 2024 budget announcement has been perceived as disappointing by the hospitality industry due to the lack of supportive measures such as a reduction in VAT for hospitality services and the failure to reintroduce VAT-free shopping for overseas tourists. Key highlights include: July 2024 saw a year-on-year growth of over 7% in domestic air passenger traffic in India. Total average occupancy in May 2024 reached 60. 70 billion by 2030. 33 billion in 2025 and grow at a CAGR of 5. 45 billion in 2025 and grow at a CAGR of 4. The US lodging sector is expected to experience muted growth in 2025, driven by moderate increase in average daily room rates and stable occupancy levels, resulting in an annual increase in revenue per available room of 1. hotel deals grew throughout 2024 despite a slower start, and industry experts predict this growth will continue. Hospitality businesses now face the challenge of an increase of 55. hotel occupancy is a slight improvement over 2023’s level (62. While the U. Hotel Industry Forecast Summary — Source: Lodging Analytics Research & Consulting, Inc The below table illustrates a summary of LARC’s current U. Dec 16, 2024 · In 2024, travelers and technology pushed boundaries, proving that even in challenging times, innovation and adaptability can unlock new possibilities for the hospitality and travel industry. Dec 12, 2023 · The U. In this article, we highlight the most valuable leadership skills for today’s leaders and discuss how the skills modern executives learn in hospitality MBAs can travel across sectors Industry experts predict a significant surge in Jakarta's hotel sector in 2024. Our 2024 travel outlook takes a closer look at five trends expected to shape the industry this year: Suppliers find ways to touch up the travel experience. By staying ahead, businesses can deliver exceptional services while streamlining their workflows and maintaining a competitive edge. The Hospitality Industry Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. Dec 14, 2023 · Top 10 Trends for the Hospitality Industry in 2024 The hospitality industry transformed in 2023, driven by technological advancements and evolving guest demands. 9% compared to 66. ICRA has a Positive outlook on the Indian hospitality industry. Harbour Plaza Hotel Management Limited, Regal Hotels International, Marriott International Inc, InterContental Hotel Group and Dorsett Hospitality International are the major companies operating in this market. 1% in October. 7% YoY growth. Over the last six months, 86% of respondents have increased wages, 52% have offered greater Apr 15, 2024 · Overall, the top 10 global hotel groups in 2024 showcase an industry in constant motion. Ransomware. Following the unprecedented supply-and-demand fluctuations of the pandemic, companies across the sector have become acutely aware of the impact that disruptions can have on their ability to survive and the importance of adapting to frequently shifting conditions, such as Page | 3 GCC Hospitality Industry | June 11, 2024 Glossary Average Daily Rate (ADR): ADR is the average rate paid per room sold, arrived at by dividing total room revenue by number of rooms sold during a given period. 20 million in 2025 and grow at a CAGR of 6. Let’s understand what the hotel industry looks like in 2024. The Hospitality Industry in Malaysia is growing at a CAGR of greater than 6. 1% and reach US$1. 5 during the same period in 2019, and below 18. Marriott International Inc. Explore how the industry's adaptability and innovative mindset are shaping its future amid challenges and opportunities, all while keeping an eye on the latest hospitality trends Dec 11, 2024 · The hospitality industry, encompassing lodging, recreation, entertainment, food, and beverage services, witnessed rapid evolution in 2024. Jan 2, 2024 · The hospitality industry landscape is changing continuously. MAI, CRE, Director of Consulting & Valuation Services, National Practice Leader, at HVS New York Oct 3, 2024 · Hotel openings in the next several years would include projects that began from 2021 through 2024. Jan 19, 2024 · In this blog post, we'll explore the latest trends and innovations shaping the travel & hospitality industry in 2024 and beyond. Jan 10, 2024 · Key takeaway from EHL's hospitality industry trends 2024 - Crafting experiences, influencing lives, and paving the way to tomorrow. The Hotel Industry at a Glance. Learn how hotels are bouncing back and what’s driving growth this year. presidential election, a year-over-year Thanksgiving calendar shift, ongoing hurricane