Hotel forecasting: why it is important to your business
This can affect both demand and revenue for hotels. ... Sample size and its effects on forecast performance The number of properties included in a forecast can influence results.
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Virtuoso® and Globetrender reveal Luxury Travel Trends to watch in 2025
Virtuoso®, the leading global network specialising in luxury and experiential travel, has partnered with travel trend forecasting agency, Globetrender, to unveil the Luxury Travel Trend Watch: 2025. ... With one in eight Virtuoso clients travelling for wellness, demand for specialised treatments is soaring.
2024 Global Midyear Hotels Outlook
Tourists from the U.S. will remain a key source of hotel demand; however, travel from this market is expected to soften in the near-term, dampening hotel demand. ... demand shocks.
Accor and The Summary Executive Properties, Sign Landmark Deal for Swissôtel’s very first stand-alone Branded Residences project
Meeting Dubai's growing demand for stand-alone branded residences, Swissôtel Waterfront Residences at Dubai Islands will occupy a prime location in Nakheel's upcoming master planned development. ... Swissôtel Waterfront Residences at Dubai Islands is the latest in Accor's growing portfolio of branded residences, with the world leading hospitality group forecasting continued growth for developments
Hotel sustainability: Challenges and solutions
Climate change risks are not seen as critical Despite the forecasts, external pressure, and growing customer demand for sustainable practices, many hotel operators don’t see the potential risk of not complying ... Many countries with the highest predicted levels of water stress for the coming years are also forecast to see the greatest tourism growth, putting hotels at the forefront of the critical battle for sustainable
Small Voices, Big Choices: How Generation Alpha Takes The Lead in Family Travel Planning
These findings highlight the strong and growing demand for travel among younger generations. ... *Generation Alpha, aged 14 and younger, accounts for 23% of Asia’s population, while Generation Z, born between 1997 and 2012, are forecasted to represent 25% of the region’s population by 2025.
The UN Pact For The Future – And Its Impact On The Hospitality Sector
Opportunities : Businesses that actively adopt ESG frameworks could benefit from increased consumer demand for ethical and eco-friendly travel experiences. ... AI and Automation : AI-driven solutions for personalized guest experiences, demand forecasting, and automated services (e.g., contactless check-ins) will become more prevalent, improving operational efficiency
By Terence Ronson, Founder & Managing Director, Pertlink Limited
IHG Leads Business Travel Decarbonization Discussion at Climate Week NYC
According to GBTA’s 2024 Global Business Travel Index Forecast report, global business travel expenditures are expected to hit a record $1.48 trillion USD in 2024, and exceed $2 trillion by 2028. ... Leaders today must balance competing demands and tensions while transforming their businesses to meet the challenges of the Climate Era, and there are no easy solutions.
Titanic Hotels Selects IDeaS G3 RMS to Maximize Revenue Across German Property Portfolio
Additionally, Titanic Hotels’ ability to accurately forecast demand at a granular level was limited, affecting price decision-making and their ability to capture an optimal mix of demand.
IHG and GBTA Foundation Convene Sustainability Leaders Deliberating Decarbonization of Business Travel
According to GBTA’s 2024 Global Business Travel Index Forecast report, global business travel expenditures are expected to hit a record $1.48 trillion USD in 2024, and exceed $2 trillion by 2028. ... According to GBTA’s 2024 Global Business Travel Index Forecast report, global business travel expenditures are expected to hit a record $1.48 trillion USD in 2024, and exceed $2 trillion by 2028.
Using Data to Navigate Operational Challenges in Hospitality
Forecasting for Better Operational Planning If the last few years have taught us anything, it’s that the future is unpredictable. ... But hotels that embrace forecasting through data analytics are better prepared for whatever comes next.
By Corey McCarthy, Chief Marketing Office (CMO), Unifocus
Top 4 Reasons Why Leading Hoteliers Are Increasing Tech Spend in 2025
Considering the high workloads faced by staff and the demands for growth and superior service, modernizing outdated systems is indispensable. ... By utilizing data analytics and AI-driven revenue management, hoteliers can provide real-time pricing recommendations, forecast demand, and manage inventory effectively, thus driving revenue growth and
By Joe Vargas, SVP & General Manager, Infor Hospitality, Infor
Why Hospitality Technology Integrations Are Key to Driving Innovation
Corporate Performance Management (CPM): This includes vital systems for accounting , budgeting , and forecasting . ... Revenue Management Systems (RMS): Mainly integrated with the PMS and CRM, the RMS helps hotels adjust pricing dynamically based on demand, occupancy rates, and competitor analysis.
By Jennifer Mays, Head of Partnerships, Otelier
Hotel performance in 2024 - An unpredictable market with silver linings
One key trend this year has been the overall drop in demand for hotel rooms. ... This short lead time makes it difficult for hoteliers to forecast demand. Weather has also played an influential role, especially in the UK.
Top 10 Trends in the Hospitality Industry in 2024
But there is no reason this should be the case: demand drives prices, not production costs. Fine wines attract wealthy people, collectors and investors. ... Finally, it enables hotels to increase revenue through more accurate yield and revenue practices by better forecasting demand and thus offering more dynamic pricing strategies. 10.
Global Business Travel and Events Costs Moderating in 2024, With Continued Modest Increases in 2025
Smaller increases are anticipated in EMEA and NORAM as leisure demand softens. ... Leveraging forecast projections, the Forecast Calculator provides a personalized assessment of travel spend, tailored to each organization’s unique travel patterns and objectives.
Balancing Innovation with Human Connection
Rather than reacting to occupancy changes or last-minute staffing needs, hotels can forecast these events and prepare in advance. ... Predictive technologies will allow hotels to anticipate demand, forecast guest needs, and optimize operations in ways that were previously unimaginable.
By Moneesh Arora, Chief Executive Officer, Unifocus
Boosting Hotel Profits with BI: Key Insights from Industry Experts
In the current hospitality landscape, hoteliers face the challenge of balancing rising costs and flatlining demand while still striving for profitability. ... Forecasting & Demand Management: Otelier’s Johnson discussed the importance of leveraging forecasting tools to accurately predict demand.
By Jason Q. Freed, Hospitality Data Evangelist, Otelier
Where Your Hotel’s Finance Team Should be at this Point in Budget Season
season; finance teams must consistently monitor the hotel's performance throughout the year against the budget as the hotel industry is easily affected by economic factors and the results of guest demand ... By analyzing performance data, financial data from different departments, and market conditions, your team can review trends that are valuable in creating your property's budget and financial forecasts
By Jill Wilder, President, Aptech
Nordic Capitals Maintain Moderate Hotel Revenue Growth in 2024
This momentum has not stopped; factors such as inflation and the resurgence in demand have propelled hotels to record highs, surpassing industry expectations in both revenue and occupancy. ... Forecasting the Future While growth in the Nordic hotel market has moderated, the trend remains positive and promising.