Laura Bartholomew’s Post

Business Travel & Groups on the Upswing, but Higher Costs Loom At the 2024 NYU Hotel Conference, a panel of hotel CEOs discussed the current state of the industry. The key takeaway: business travel is back and booming! *After a pandemic-related downturn, business travel has surpassed pre-Covid levels, with demand for rooms and rates on the rise. *The CEOs attributed the surge to the return of in-person meetings, conferences, and events. *The panel also discussed the importance of technology, sustainability, and personalized guest experiences in the evolving hotel landscape. The CEOs' optimism suggests a bright future for the hotel industry, driven by the resurgence of business travel, however, I'm feeling a mix of emotions as business travel and groups start to rebound. On one hand, it's great to see companies getting back to in-person meetings and events, driving up revenue for the hotel industry. On the other hand, inflation and labor costs are eating into those gains, making it a challenging time for hotels to maintain profitability. While some industries are embracing the return to in-person connections with caution, event planners are taking a more measured approach, booking with caution and negotiating harder than ever. It's a delicate balance between reviving the business travel sector and navigating the rising costs of doing business. Here's hoping the industry can find a way to strike a balance and make the most of this resurgence! https://lnkd.in/eQ6UifMc

We are pleased to share with you our latest thoughts on the travel and hospitality tech market. As we move into Q2 '24, the vertical is on its best-ever footing. Travel spending is poised to surpass pre-pandemic levels in '24, share prices for most public operators are at all-time highs, and travel and hospitality tech shares are within a hairsbreadth of record territory with multiples up ~40% vs. pre-COVID. What's more, key areas still have not fully bounced back (e.g. cross-border travel, GDP weighted spend) suggesting that there is still room for above-trend growth. Authors: Jonathan Weibrecht & Charlie Schopp To request a download, please click on the link below.

🌍 Unlocking the Potential of the Booming Hospitality Industry 🌍 Let's talk numbers: in 2019, the hospitality industry was valued at a staggering 10 trillion. Fast forward to 2024, it reached 11.1 trillion, and projections for 2034 are a whopping 16 trillion. What's driving this exponential growth? Several key factors are at play. Firstly, with life expectancy skyrocketing and remote work becoming the new norm, travel has transitioned from a luxury to a lifestyle necessity. As a result, the demand for exceptional hospitality experiences is higher than ever before. But here's where the opportunity lies: a significant chunk of that 16 trillion will be allocated to operators who can offer prime locations at more affordable rates. How? Through embracing automation to streamline operations, reduce costs, and prioritize essential guest services. Who do you think will emerge as the frontrunners in this era of unparalleled growth? ✨ #HospitalityEvolution #FutureofTravel #JoinTheDiscussion

Sunday Thoughts Digital Ease or Long Term Focus? In the hospitality business, things are always changing. The digital revolution has brought about new challenges and chances. Today, when we have to deal with the complicated online market, it's even more important to think about the long run. Especially when you think about how long-lasting relationships work and how appealing online providers are, who often have lower prices and can cut margins by a large amount. How travelers find, review, and book their trips has changed a lot since the Internet came along. Platforms that don't spend a lot of money can offer low prices, which often beat out traditional partners who have been investing in the area for years. This change needs a careful act of balancing. We should enjoy the wide reach and ease of use of online channels, but we shouldn't forget the importance of relationships that have been built over time. It's important to recognize that these long-term partners have had a big impact on shaping and promoting locations. Their efforts are more than just transactions; they are deeply woven into the local tourism ecosystem. As we plan our digital strategies, it's only fair to acknowledge these partners and keep them aware and involved. This is also good business sense and strategic thinking. But we also need to remember that the guest is the one who makes the final decision. People who travel today have more options and knowledge than ever before. Our goal should be to make sure that, even with all of these choices, they can easily and quickly get to our objective and services. To do this, you might need to take a hybrid method, where online visibility and traditional partnerships work well together. Giving up the old for the new is not what it means to adapt to the digital game. Instead, it's about finding a way to use the best parts of both worlds together. We want our guests to be able to find us through whichever channels they prefer, and we want to keep and value the relationships that have helped our destinations grow to where they are now. Finally, as we accept the digital transformation, let's do so with a plan that recognizes and includes the important things that our long-term partners have brought to the table. By finding this balance, we can build a long-term business that succeeds through both new ideas and loyal customers. The hotel industry is going digital, and long-term partnerships are being formed in the online travel market.