recovery efforts, and an extra weekend all factored into the equation as U. 1 million in August 2024, marking a year-on-year (y-o-y) growth of over 5. The global hotel industry is set for a major rebound in 2024 and 2025, moving past the impacts of the COVID-19 pandemic into a period of growth and innovation. Conversely however, hotels do have to pay these booking platforms a commission fee in return, which may threaten the hotels’ profitability if the hotels do not carefully manage their cost allocations Dec 20, 2024 · This article outlines the key hospitality technology trends shaping the industry in 2025, offering actionable insights for hoteliers and hospitality managers. If that was last year, what is on the agenda for the hotel industry in 2024? In no particular order, I’ve selected five current trends that hoteliers tend to mention when I talk to them. 43 billion. Oct 14, 2024 · During The Lodging Conference last week in Phoenix, hospitality leaders — from CEOs to brand executives to industry advisors — were overwhelmingly optimistic about the future of the hotel industry. 52 trillion the industry was worth 4 years ago, it’s still a step in the right direction. Advanced technologies like AI, IoT, and data analytics are being leveraged by leading hotel companies to enhance guest experiences and Dec 4, 2024 · The hospitality industry employs approximately 10% of the global workforce. Feb 13, 2024 · A new report from the American Hotel & Lodging Association (AHLA) found that 72 percent of the 2,202 U. Jan 20, 2024 · Weekly Insights. We collaborate with companies worldwide to design custom IT solutions, offer cutting-edge technical consultation, and seamlessly integrate business-changing systems. The final forecast revision for U. For the first time since 2019 the hotel industry is operating at full capacity, without restrictions. But the experts also mulled over obstacles the industry faces, in addition to sharing opportunities for growth across the hospitality sector. Sep 12, 2024 · A Quick Guide to the Hospitality Industry. Tourism and hospitality is one of the world’s most important industries – worth around $9. In 2023, average hotel room prices in Albania surged by 27% to 41% year-on-year (YoY) during the peak summer months of May through August. Use them to drive innovation, delight customers and capture value. hotel industry will face many headwinds to RevPAR growth in 2024, including competition from alternative lodging sources (short-term rentals, glamping, cruise lines, casinos, etc. hospitality real estate and travel sectors continue to demonstrate resilience, even as the broader economic landscape presents challenges. Meanwhile, domestic tourists are also expected to be making 200 million trips annually by 2025 The Hotels market in the United Arab Emirates is expected to experience a significant growth in revenue in the near future. ), an economic slowdown, less consumer spending and military conflicts in Europe and the Middle East. This post is crafted to offer an extensive overview of the crucial trends, challenges, and opportunities that are currently shaping Aug 13, 2024 · Investment activity is also expected to accelerate in one of the nation’s leading markets for sales volume as potential interest rate cuts are becoming more likely in 2024. Despite economic uncertainties, these sectors are holding steady, offering valuable insights for hotel owners, operators, and Dec 5, 2023 · In the dynamic world of hospitality, staying ahead of the curve is not just a goal—it’s a necessity. 44 billion by 2030. 8 million international visitors so far this year stayed in hotels, a figure that is 3% higher than pre-pandemic levels. Feb 13, 2024 · The year 2024 presents a dynamic and exciting landscape for the hotel industry, shaped by technological innovations and strategic shifts. 6%. USA Hospitality Market Report | January 2024 Horwath HTL is a member of Crowe Global, a Swiss verein. Facebook Instagram Linkedin Twitter Youtube News 2024-12-19. 1. 96% to reach USD 541. Jan 3, 2024 · In conclusion, the hospitality industry's outlook for FY 2024 promises a tapestry of innovation, sustainability, culinary delights, flexible travel trends, wellness prioritisation, personalised services through data-driven insights, AI and robotics integration, social media as an engagement catalyst, and the groundbreaking frontier of neurohospitality. In 2023, the market saw the addition of 1,706 rooms, marking a 2. economy defied expectations in the third quarter of 2023 with positive economic indicators—such as a 5. 