The Metaverse is Gone, and the Dream With It

The concept of the Metaverse has generated a lot of buzz and discussion, but it can be challenging to separate fact from fiction in the midst of all the hype. While some predictions may seem far-fetched, there's no denying that the idea of a virtual world has captured the imagination of many. However, the main question stands: is this attention really deserved?

1. The world is in metaverse denial, and no one wants to admit that they were caught up in it.

That unpleasant popping sound is likely to be heard before the end of this year. Starved for cash, many metaverse companies will try to raise fresh funds by issuing more stock or bonds. But a lot of them will fail. As a result, many cash-strapped metaverse firms are scrambling to find financing: an exclusive study conducted by Pegasus Research International indicates that at least 51 metaverse firms will burn through their cash within the next 12 months. This amounts to a quarter of the 207 companies included in the study.

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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.