Seemingly every company in the hospitality sector is marketing themselves as an experience versus a product because travelers today are no longer content with just being a tourist. They want to be fully immersed in the destination and engage in authentic cultural activities.
Hotel Distribution is arguably the big topic of the near term. Expedia Group and Booking Holdings (previously Priceline) are the two big online travel agencies (OTAs), dominating well over 70% of OTA market share.
Reading forecast content from the plethora of prognosticators out there can drive one into craziness. Clearly, the current economy has strengths like consumer confidence, employment levels, low oil/gas prices, and purchasing managers sentiments as expressed by the Institute of Supply Management (ISM).
Many of us who attended The Lodging Conference this past month heard Bernard Baumohl, Chief Economist for the Conference Board, provide his economic forecast. He covered topics in his usual fast, effective and entertaining style.