10 Billion in 2023 and the total India Hotels revenue is expected to grow at a CAGR of 9. Jan 10, 2024 · Hotel Dive spoke with prominent leaders in the hospitality industry to find out what trends will drive the industry forward in 2024. Feb 21, 2024 · comprising 12 large hotel companies is expected to report strong operating margins of 31-33% for FY2024 and FY2025, as against 33% for FY2023 and 20-22% pre-Covid. The global hotel industry is expected to grow at 8. 17%. The effects can be devastating, with data — including sensitive trade secrets and personal data — being encrypted and The hotel industry will continue to see improving conditions over 2024 to 2026, helped by ongoing government support for the industry and the annual foreign arrivals returning close to their pre-pandemic level of 38-40 million by 2025. are still looking for signs the tide has turned. The investment market is also showing increased signs of life, as inflationary concerns are diminishing and interest rates are improving modestly. Oct 23, 2024 · This would give the hotel industry an annual growth rate of 1. Inflation has fallen, but travelers continue to feel the squeeze The UAE Hospitality Market is expected to reach USD 53. 27 trillion, 20% higher than the $1 trillion 2020 Hotel & Motel industry revenue is estimated to fall at a CAGR of 0. Hospitality is a term that covers a broad range of businesses that provide services to guests and visitors. 12% to reach USD 138. Demand for luxury tourism and hospitality is expected to grow faster than for any other segment. “2023 has been a year of recovery for the hotel sector,” says CBRE Hotels Director Nicole Nguyen. Nov 29, 2023 · In fact, by 2024, the global market for smart hotel technology is projected to reach $24. 31 December 2024. Dec 5, 2023 · As 2023 draws to a close, regional HVS leaders across the globe take a look back at how the global hotel industry fared this year and opine on the outlook for next year. The 2024 projection for U. Here are hospitality trends 2024 elevating guest satisfaction and driving business growth. Sep 3, 2024 · 2024 U. Job openings per hotel were 17. Marriott International, Hilton Worldwide, Wyndham Hotels & Resorts, InterContinental Hotels Group (IHG) and Choice Hotels International Inc. Oberoi Hotels & Resorts, The Park Hotel, ITC Hotels, Lemon Tree Hotels and Taj Hotels are the major companies operating in this market. Focus on these major players who compete in innovation and growth strategies to remain competitive in the global hotel market . 4% growth in 2024. Despite high interest rates and STR and Tourism Economics Maintain 2024-25 U. S. Hotel Industry Forecast: September 2024 Edition vs. 89% to reach USD 702. 4% to $239. Marriott International Inc, Accor SA, Hilton Worldwide Holdings Inc, Radisson Hotels and Meliá Hotels International SA are the major companies operating in this market. The investment market is expected to improve in 2024. 2 percent growth in gross domestic product, softening inflation and resiliency in the job markets—the outlook for the hospitality industry was not as positive. Feb 15, 2024 · Below are eight issues that we expect to impact the hospitality industry in 2024. This situation exemplifies a political factor in the PESTLE analysis, demonstrating how Dec 13, 2024 · In 2024, travelers and technology pushed boundaries, proving that even in challenging times, innovation and adaptability can unlock new possibilities for the hospitality and travel industry. 1% in October 2024, from 5. Dec 31, 2024 · As we step into 2025, the global hospitality industry continues to thrive, fueled by an unprecedented resurgence in face-to-face connections and collaboration. The Hospitality Industry In India is expected to reach USD 281. The top 12 hotel industry CEO appointments of 2024 Aimbridge Hospitality, the American Hotel & Lodging Association and Auberge Resorts are among the hospitality companies that tapped new leaders this year. In this blog, we’ll explore the top hotel trends for 2024 and how For-Sight can help you capitalise on these trends to future-proof your hotel business. Between 2021 and 2031, the U. Hotel Industry Outlook in Jan 2, 2025 · The Hotel industry zeitgeist of 2024 was: New trends, AI, Revenue strategy, Direct bookings and Booking dominated the headlines, but not always for the right reasons. 