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Trends that matter in hospitality.
Tuesday, 18th April 2017
Source : Yeoh Siew Hoon

What are the trends that matter in hospitality? In a one-on-one with WIT founder Yeoh Siew Hoon, Lorraine Sileo, vice president research, Phocuswright shared these insights at WIT Hospitality in Hong Kong.

What are the biggest trends in hospitality

  1. Room revenue is on the rise, growing faster than the market as a whole, not to mention how capacity keeps rising due to the rise of private accommodation
  2. Online is soaring, especially in Asia – and contrary to what you think, it’s not JUST because of mobile
  3. The online battle between hotels and OTAs continues to rage
  4. Private accommodation makes impact on the hospitality space
  5. Hotels fight back through innovation

How healthy is the hotel market right now?

Hotel room revenue is continuing to climb, reaching half a trillion dollars worldwide.

Hotels represent nearly 40% of the global travel market. And room revenue is growing at healthy mid to high single digits, which is a bit faster than the travel market as a whole.

Read the full story here.

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