What is the hotel occupancy rate in 2023?

What is the hotel occupancy rate in 2023? According to new Demand360^® business intelligence data from travel technology leader Amadeus, global hotel occupancy levels up to the end of August 2023 have been an average of 10% ahead of 2022.

What do travellers want 2023?

Travelers want authentic experiences that give them a taste of local culture and let them explore hidden gems that friends back home don't know about.

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.

Will tourism come back in 2023?

Global tourism arrivals will increase by 30% in 2023, following growth of 60% in 2022, but will remain below pre-pandemic levels.

Are staycations still popular 2023?

An international study by tourism and hospitality experts in the U.S. and China has determined the “staycation phenomenon,” which reached prominence during the COVID-19 pandemic, is still going strong and is most likely here to stay as part of a new industry normal.

How is the travel industry 2023?

According to a recent Prosper Insights & Analytics survey, 2023 is the year in which travel is starting to climb back up to pre-covid numbers. The post-pandemic world is likely to continue to grow as China and Asia completely recover alongside these trends becoming the new standard in travel.

Will 2023 be a big travel year?

A resounding 87% of survey respondents expect to travel at least as much as they did in the prior year, with 49% selecting that they expect to travel more. This is especially true among younger respondents, with 59% of those between the ages of 18 to 26 planning to travel more in 2023.

What is the hotel outlook for 2023?

Room rates increased by over 10 percent in Q1 2023, with RevPAR slightly higher than expected. However, adjusted for inflation, room rate, and RevPAR are still below 2019 levels, and it is unlikely that 2019 results, in real terms, will be achieved until 2026.

What is the hotel technology in 2023?

The top five trends that are expected to dominate the industry in the coming years include: AI and ML for personalizing guest experiences and automating tasks; IoT for creating smart hotels and restaurants; mobile technologies for convenient and efficient ordering and payment systems; cloud-based technologies for data ...

What is the future of hotels in 2030?

In the 2030s, the best hotels will offer highly personalized guest experiences, sustainable travel options, and attractive employee opportunities.

Which country is best for tourism 2023?

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.

Is it a good idea to get into travel and hospitality in 2023?

Three years later, the world is adjusting again. While tech companies shed jobs in response to the state of the economy in 2023, the hospitality industry is now ready to hire in response to the expected increase in travel. One of the sectors that had the biggest job growth in December 2022 was travel and leisure.

How can hospitality be sustainable in 2023?

Environmental sustainability remains at the heart of hotel concerns also in 2023. Many are adopting eco-friendly practices, such as the use of recycled materials, responsible water management and renewable energy. OTAs have also made environmental sustainability their priority.

Will hotel prices go down in 2023?

If you thought 2022 was an expensive year to travel, get ready to spend even more in 2023. New data from travel site Hopper shows that U.S. hotel prices averaged $212 per night in January — that's 54% higher than the same month in 2022. Planning on taking a trip soon?

What is the hotel occupancy trend in 2023?

TROY, Michigan—With average U.S. hotel occupancy on track to reach 63.8 percent in 2023, just shy of the pre-pandemic level of 65.9 percent, business and leisure travelers are packing into hotels throughout North America for a second consecutive year.