Extensive coverage of news stories specifically curated for travel industry professionals seeking to stay informed about the latest developments, trends, and opportunities in the global hotel sector. The archive provides a comprehensive overview of the industry, covering various aspects of hotel management, operations, guest experience, and marketing. In-depth analysis and expert opinions are presented by Skift editors and contributors, examining the challenges and opportunities faced by hoteliers in different regions and market segments. The archive also highlights the influence of global events, regulations, and changing traveler preferences on the industry.

Get even more news about the business of hotels at Daily Lodging Report .

Four Seasons Continues Its Signing Spree in Saudi Arabia

Saudi Arabia is now one of Four Seasons' largest growth markets.

Josh Corder | 2 hours ago

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Hilton’s Most Luxurious Brand Announces ‘Agritourism Resort’

Up till now, the LXR name has been reserved for private islands and palatial hotels. Now it's going to be used for an upmarket farming retreat.

Josh Corder | 3 hours ago

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Marriott and MGM Resorts Loyalty Tie-Up Goes Live

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Sean O'Neill | 3 hours ago

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Chip Rogers Resigns as CEO of American Hotel & Lodging Association

The sudden departure was a surprise. But Rogers has reason to be proud for how many initiatives the AH&LA effectively pursued under his watch.

Sean O'Neill | 18 hours ago

Chip Rogers Resigns as CEO of American Hotel & Lodging Association

Daily Lodging Report

Choice Hotels Tries Another Time With Wyndham

Choice Hotels issued a press release urging Wyndham stockholders to tender their shares before the March 8 deadline. We would characterize the press release as of begging WH shareholders to threaten they will pull the plug.

18 hours ago

Choice-Wyndham Merger Is a 50/50 Bet: What the Skift Travel 200 Reveals

The market has become less skeptical of Choice's hostile takeover bid for Wyndham, despite many roadblocks. The Skift Travel 200 sheds light on the thinking behind this offer.

Sean O'Neill | 20 hours ago

Choice-Wyndham Merger Is a 50/50 Bet: What the Skift Travel 200 Reveals

Thailand’s Real Estate Outlook

Thailand’s commercial real estate industry is poised to perform strongly in 2024, driven by the ongoing recovery in the country’s tourism market, growing manufacturing sectors, and flight to quality and flight to green movements into prime assets across core sectors.

Chalet Hotels to Acquire Courtyard by Marriott Aravali Resort – India Report

The resort marked Mankind Pharma family's foray into hospitality in 2022. Post acquisition, it is now Chalet Hotels' second property in North India.

Bulbul Dhawan | 2 days ago

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Travel + Leisure Finalizes Accor Vacation Club Acquisition

Travel + Leisure Co. has closed the acquisition of the vacation ownership business of Accor. The deal means the Accor Vacation Club will now be integrated into the Travel + Leisure Co. business structure.

Life House CEO Resigns as Hotel Startup Faces Complaints

Reports suggest that Life House, the startup that Rami Zeidan founded in 2017, is facing a wave of complaints from the hotel owners who use its software and services. A new CEO could give the company a fresh start.

Sean O'Neill | 2 days ago

Life House CEO Resigns as Hotel Startup Faces Complaints

Reimagining the $9 trillion tourism economy—what will it take?

Tourism made up 10 percent of global GDP in 2019 and was worth almost $9 trillion, 1 See “Economic impact reports,” World Travel & Tourism Council (WTTC), wttc.org. making the sector nearly three times larger than agriculture. However, the tourism value chain of suppliers and intermediaries has always been fragmented, with limited coordination among the small and medium-size enterprises (SMEs) that make up a large portion of the sector. Governments have generally played a limited role in the industry, with partial oversight and light-touch management.

COVID-19 has caused an unprecedented crisis for the tourism industry. International tourist arrivals are projected to plunge by 60 to 80 percent in 2020, and tourism spending is not likely to return to precrisis levels until 2024. This puts as many as 120 million jobs at risk. 2 “International tourist numbers could fall 60-80% in 2020, UNWTO reports,” World Tourism Organization, May 7, 2020, unwto.org.

Reopening tourism-related businesses and managing their recovery in a way that is safe, attractive for tourists, and economically viable will require coordination at a level not seen before. The public sector may be best placed to oversee this process in the context of the fragmented SME ecosystem, large state-owned enterprises controlling entry points, and the increasing impact of health-related agencies. As borders start reopening and interest in leisure rebounds in some regions , governments could take the opportunity to rethink their role within tourism, thereby potentially both assisting in the sector’s recovery and strengthening it in the long term.

In this article, we suggest four ways in which governments can reimagine their role in the tourism sector in the context of COVID-19.

