What are the hospitality trends for 2024?
What are the hospitality trends for 2024? In 2024, sustainability will be a top priority for 90% of event planners, with eco-friendly practices and venues being preferred. Additionally, 85% of attendees expect hotels to have wellness offerings, such as fitness facilities and healthy food options.
Is the hospitality industry growing 2023?
In 2023, the global hospitality market reached nearly 4.7 trillion U.S. dollars and was forecast to grow to 5.8 trillion U.S. dollars in 2027 at a compound annual growth rate (CAGR) of 5.5 percent.
What is the highest demand season for hospitality and tourism?
The busiest time in the hospitality and tourism industry usually falls between June and August, but this can vary depending on the region and attractions. For instance, New York experiences a second peak season in winter, around November to December.
What is the future outlook for hospitality and tourism?
Leisure and hospitality projected to mostly recover pandemic-driven employment losses. The Bureau of Labor Statistics projects the U.S. economy to add 8.3 million jobs from 2021 to 2031. Of those, 1.9 million jobs—23.1 percent of all new jobs projected—are expected to be in leisure and hospitality.
What do Millennials want from hotels?
Millennials are Interested in Their Surroundings Since millennials value experiences and personalisation, they appreciate being made aware of the surroundings of the hotel. They want to have information about the activities and places of interest around the hotel so they can tailor their own unique experiences.