industry trends
How To Be a Successful Hotel General Manager
EHL Insights | October 29, 2024
In the current climate, hoteliers are constantly seeking ways to become better hotel managers, opportunities to advance their careers and distinguish themselves in what is a competitive industry. This blog serves as a vital resource for hotel management professionals who aspire to elevate their skills, expand their networks, and embrace the latest trends and innovations in the field. Whether you are aiming for personal career growth, wanting to enhance guest experience, or seeking strategies to optimize your operation, you will find valuable insights and practical advice here. Discover the 5 transformative steps that will not only im...
Hospitality Industry Statistics To Have on Your Radar 2024
EHL | August 28, 2024
The hospitality industry is a vast sector with many different sub-sectors that include recreation, lodging, entertainment, food and beverage which are constantly evolving. Due to the overwhelming amount of data available today, it has become increasingly challenging for industry players to gather all the necessary hospitality statistics to keep up with the latest trends. As a result, staying informed and up-to-date has become an impossible task. Despite being an exhilarating career path with many avenues that demand a diverse skill set, the hospitality industry is currently struggling to fill open positions. This is partly due to the chan...
Hospitality in 2023: A Look Into the Last Year
Manoj K Mohanty | January 3, 2024
By Manoj K Mohanty The last year marked several changes in the realm of hospitality. As the industry overcame several economic and cultural challenges, almost reaching its pre-pandemic levels of activities, it also witnessed new technologies, trends, strategic changes and fluxes in market behaviour. As we conclude 2023, it is essential to understand the lessons learned and the imprints left behind by these shifts. 1. New industry trends witnessed in 2023 The hospitality industry is expanding its horizons, branching into new areas. The experimentation with flying cars, underwater hospitality and the popularisation of aparthotels were at ...
Top Concerns and Trends for Hoteliers in 2022
Joseph Pierce | December 20, 2022
By Joseph Pierce As we get ready to flip the calendar to a new year, we are reflecting on the hospitality industry in 2022, which has proven to be a dynamic and interesting year. Many of the challenges that plagued the industry in 2021 still exist but in many instances to a lesser extent. By year-end new challenges such as the highest inflation rate in 40 years and the fear of a recession have started to have an impact. But the industry remains flexible to the needs and desires of the guest and continues to pivot to meet the challenges of the future. H&LA’s consultants have worked on many assignments in 2022, bringing with them th...
OTAs Deliver Business. Can Hoteliers Do Better?
HotStats | July 13, 2021
As COVID-19 roiled the globe, hoteliers, like 9/11 and the Global Recession before it, found online travel agencies (OTAs) throwing them a lifeline. Through extensive TV and online advertising, booking engines pull in heaps of business, but at typically high commission costs that eat into profit margins. According to HotStats data, rooms cost of sales, a metric that measures commissions and reservations expenses and fees, year-to-date 2021 were down 37% to $2.08 on a per-available-room basis compared to the same period a year prior. In Europe, it was a similar trend, with rooms costs of sales at €1.31 year-to-date 2021, a 62.6% decrease ...
Shep’s 2021 Top 10 Business Predictions
Shep Hyken | January 7, 2021
By Shep Hyken Every year I write my customer service and customer experience (CX) predictions in my Forbes.com column. This year, I thought I would share a brief version of them with our Shepard Letter subscribers. So, here are my Top 10 Predictions for 2021: 1. Customers continue to get smarter. This has led to my list of predictions for several years. Our customers keep getting smarter about customer service and experience. They tolerate fewer customer service failures and demand better because they know it’s possible. 2. Customers are becoming impatient. They want what they want NOW. Consider the result of the more than 1,00...
Hotel Industry Trends: The Near Future Report
Pierre Verbeke | May 26, 2020
By Pierre Verbeke & Jochen de Peuter What might the hotel industry expect over the coming months? We do not have a crystal ball, however there is enough data available that reveal hotel trends based on economic relationships. Factors related to hotel performance do not predict a bright immediate future Intercontinental travel is not expected to pick up the coming months or year, flights and airline routes are cancelled, governments are slowly opening borders sometimes coupled with quarantine measures, most economies expect a drop of GDP by double-digit numbers, and many companies, organisations and consumers become risk averse to tra...
STR: U.S. Hotel Performance for March 2020
STR | April 21, 2020
HENDERSONVILLE, Tennessee—In its first month with a visible impact from the COVID-19 pandemic, the U.S. hotel industry reported double-digit declines in the three key performance metrics during March 2020, according to data from STR. In a year-over-year comparison with March 2019, the industry posted the following: Occupancy: -42.3% to 39.4% Average daily rate (ADR): -16.5% to US$110.66 Revenue per available room (RevPAR): -51.9% to US$43.54 Among the Top 25 Markets, San Francisco/San Mateo, California, experienced the steepest drop in occupancy (-62.2% to 30.2%), which resulted in the largest decrease in RevPAR (-72.3% to ...