1. Streamlining public–private interfaces through a tourism nerve center

Before COVID-19, most tourism ministries and authorities focused on destination marketing, industry promotions, and research. Many are now dealing with a raft of new regulations, stimulus programs, and protocols. They are also dealing with uncertainty around demand forecasting, and the decisions they make around which assets—such as airports—to reopen will have a major impact on the safety of tourists and sector employees.

Coordination between the public and private sectors in tourism was already complex prior to COVID-19. In the United Kingdom, for example, tourism falls within the remit of two departments—the Department for Business, Energy, and Industrial Strategy (BEIS) and the Department for Digital, Culture, Media & Sport (DCMS)—which interact with other government agencies and the private sector at several points. Complex coordination structures often make clarity and consistency difficult. These issues are exacerbated by the degree of coordination that will be required by the tourism sector in the aftermath of the crisis, both across government agencies (for example, between the ministries responsible for transport, tourism, and health), and between the government and private-sector players (such as for implementing protocols, syncing financial aid, and reopening assets).

Concentrating crucial leadership into a central nerve center  is a crisis management response many organizations have deployed in similar situations. Tourism nerve centers, which bring together public, private, and semi-private players into project teams to address five themes, could provide an active collaboration framework that is particularly suited to the diverse stakeholders within the tourism sector (Exhibit 1).

We analyzed stimulus packages across 24 economies, 3 Australia, Bahrain, Belgium, Canada, Egypt, Finland, France, Germany, Hong Kong, Indonesia, Israel, Italy, Kenya, Malaysia, New Zealand, Peru, Philippines, Singapore, South Africa, South Korea, Spain, Switzerland, Thailand, and the United Kingdom. which totaled nearly $100 billion in funds dedicated directly to the tourism sector, and close to $300 billion including cross-sector packages with a heavy tourism footprint. This stimulus was generally provided by multiple entities and government departments, and few countries had a single integrated view on beneficiaries and losers. We conducted surveys on how effective the public-sector response has been and found that two-thirds of tourism players were either unaware of the measures taken by government or felt they did not have sufficient impact. Given uncertainty about the timing and speed of the tourism recovery, obtaining quick feedback and redeploying funds will be critical to ensuring that stimulus packages have maximum impact.

2. Experimenting with new financing mechanisms

Most of the $100 billion stimulus that we analyzed was structured as grants, debt relief, and aid to SMEs and airlines. New Zealand has offered an NZ $15,000 (US $10,000) grant per SME to cover wages, for example, while Singapore has instituted an 8 percent cash grant on the gross monthly wages of local employees. Japan has waived the debt of small companies where income dropped more than 20 percent. In Germany, companies can use state-sponsored work-sharing schemes for up to six months, and the government provides an income replacement rate of 60 percent.

Our forecasts indicate that it will take four to seven years for tourism demand to return to 2019 levels, which means that overcapacity will be the new normal in the medium term. This prolonged period of low demand means that the way tourism is financed needs to change. The aforementioned types of policies are expensive and will be difficult for governments to sustain over multiple years. They also might not go far enough. A recent Organisation for Economic Co-operation and Development (OECD) survey of SMEs in the tourism sector suggested more than half would not survive the next few months, and the failure of businesses on anything like this scale would put the recovery far behind even the most conservative forecasts. 4 See Tourism policy responses to the coronavirus (COVID-19), OECD, June 2020, oecd.org. Governments and the private sector should be investigating new, innovative financing measures.

Revenue-pooling structures for hotels

One option would be the creation of revenue-pooling structures, which could help asset owners and operators, especially SMEs, to manage variable costs and losses moving forward. Hotels competing for the same segment in the same district, such as a beach strip, could have an incentive to pool revenues and losses while operating at reduced capacity. Instead of having all hotels operating at 20 to 40 percent occupancy, a subset of hotels could operate at a higher occupancy rate and share the revenue with the remainder. This would allow hotels to optimize variable costs and reduce the need for government stimulus. Non-operating hotels could channel stimulus funds into refurbishments or other investment, which would boost the destination’s attractiveness. Governments will need to be the intermediary between businesses through auditing or escrow accounts in this model.

Joint equity funds for small and medium-size enterprises

Government-backed equity funds could also be used to deploy private capital to help ensure that tourism-related SMEs survive the crisis (Exhibit 2). This principle underpins the European Commission’s temporary framework for recapitalization of state-aided enterprises, which provided an estimated €1.9 trillion in aid to the EU economy between March and May 2020. 5 See “State aid: Commission expands temporary framework to recapitalisation and subordinated debt measures to further support the economy in the context of the coronavirus outbreak,” European Commission, May 8, 2020, ec.europa.eu. Applying such a mechanism to SMEs would require creating an appropriate equity-holding structure, or securitizing equity stakes in multiple SMEs at once, reducing the overall risk profile for the investor. In addition, developing a standardized valuation methodology would avoid lengthy due diligence processes on each asset. Governments that do not have the resources to co-invest could limit their role to setting up those structures and opening them to potential private investors.