🎉 How to kick off 2024? Read this exhaustive European outlook from Hospitality Net 📢According to the European Travel Commission’s latest report, 71% of Europeans choose to either maintain or boost their travel expenditures 💪 As Chinese travelers have not released their “revenge travel” to Europe yet, the arrivals are forecasted to increase by 82% in 2024, generating over 33 million overnights. 🌍 This is likely to boost the hotel performance in key tourism hotspots such as London, Edinburgh, Rome and Paris. ✈ Business travel and in-person conferences are recovering. According to MasterCard’s research, 88% of travel decision-makers believe that business travel is critical for driving their organization’s growth. As a result, operators are reporting growth of corporate business in their hotels. 🛎 Leisure has been the primary leader of the recovery and investors will continue to hunt for opportunities in this sector, especially with a value-add angle. 

As we step into the latter half of 2024, I’m excited about the opportunities unfolding in the travel sector. Recent insights from IHG’s CEO, Elie Maalouf, reveal a strong demand trajectory outside of China, with global revenue per available room rising by an impressive 3%. Unlike some competitors, IHG’s commitment to technological innovation is driving growth and enhancing guest experiences, even amidst a shifting market landscape. This positive momentum indicates that the travel industry is gearing up for an exciting finish to the year! I’d love to hear your thoughts on how we can leverage this growth together. Let’s exchange ideas on how we can harness this momentum and continue to elevate the travel experience for everyone. #TravelIndustry #Growth #Innovation #TechInTravel #TravelTrends https://lnkd.in/gj-GRzZd

Pack Your Bags, Investors: The Hospitality Boom is Back in 2024! Remember those quiet hotel lobbies and deserted tourist spots? They're a thing of the past! The travel bug is BACK in a big way, and the hospitality industry is buzzing with opportunity. ✨ Here's why hotels and motels are hotter than ever in 2024: Revenge travel is real: Pent-up demand is unleashing a travel surge, with bookings skyrocketing across the globe. ✈️ Staycations are booming: With wanderlust alive but wallets feeling the pinch, domestic travel and local hotspots are thriving. ✨ Diverse options are key: From trendy boutique hotels to budget-friendly motels, every niche is seeing a resurgence. Technology is transforming the game: Contactless check-in, mobile booking, and personalized experiences are driving guest satisfaction. Thinking of joining the hospitality party? Here are some things to consider: Location, location, location: It's still the golden rule. Do your research and pick a spot with high travel appeal. ️ Know your market: Cater to your target audience, whether it's business travelers, families, or adventure seekers. ♀️ Embrace technology: Invest in tools that streamline operations, enhance guest experience, and boost your online presence. Seek expert advice: Partner with Perfect RealEstateInvestments who can navigate regulations, financing, and operational complexities. **Remember, the hospitality industry is fast-paced and competitive. Do your due diligence, be passionate about creating memorable experiences, and stay ahead of the curve. With the right approach, you could be the next hospitality haven in 2024! ** #HospitalityInvestment #TravelTrends #HotelBoom #MotelMakeover #InvestInTourism