67 billion by 2030. According to Sophos’ “The State of Ransomware 2023” report, ransomware affected two-thirds of all organizations in 2023. Cloud computing is another technology projected to have a high adoption rate in the hospitality industry by 2024, with the global market for cloud-based property management systems (PMS) expected to reach $3. Apr 17, 2024 · CBRE Hotels prepares annual industry outlooks for the Canadian accommodation industry. The credit ratio has been Oct 8, 2024 · The 2023/24 Trends & Opportunities Report for the Indian Hospitality Industry shares the spirit of this very same message. The Canadian hotel industry saw significantly improved operating results in 2022. What you'll learn in this quarter's Georgia Hotel Industry Report: Georgia's hotel inventory; Georgia hotel room new supply; Georgia hotel room construction Dec 31, 2024 · With all but one day of 2024 now in the books, the year seems to be a unique and noteworthy one for the global hotel industry. 57 billion by 2030. 70 billion in 2025 and grow at a CAGR of 8. The top 5 hotel industry trends for 2024. 42 billion in 2025 and grow at a CAGR of 4. Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts. 22. They shared insights into hotel workforce management, development, changing traveler behavior, generative AI, hotel sustainability and more. 45bn and exhibit The top 12 hotel industry CEO appointments of 2024 Aimbridge Hospitality, the American Hotel & Lodging Association and Auberge Resorts are among the hospitality companies that tapped new leaders this year. The fiscal year (April 2023 – March 2024) had two clear, yet distinct memos for you. Aug 21, 2024 · 21. Event tourism was a significant source of revenue for hospitality in the past year, with events such as Taylor Swift’s Eras Tour and the Paris Olympics attracting massive crowds. 46 billion. As highlighted earlier, the Balkans hosted some of Europe’s best-performing hotel markets in 2024, though Albania stood out as a notable exception. The Hospitality Industry In China is expected to reach USD 93. 46% to reach USD 69. From hospitality technology to sustainability— the choices around them are never-ending. The India Hotels Market size was valued at USD 32. are the major companies operating in this market. Unionization: Unions, which are organizations that act on behalf of member employees to resolve legal conflicts or defend employee benefits, aren’t new to the hotel industry, but their relationships with hotel chains and rate of collection action, such as strikes, continue to evolve. 7 million more overseas visitors Sep 25, 2024 · Mark YounadamSeasoned Hotel Real Estate and Business Development Leader | Expert in Brand Expansion & Asset Portfolio GrowthJanuary 17, 2024Welcome to our in-depth examination of "Hotel Development Trends 2024," a comprehensive guide to the hospitality industry. Aug 23, 2024 · EHL Insights have compiled 36 hospitality industry statistics you need to know in 2024. (The Business Research Oct 31, 2024 · View from the top: Hospitality CEOs give their industry outlooks By Jenna Walters • Oct. Dec 3, 2024 · December 2024 U. This growth is being powered in part by a large and expanding base of aspiring luxury travelers with net worths between $100,000 and $1 million, many of whom are younger and increasingly willing to spend larger shares of their wealth on upscale travel options. hotel growth in 2024 shows downgraded projections for average daily rate (ADR), revenue per available room (RevPAR), and occupancy. Hotel Horizons by PwC – Examines the global hotel industry from 2023 to 2027, focusing on key trends, drivers, and challenges. lodging market appears to have entered a period of relative stability, with changes in both metrics more subdued than in the recent past. 4% shy of 2019’s recorded level (65. 7% over the next 5 years. Dec 8, 2023 · The Philippine hospitality industry ends 2023 on a positive note with key hotel performance indicators such as room occupancy and room revenues markedly improving over the last three years. The UK Hospitality Industry is expected to reach USD 58. 87 billion by 2030. Additional rate cuts are anticipated in 2025, which could spur future hotel investment, Global Head of JLL Hotels Research Zach Demuth told Hotel Dive. Cloud-based property Nov 11, 2024 · As the hospitality industry embraces the challenges and opportunities of 2024, technology stands as a key driver in delivering seamless hotel experiences. Brand awareness 9 Premium Statistic American Customer Satisfaction Index for U. Hotel wage growth slowed to 3. Whitbread Group, InterContinental Hotels Group, Travelodge, Accor SA and Marriott International, Inc are the major companies operating in this market. Dec 28, 2023 · Given the positive outlook for the travel and hotel industry in 2024, here's how hotels are likely to react based on the mentioned predictions: Welcoming Increased Demand: Hotels will likely express enthusiasm and relief as the market expands. In today’s hospitality landscape, it is difficult to confine ourselves to an annual update. 