Janine Laughlin’s Post

Take a look at our latest Global Hotel Pricing Report, with end-of-year snapshots on accommodations rates ...and a few unexpected surprises. Sneak peak --> Middle East was the only region dropping rates in H2 (by a significant -6%) #hoteltech #hotelrevenue #middleeast #hospitalitynews

Interested in a report that paints a vivid picture of hotel room price trends for H2 2023 and H1 2024? Check this ''State of global hotel pricing - H2 2023'' out and Download it here 👉https://otai.co/3uxvYMm

https://lnkd.in/gFfcXBqB Article Summary: 1. **Overview of Hotel Pricing Dynamics**: The latter half of 2023 saw a slowdown in hotel pricing growth globally, with notable exceptions in certain regions like Europe and Asia-Pacific's short-term rental sector.    2. **Key Takeaways for 2023**: Europe led in hotel market pricing growth, while short-term rentals outperformed hotels in terms of rate changes. Asia saw dominant hotel price growth with shifting travel preferences away from traditional beach resorts. 3. **Global Slowdown**: The article highlights a softening in global travel demand, with inflation rates affecting hotel pricing, particularly in Latin America and North America. 4. **Europe's Performance**: Europe stood out with sustained hotel pricing growth throughout 2023, driven by tourism resilience and diverse market appeal. 5. **Future Trends**: India's emerging travel sector, Europe's event-filled summer, and shifting travel preferences towards less congested destinations are anticipated trends for 2024. Top Takeaways: - Strong hotel pricing growth in Europe throughout 2023. - Short-term rentals outperforming hotels, especially in Asia-Pacific. - Shift in travel preferences towards less congested destinations. - Softening demand across global travel markets. - Impact of inflation on hotel pricing. Tools mentioned in the article: - Rate Insight - Distribution Insight - Market Insight - Destination Insight - Business Intelligence - Benchmark Insight - Parity Insight - Pricing Assistant - Lighthouse Commercial Platform These tools provide real-time pricing, demand, and short-term rental data for the hospitality industry, aiding in revenue maximization and market analysis.

Hot Off the Press: Lighthouse's Latest Report! We've just launched our latest report that paints a vivid picture of hotel room price trends for H2 2023 and H1 2024. Here are some of the key takeaways: - H2 2023 saw a slowdown in price growth, largely due to the cooling off of the post-pandemic travel boom and tighter family budgets. - The Middle East was unique, with hotel room rates actually falling during H2 2023. - Despite the overall slowdown, Europe's hotels and Asia-Pacific's short-term rentals displayed remarkable resilience and growth. - Looking ahead, 2024 may see a softer global lodging market, influenced by pressure on discretionary spending and a slower recovery in Chinese outbound tourism. - H2 2023 showed regional variations in growth, with short-term rental prices outpacing the hotel market in Africa, Asia, Europe, and the Middle East. Despite the slowdown, consumers' unwavering commitment to travel and tourism could offer a distinct resilience to the hospitality industry in 2024.

Article Summary: Overview of Hotel Pricing Dynamics: The latter half of 2023 saw a slowdown in hotel pricing growth globally, with notable exceptions in certain regions like Europe and Asia-Pacific's short-term rental sector. Key Takeaways for 2023: Europe led in hotel market pricing growth, while short-term rentals outperformed hotels in terms of rate changes. Asia saw dominant hotel price growth with shifting travel preferences away from traditional beach resorts. Global Slowdown: The article highlights a softening in global travel demand, with inflation rates affecting hotel pricing, particularly in Latin America and North America. Europe's Performance: Europe stood out with sustained hotel pricing growth throughout 2023, driven by tourism resilience and diverse market appeal. Future Trends: India's emerging travel sector, Europe's event-filled summer, and shifting travel preferences towards less congested destinations are anticipated trends for 2024. Top Takeaways: Strong hotel pricing growth in Europe throughout 2023. Short-term rentals outperforming hotels, especially in Asia-Pacific. Shift in travel preferences towards less congested destinations. Softening demand across global travel markets. Impact of inflation on hotel pricing. Tools mentioned in the article: Rate Insight Distribution Insight Market Insight Destination Insight Business Intelligence Benchmark Insight Parity Insight Pricing Assistant Lighthouse Commercial Platform These tools provide real-time pricing, demand, and short-term rental data for the hospitality industry, aiding in revenue maximization and market analysis

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