How will be the Future’s Hotels?
🎧💡 #12 Macro & Business Insights
Hi all, and welcome back to The Macro & Business Insights!
What you’ll find in this episode:
How the Hotel’s industry is changing due the pandemic
Why some hotels has more success than others
How the Hoteliers is working for the Future’s Hotels
Let’s see finally how much money on the table for this industry there are
I’ve made many international trips in my life, and I always find very fascinating the hotel industry.
Is incredible how many hotels and resorts there are if we have looking around (2,246 hotels were opened in 2021, which will grow to 2,805 in 2022 and 2,934 in 2023) and they are literally different each other, incredible.
In this piece you will know not only how this industry is changing due to the pandemic and behavior’s customers, but you will know how the hotels of the future will potentially be.
And as Financial enthusiastic like we are, you will see even a financial picture about the numbers, the revenues and the trends that we might have over the years in this industry.
For example:
Airbnb revenues increased by 76.6% from 2020 to $48.9 billion. (All the Rooms).
The average Airbnb occupancy rate globally in 2020 was 17.4%. (All the Rooms).
Booking.com is the most valuable travel and tourism brand in the world, with a brand value of $8.9B. (Hotel Tech Report).
Hilton is the most valuable hotel brand in the world, with a brand value of $7.6B in 2021, although the Wyndam group has the most properties. (Hotel Tech Report).
Understanding hospitality industry statistics allows you to properly equip yourself to handle your changed client needs for your business to grow rapidly in this new environment.
They will help you know what you need to do to succeed and come up with strategies to take your business to the next level.
According to Hospitality Global Market Report, the global hospitality market is expected to grow from $3,952.87 billion in 2021 to $4,548.42 billion in 2022 at a compound annual growth rate (CAGR) of 15.1% due to the removal of restrictive COVID-19 measures.
It is expected to reach $6,715.27 billion in 2026 at a CAGR of 10.2%.
Deloitte think that uncertainty as to the exact trends will shape the hotel of the future, but they even assume that hotel design is set to continue prioritizing sustainability, technology, authenticity and personalization.
In addition, the latest trends, innovations and changes in the tourism industry are challenging hotels to move beyond brand identity and extend and deepen their relationships with travelers.
Technology innovations, growing environmental and sustainability priorities, changing customer demands and preferences, and new competitive challenges are pushing hotels to offer increasingly personal, uniquely tailored experiences for every guest on every visit.
If you had like this piece and you want to read all the article I invite you to go on my website www.scriptamanent.blog, which you can find many more useful insights.
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Disclosure
This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This material has been prepared for informational purposes only. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.