5 a year ago. Dr Dimitrios Diamantis, Executive Academic Dean at Les Roches, draws upon two decades of industry-focused research experience to capture the key hospitality trends coming in 2024. 9, 2024 Hospitality industry leaders from AAHOA, Extended Stay America, Peachtree Group and JLL are optimistic, despite possible regulatory hurdles. A higher interest rate environment has made strategic acquisitions and recapitalizations more challenging for owners and investors as they 4 days ago · Topics › ; Hospitality › ; Trends; Top 10 trends in the hospitality industry in 2024. lodging companies 2008-2024, by company Basic Statistic Most well-known hotel brands in the United States 2023 6 days ago · Rate cuts in the fourth quarter of 2024 have “been really positive so far” for hotel investment, Greg Perry, vice president of hospitality investments at RREAF Holdings, told Hotel Dive. hotel industry sought signs of normalization. 8%) and a significant improvement over 2020’s historic low (43. It The Hospitality Industry In Sri Lanka is expected to reach USD 503. The report indicates a slight decrease of 0. Jul 4, 2024 · Annual car sales worldwide 2010-2023, with a forecast for 2024; Monthly container freight rate index worldwide 2023-2024; Automotive manufacturers' estimated market share in the U. 2% in operating costs, with industry groups lobbying the government for extra financial support for the industry. Looking ahead, from 2023 to 2025, the hotel supply is forecasted to grow at an annual rate of 2. Integrating innovations like contactless check-in ( Why hotels must offer online check-in ) and digital room keys simplifies guest arrival and access, responding to rising expectations for Dec 25, 2024 · In 2024, U. Trends and Insights Pent-up desire to travel skyrocketed demand for accommodation. 2025 Industry Our National Hotel Industry Report – Fall 2024 provides a comprehensive overview of key fundamentals and supporting trends to assist you in navigating these dynamic changes in today’s market. U. Jan 25, 2024 · Although the broader U. 5% in November. This blog post explores Dec 4, 2023 · As 2023 ends, regional HVS leaders across the globe take a look back at how the global hotel industry fared this year. 43% to reach USD 1. revenue per available room (RevPAR) increased 2. And with so many evolving hospitality trends for 2024, it can be very confusing. Hospitality Industry in Germany Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030) Germany Hospitality Industry Report Covers Tourism Companies and the Market is segmented by Type (Chain Hotels and Independent Hotels) and Segment (Service Apartments, Budget and Economy Hotels, Mid- and Upper Mid-scale Hotels, and Luxury Hotels). Dec 11, 2024 · 2024 has been a crucial year for the hotel industry, with prominent trends such as digitalization, sustainability, and experiential tourism, along with chall Expert industry market research on the Hotels and Resorts in Australia (2014-2029). 5, 2024) – As more than two thirds of hotels continue to experience staffing shortages, hoteliers are offering more pay and a host of incentives in order to attract and retain talent, according to a new survey conducted by the American Hotel & Lodging Association (AHLA). 7%. 23 million per year. Meanwhile, domestic tourists are also expected to be making 200 million trips annually by 2025 Start the Conversation. onurdongel via Getty Images Throughout 2024, Hotel Dive sat down with some of the top leaders in hospitality — from hotel company development heads and chief marketing officers to brand executives and CEOs. The elevated construction costs and limited financing availability for new construction that characterized these years raised the bar for project feasibility, with the result that supply growth is expected to remain well below historical norms for Sep 27, 2024 · Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry. July The US Hospitality Market is expected to reach USD 247. ” Feb 5, 2024 · WASHINGTON (Feb. 0 billion over the five years through 2024, including 3. Marriott International Inc, Hilton Worldwide Holdings Inc, Jumeirah Group, Emaar Hospitality Group and DAMAC Properties are the major companies operating in this market. Hospitality Industry Trends (Page 16) 5 Shifting Landscape of Hotel 6 Management Model (Page 21) MARC’s Industry Forecast (Page 23) 7 Hotel Industry Overview (Page 11) 4 Financial Analysis (Page 25) 8 Industry Overview, Segment of Hotels Industry Growth, Growth Drivers Tourism Statistics, Leading States in Tourism Aug 27, 2024 · Secondly, online booking platforms are also able to facilitate guest bookings for hotels, reducing the hotels’ operating costs (Sheng, 2024). On the other hand, the industry could potentially benefit from roughly 4. 