hospitality outlook
PwC’s US Hospitality Directions – May 2024
PwC Hospitality Directions | May 21, 2024
Economic uncertainty, an upcoming election and geopolitical tensions to likely impact hotel performance through 2025 Growth in leisure demand has moderated for US hotels. Domestic travelers have continued to seek out experiences internationally and inbound international traffic has yet to recover to pre-pandemic levels. An increased appeal of short-term rentals by leisure travelers has contributed to moderating leisure demand for hotels. Individual business travel and group demand have continued to improve but have still not been able to offset the softening of leisure demand. As a result, occupancy levels have declined year-over-year in eac...
Q2 Industry Perspectives: Looking Ahead for the Travel Industry
Jamie Mageau | August 18, 2023
By Jamie Mageau Over the last several weeks, many travel businesses released their Q2 earnings and shared their latest expectations. These insights and perspectives help us understand how some of the largest corporate travel players are viewing the state of the economy and its impact on the travel industry as well as opportunities or barriers on the horizon that may impact their continued growth. Here is a deeper dive into their perspectives. Leisure demand normalizing and returning to pre-pandemic trends Hilton CEO, Chris Nassetta: Leisure demand in the U.S. remained strong but grew more modestly year-over-year due to tougher compariso...
Q&A: Chris Nassetta Reflects on a Challenging 2020 and His Optimism for the Return of the Golden Age of Travel
Hilton | January 6, 2021
The turmoil of 2020 has affected all of us – every person, company and industry – many in profound and even tragic ways. The hospitality sector is no exception and in fact has endured one of the most harrowing challenges in its history. But amid that challenge came an opportunity for resilience, along with important lessons and insights for the future. Hilton President & CEO Chris Nassetta, a 37-year industry veteran, shared his perspective on this unprecedented year – what he experienced, what he learned and what he’s most looking forward to in the new year. What was your biggest challenge of 2020? It’s so hard to pi...
Vision 2050 – Hotel Recovery From COVID-19
Robert Rauch | January 5, 2021
By Robert Rauch The next 30 years begins with COVID-19 recovery. What does that look like? We pick up the pieces that were cracked, torn apart and ravished one by one. We will review demand, those elusive customers who are either mandated to stay at home, are afraid to travel or were planning to attend an event that was postponed or cancelled. We’ll discuss challenges we see on the horizon and review the economy, what guests are looking for, what hotel recovery may look like and the future. Short-Term Outlook Good times are ahead for those with about six months of patience. We will have a very soft Q1 despite the PPP dollars that...
The Outlook for Hospitality, Part 4: Technology Vendors Discuss Their Plans for the Future
Fran Worrall | December 16, 2020
By Fran Worrall Two weeks ago, in Part 3 of our series on the outlook for hospitality, we asked some of the industry’s leading technology vendors to discuss the solutions that are helping the industry recover. Not surprisingly, many companies have experienced an overwhelming demand for contactless solutions—from mobile food and beverage ordering to keyless entry systems. Other companies have seen rapid adoption of new business intelligence and CRM technology. Without exception, every vendor we interviewed has met the challenges surrounding the pandemic head-on, with many of them releasing new and improved solutions that offer low-to...
The 2020 Hospitality and Tourism Trends That Will Likely Stay in 2021 and Beyond
Linchi Kwok | December 2, 2020
By Linchi Kwok The COVID-19 pandemic had made an unprecedented impact on the global economy in 2020. The good news is the long-waited COVID-19 vaccines will soon become available. Let’s hope that the coronavirus will disappear soon as we enter the New Year. Looking back before we look forward At year-end 2019, I predicted a few 2020 trends in hospitality, retail, and tourism businesses. For example, I recommended that we should pay special attention to the following areas: A shifting focus on food delivery, sustainable food, and quick-casual restaurants. Using AI and facial recognition in service operations. The threats from...
PwC’s 5th Edition of the ‘Hospitality Outlook: 2015-2019’: South Africa, Nigeria, Mauritius & Kenya
PwC | May 14, 2015
JOHANNESBURG, South-Africa, May 14, 2015 -- South Africa's hospitality industry is prepared to grow further in the next five years, with most growth in the sector expected to be generated in Cape Town, according to a report released by PwC today. Download the report 'Hospitality Outlook 2015' Nikki Forster, Hospitality Industry Leader for PwC, Southern Africa, says: "Although South Africa's economy has weakened, the hotel industry in 2014 has benefited from an increase in foreign visitors and rising room rates." PwC's 5th edition of the 'Hospitality Outlook: 2015 – 2019' projects that by the year 2019 the overall occupancy rate across...
