labor shortages
Top 5 Hotel & Lodging Market Trend Predictions
Sean Skellie | March 1, 2024
By Sean Skellie #1 Stability Travel demand is likely to stabilize in 2024 benchmarking record occupancy and rate. Current trends indicate that the industry is reporting a decline in many markets for leisure travel (Thursday – Saturday as many consumers are getting out priced in the market), while group travel remains strong as Milwaukee will experience in 2024; with a slight increase in corporate bookings (Monday – Wednesday travel). The Industry will see 65+ percent occupancy overall and even higher ADR in 2024. The hospitality industry has been witnessing a resurgence in various segments of travel. Group travel, in particular,...
What’s the Buzz Among Today’s Hoteliers?
Mike Gray | September 12, 2023
By Mike Gray What’s on the minds of hoteliers? What’s keeping them up at night? And what makes travelers happy and eager to return? Some of the best places to have these candid discussions are at the industry’s conferences and events, and this year’s lineup has not disappointed. From AAHOACON and BITAC, to HITEC and The Hospitality Show, I’ve been traveling steadily, attending 13 events since January. Yes, the meetings business is growing, up 30% this year. Additionally, eight out of 10 business travelers expect to take trips to events in the next six months. It’s great to be on the road catching up with industry colleagues ...
Until the Dust Settles, Zero-Based Budgeting Is Indispensable
HotStats | June 27, 2022
Some forecasts make sense. George Carlin once astutely predicted the night’s weather: dark. On the other hand, handicapping the future—especially the economy—is a fool’s errand. Here’s what Jamie Dimon once said about it: “No one can forecast the economy with certainty.” If the CEO of JPMorgan Chase can’t do it, good luck to anyone else. His comment rings more true than ever. COVID-19 cast the hotel industry into a free fall and just as the global recovery began to germinate, along came inflation, supply-chain distress, labour shortages, exploding energy and fuel costs and a host of other severe issues that make running a h...