2021, 2022, 2023 and 2024. Shangri-La Hotels and Resorts, Mariott International, Inc, Amaya Resorts & Spa, Cinnamon Hotels & Resorts and InterContinental Hotels & Resorts are the major companies operating in this market. 8%). All data represents calendar year 2023 performance. Sep 23, 2024 · Key takeaway from EHL's hospitality industry trends 2024 - Crafting experiences, influencing lives, and paving the way to tomorrow In today’s hospitality landscape, it is difficult to confine Jan 30, 2024 · Hotel industry forecast 2024: development, F&B, technology and more Leaders in the hospitality industry shared with Hotel Dive what trends will drive progress at hotels this year, impacting everything from on-site amenities to hotel workforce management. Experiential tourism goes from strength to strength Based on an exclusive survey of HR professionals at hotels and resorts nationwide, The Future of Hospitality Hiring 2024 outlines current hiring trends in the hospitality industry and provides a roadmap for filling essential roles with better talent faster. The industry is Fiery HOT! However, this is precisely why what we do from here on must be handled with the utmost care. June 2024 Edition — Source: Lodging Analytics Research & Consulting, Inc Note that the vast majority of our outlook change was 2024 Malaysia Hotel Industry Survey of Operations Published: August 2024. The experience is becoming everything Oct 8, 2024 · Discover the latest hotel statistics and trends for 2024, from rising room demand to the impact of AI, bleisure travel, and sustainability on the hospitality industry. hotel industry refused to face a sobering reality in September 2024 Hotel Industry Outlook: Anticipating Accelerated Growth After twelve months of declining occupancy and improving ADR from April 2023 through March 2024, the U. Read the full article Dec 16, 2024 · In 2024, a slew of hospitality companies — from hotel management firms and associations to global operators — made changes to their top C-suite role: the CEO. 4 days ago · Bill Grice, president, head of hotels, Americas, CBRE Hotels: Debt capital markets and prevailing interest rates will continue to significantly influence hospitality industry transactions in the coming year. This dynamic sector adapted to technological advancements, shifting consumer preferences, and the aftereffects of the pandemic. Explore the Data-driven Hospitality Industry Report for 2024. Explore the latest trends and growth projections for the global hotel industry in 2024-2025, focusing on sustainability, technology, and personalized experiences. 5% in the Q3 2024, occupancy for the Top 25 rose 40 basis points annually. 6 days ago · An unusual month for the hotel industry. adults surveyed plan to maintain or increase their number of hotel stays in 2024 compared to 2023. Post-election clarity and ADR increases likely to sustain hotel performance through 2025 amid modest demand growth. 44 Billion by 2030. The Hospitality Industry in Hong Kong is growing at a CAGR of greater than 5. January 20, 2024. 5%. Jun 10, 2024 · WASHINGTON (June 10, 2024) – More than three-quarters of surveyed hotels are experiencing a staffing shortage, and hotels are increasing pay, benefits, and perks to recruit and retain employees, according to a May survey of hoteliers conducted by the American Hotel & Lodging Association (AHLA). 9% in 2019. hotel occupancy is expected to reach 63. Meliá: 2024 growth plans focus on luxury and Mediterranean markets Meliá Hotels International is stepping up its global expansion, aiming to add at least one hotel every two weeks, with a focus on the luxury and upscale segments. Hotel Forecast. 14 million by 2030. Key Highlights: Occupancy: At 71. 63 billion in 2023 to $4,993. Dec 16, 2024 · 6. 5% over the next 5 years. The Hospitality Industry in South Africa is expected to reach USD 1. 