What the metaverse in hospitality ¶is and isn’t
In this article, Max Starkov explains that the metaverse, a concept of a 3D virtual world where people can interact with each other and AI agents, is a new medium that is not yet ready for mainstream use. It is a convergence of various technologies, including virtual and augmented reality, and different companies are working on their own versions. However, the metaverse currently lacks a standardized platform and is still in the early stages of...
There have been heated discussions in hospitality about the impact of the metaverse on the industry. From proponents predicting that it will “change everything in travel and hospitality”, to detractors who are skeptical about its immediate value proposition and useful applications.
In my view both sides are somewhat correct: the metaverse is a new medium that needs to be studied and monitored closely, like how the Internet was a new medium back in the mid-1990s. At the same time, let’s face it - the metaverse is not yet ready for prime time.
The Hotel Yearbook 2023 - Annual Edition
As we have embarked on 2023, it is evident that the hotel industry has made a robust recovery from the
pandemic.
Occupancy and pricing have returned to their pre-pandemic levels. However, the future of our
industry is contingent
on how nimble the hospitality sector can be in adapting to ongoing innovation, changing market
conditions, evolving
consumer preferences, new staffing challenges, and sustainability realities. These uncertainties are
the new normal
in an unpredictable world.