Pack Your Bags, Investors: The Hospitality Boom is Back in 2024! Remember those quiet hotel lobbies and deserted tourist spots? They're a thing of the past! The travel bug is BACK in a big way, and the hospitality industry is buzzing with opportunity. ✨ Here's why hotels and motels are hotter than ever in 2024: Revenge travel is real: Pent-up demand is unleashing a travel surge, with bookings skyrocketing across the globe. ✈️ Staycations are booming: With wanderlust alive but wallets feeling the pinch, domestic travel and local hotspots are thriving. ✨ Diverse options are key: From trendy boutique hotels to budget-friendly motels, every niche is seeing a resurgence. Technology is transforming the game: Contactless check-in, mobile booking, and personalized experiences are driving guest satisfaction. Thinking of joining the hospitality party? Here are some things to consider: Location, location, location: It's still the golden rule. Do your research and pick a spot with high travel appeal. ️ Know your market: Cater to your target audience, whether it's business travelers, families, or adventure seekers. ♀️ Embrace technology: Invest in tools that streamline operations, enhance guest experience, and boost your online presence. Seek expert advice: Partner with Perfect RealEstateInvestments who can navigate regulations, financing, and operational complexities. **Remember, the hospitality industry is fast-paced and competitive. Do your due diligence, be passionate about creating memorable experiences, and stay ahead of the curve. With the right approach, you could be the next hospitality haven in 2024! ** #HospitalityInvestment #TravelTrends #HotelBoom #MotelMakeover #InvestInTourism

Pack Your Bags, Investors: The Hospitality Boom is Back in 2024! Remember those quiet hotel lobbies and deserted tourist spots? They're a thing of the past! The travel bug is BACK in a big way, and the hospitality industry is buzzing with opportunity. ✨ Here's why hotels and motels are hotter than ever in 2024: Revenge travel is real: Pent-up demand is unleashing a travel surge, with bookings skyrocketing across the globe. ✈️ Staycations are booming: With wanderlust alive but wallets feeling the pinch, domestic travel and local hotspots are thriving. ✨ Diverse options are key: From trendy boutique hotels to budget-friendly motels, every niche is seeing a resurgence. Technology is transforming the game: Contactless check-in, mobile booking, and personalized experiences are driving guest satisfaction. Thinking of joining the hospitality party? Here are some things to consider: Location, location, location: It's still the golden rule. Do your research and pick a spot with high travel appeal. ️ Know your market: Cater to your target audience, whether it's business travelers, families, or adventure seekers. ♀️ Embrace technology: Invest in tools that streamline operations, enhance guest experience, and boost your online presence. Seek expert advice: Partner with Perfect RealEstateInvestments who can navigate regulations, financing, and operational complexities. **Remember, the hospitality industry is fast-paced and competitive. Do your due diligence, be passionate about creating memorable experiences, and stay ahead of the curve. With the right approach, you could be the next hospitality haven in 2024! ** #HospitalityInvestment #TravelTrends #HotelBoom #MotelMakeover #InvestInTourism

Pack Your Bags, Investors: The Hospitality Boom is Back in 2024! Remember those quiet hotel lobbies and deserted tourist spots? They're a thing of the past! The travel bug is BACK in a big way, and the hospitality industry is buzzing with opportunity. ✨ Here's why hotels and motels are hotter than ever in 2024: Revenge travel is real: Pent-up demand is unleashing a travel surge, with bookings skyrocketing across the globe. ✈️ Staycations are booming: With wanderlust alive but wallets feeling the pinch, domestic travel and local hotspots are thriving. ✨ Diverse options are key: From trendy boutique hotels to budget-friendly motels, every niche is seeing a resurgence. Technology is transforming the game: Contactless check-in, mobile booking, and personalized experiences are driving guest satisfaction. Thinking of joining the hospitality party? Here are some things to consider: Location, location, location: It's still the golden rule. Do your research and pick a spot with high travel appeal. ️ Know your market: Cater to your target audience, whether it's business travelers, families, or adventure seekers. ♀️ Embrace technology: Invest in tools that streamline operations, enhance guest experience, and boost your online presence. Seek expert advice: Partner with Perfect RealEstateInvestments who can navigate regulations, financing, and operational complexities. **Remember, the hospitality industry is fast-paced and competitive. Do your due diligence, be passionate about creating memorable experiences, and stay ahead of the curve. With the right approach, you could be the next hospitality haven in 2024! ** #HospitalityInvestment #TravelTrends #HotelBoom #MotelMakeover #InvestInTourism