How will the hotel industry change?
How will the hotel industry change? There are many benefits that technology can bring to the hospitality industry. For example, technologies like artificial intelligence (AI) chatbots can improve guest experience, mobile ordering can increase efficiency, and robots can lower staff workload and minimize costs.
How is the hotel industry doing 2023?
The U.S. hotel industry has continued to experience growth in 2023, building upon the momentum gained in 2022. According to data provided by Smith Travel Research (STR), the sector experienced pronounced performance in April 2023 compared to earlier months.
What is the hotel outlook for 2024?
For 2024, the RevPAR growth projection was also lowered 0.5ppts on a 0.5ppt downgrade in occupancy. Average daily rate (ADR) was upgraded 0.1ppts for 2023 but kept flat for 2024. “We brought down our growth projections with the industry in a period of normalization,” said Amanda Hite, STR President.
How will tourism be in 2023?
According to estimates from the World Tourism Organization (UNWTO) for 2023, international tourist arrivals could reach 80 to 95 percent of prepandemic levels depending on the extent of the economic slowdown, travel recovery in Asia–Pacific, and geopolitical tensions, among other factors.
What are the three trends that are having an impact on hospitality industry?
Regarding hospitality trends related to marketing, there are several general trends to be aware of. These include the increased focus on local and voice search, increased use of virtual reality tours to sell hospitality products, a greater emphasis on personalization, and the growth of influencer marketing.
Why are hotels so expensive right now 2023?
High Demand for Hotel Rooms The high demand for hotel rooms plays a big part in why hotels are so expensive right now. When lots of people want to stay in hotels, the hotels become full quickly. This is called high occupancy. With more people wanting to book rooms, hotel owners can charge more money for them.
Will 2023 be a good time to travel?
Trends in Travel There will likely be a preference for visiting less-crowded destinations in 2023. This is partly due to COVID-19 concerns, but perhaps also due to a growing desire to have a unique experience. Travelers are opting for small group adventure travel, like AAA Club Adventures.