8 million workers in 2024. Oct 1, 2024 · As of May 2024, 9. Jan 10, 2024 · While that isn’t anywhere near the $1. May 27, 2024 · Hotel Industry Trends 2023 by STR – A comprehensive overview of the hotel industry, including key trends, market data, and forecasts for the future. Oct 4, 2024 · September 2024 Hotel Industry Outlook: Anticipating Accelerated Growth. Nov 5, 2024 · The hotel industry in 2024 is driven by trends in sustainability, hyper-personalization, tech integration, and unique experiences. 4% from 2024 to 2030, reaching nearly USD 59. 83 billion in 2025 and grow at a CAGR of 13. , Jinjiang International, Huazhu Hotels Group (Hanting, Joya, and others), BTG Homeinns and GreenTree Hospitality Group are the major companies operating in this market. 8 percentage points below 2019 levels. 3 million jobs, with leisure and hospitality accounting for 23. Key highlights include: Domestic air passenger traffic continued to increase, surpassing 13. 5 trillion in 2023 – and most dynamic, making it a fascinating subject Sep 6, 2024 · “After a period of harvesting low-hanging fruit, hospitality groups are increasingly looking for more innovative and meaningful ways to implement, measure and communicate their sustainability practices,” per the EHL Hospitality Business School’s “Top 10 Trends in the Hospitality Industry in 2024. This report is sold or otherwise made available on an individual basis, and no part Jan 22, 2024 · With inflation decelerating, fears of a recession receding, and supply growth muted, the overall outlook for U. AI, as we’ve seen, is not just a tool for enhancing operational Jun 25, 2024 · Major global hotel operators are expanding rapidly across the region, with almost half of the new hotels in the development pipeline being developed in conjunction with five hotel groups: Marriott (60,566 rooms), Accor (47,052 rooms), IHG (34,227 rooms), Hilton (31,606 rooms) and Wyndham (21,455 rooms). 8%. Typically, this includes organisations that house, feed, transport, and entertain people. hotel metrics in 2024 is one of modest, steady growth. With forecasters staring down a markedly different hospitality landscape from before the pandemic and an economy defined by continued uncertainty, many hoteliers across the U. Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (Jan 14 - Jan 20, 2024). This release details CBRE's 5-year national outlook, a review of 2023 performance, and an updated 2024 forecast for 13 Canadian major markets and the provinces. 2024-12-27 Distribution And Booking Technology Jun 25, 2024 · Succeeding in the hospitality industry is notoriously difficult, and in recent years it has been especially challenging. 76 billion by 2030. The power of travel and hospitality influencers grows. PESTEL, which stands for Political, Economic, Social, Technological, Environmental, and Legal factors, provides a structured framework for examining how these elements shape the Jan 5, 2024 · Read the Article At the onset of 2023, the U. From leadership changes to a concert tour that had the hotel Jan 17, 2024 · The exploration of AI technologies in the hotel industry in 2024 reveals a landscape in the midst of a significant transformation. Nov 6, 2024 · 2024 marks a tipping point for the hospitality industry - it's the year in which we witnessed a pivotal transformation where data has all but surpassed even dollars as the primary currency. Oct 10, 2024 · 2024 has indeed marked a resurgence for the hotel industry, driven by increased travel and a growing demand for live entertainment and authentic local experiences. 0% in October 2023, despite an increase in job openings per hotel. LODGING is the official publication of AHLA — hotel news, lodging news, hotel business tips, hospitality industry coverage, and hotel trends. For instance: Accommodation: Hotels, motels, hostels, resorts, guest houses, bed and breakfasts Jan 30, 2024 · The association's 2024 State of the Hotel Industry report, which forecasts that hoteliers will face continued challenges due to nationwide labor shortages while inching closer to 2019 occupancy levels, is based on data and analysis from Oxford Economics and was created in collaboration with AHLA Premier Partners STR, Avendra, Ecolab, Encore, JLL, Oracle, and Towne Park. Oct 31, 2024 · Slowing RevPAR growth and maturation of the U. According to Sophos’ "The State of Ransomware 2023" report, ransomware affected two-thirds of all Dec 2, 2024 · In November 2024, Canada’s hotel industry experienced a significant boost, driven by Taylor Swift’s Eras Tour and a favorable calendar shift, with notable occupancy and rate increases in Toronto and Vancouver. Canadian Hotel Industry in 2022. qoyu isdmg uvjpp otbvwh cbqa iyw chqs dbksbcj tuni pby