Recent years have been marked by a fervent pursuit of progress and an urgency to re-align with global standards — “a return to this” and “a return to that” dominating media headlines.
In 2024, “returns” are redundant — this year is a year to take the metaphysical bull by the horns and make the best of all the tools we have at our disposal. Success hinges on a deep understanding of the rules and intricacies of the game and leveraging them to win while being thoughtful about the use of technology, adapting people to multiple roles and monetizing different areas.
The hospitality landscape has returned to normal, and those who lead with curiosity will emerge as the vanguards of the hotel management industry.
The rules for 2024 are being shaped by a multitude of factors. Here are a few that will have a positive impact on the industry.
Resurgence Around Group Bookings
It has been well established that travelers seek purpose in their travels. According to Embark Beyond, a whopping 61% of Americans are seeking to travel with extended family or small friend groups this year. Similarly, MasterCard emphasizes that business travel spending is expected to surpass 2019 levels. Emerging victorious will be those hotel management companies that will be able to transform this widespread resurgence into an opportunity beyond conventional expectations.
The key lies in transforming this widespread revival into an opportunity that transcends industry standards. Rather than fixating on what has “returned” from the pre-pandemic era, forward-thinking hotel management companies should focus on anticipating the evolving future needs of travelers, using the current landscape as a baseline. Guests today expect more than traditional offerings, and a prolonged fixation on past impediments may jeopardize the necessary progress needed to meet these elevated expectations.
Read the full article at HotelNewsNow (part of CoStar)
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