3. Ensuring transparent, consistent communication on protocols

The return of tourism demand requires that travelers and tourism-sector employees feel—and are—safe. Although international organizations such as the International Air Transport Association (IATA), and the World Travel & Tourism Council (WTTC) have developed a set of guidelines to serve as a baseline, local regulators are layering additional measures on top. This leads to low levels of harmonization regarding regulations imposed by local governments.

Our surveys of traveler confidence in the United States  suggests anxiety remains high, and authorities and destination managers must work to ensure travelers know about, and feel reassured by, protocols put in place for their protection. Our latest survey of traveler sentiment in China  suggests a significant gap between how confident travelers would like to feel and how confident they actually feel; actual confidence in safety is much lower than the expected level asked a month before.

One reason for this low level of confidence is confusion over the safety measures that are currently in place. Communication is therefore key to bolstering demand. Experience in Europe indicates that prompt, transparent, consistent communications from public agencies have had a similar impact on traveler demand as CEO announcements have on stock prices. Clear, credible announcements regarding the removal of travel restrictions have already led to increased air-travel searches and bookings. In the week that governments announced the removal of travel bans to a number of European summer destinations, for example, outbound air travel web search volumes recently exceeded precrisis levels by more than 20 percent in some countries.

The case of Greece helps illustrate the importance of clear and consistent communication. Greece was one of the first EU countries to announce the date of, and conditions and protocols for, border reopening. Since that announcement, Greece’s disease incidence has remained steady and there have been no changes to the announced protocols. The result: our joint research with trivago shows that Greece is now among the top five summer destinations for German travelers for the first time. In July and August, Greece will reach inbound airline ticketing levels that are approximately 50 percent of that achieved in the same period last year. This exceeds the rate in most other European summer destinations, including Croatia (35 percent), Portugal (around 30 percent), and Spain (around 40 percent). 6 Based on IATA Air Travel Pulse by McKinsey. In contrast, some destinations that have had inconsistent communications around the time frame of reopening have shown net cancellations of flights for June and July. Even for the high seasons toward the end of the year, inbound air travel ticketing barely reaches 30 percent of 2019 volumes.

Digital solutions can be an effective tool to bridge communication and to create consistency on protocols between governments and the private sector. In China, the health QR code system, which reflects past travel history and contact with infected people, is being widely used during the reopening stage. Travelers have to show their green, government-issued QR code before entering airports, hotels, and attractions. The code is also required for preflight check-in and, at certain destination airports, after landing.

4. Enabling a digital and analytics transformation within the tourism sector

Data sources and forecasts have shifted, and proliferated, in the crisis. Last year’s demand prediction models are no longer relevant, leaving many destinations struggling to understand how demand will evolve, and therefore how to manage supply. Uncertainty over the speed and shape of the recovery means that segmentation and marketing budgets, historically reassessed every few years, now need to be updated every few months. The tourism sector needs to undergo an analytics transformation to enable the coordination of marketing budgets, sector promotions, and calendars of events, and to ensure that products are marketed to the right population segment at the right time.

Governments have an opportunity to reimagine their roles in providing data infrastructure and capabilities to the tourism sector, and to investigate new and innovative operating models. This was already underway in some destinations before COVID-19. Singapore, for example, made heavy investments in its data and analytics stack over the past decade through the Singapore Tourism Analytics Network (STAN), which provided tourism players with visitor arrival statistics, passenger profiling, spending data, revenue data, and extensive customer-experience surveys. During the COVID-19 pandemic, real-time data on leading travel indicators and “nowcasts” (forecasts for the coming weeks and months) could be invaluable to inform the decisions of both public-sector and private-sector entities.

This analytics transformation will also help to address the digital gap that was evident in tourism even before the crisis. Digital services are vital for travelers: in 2019, more than 40 percent of US travelers used mobile devices to book their trips. 7 Global Digital Traveler Research 2019, Travelport, marketing.cloud.travelport.com; “Mobile travel trends 2019 in the words of industry experts,” blog entry by David MacHale, December 11, 2018, blog.digital.travelport.com. In Europe and the United States, as many as 60 percent of travel bookings are digital, and online travel agents can have a market share as high as 50 percent, particularly for smaller independent hotels. 8 Sean O’Neill, “Coronavirus upheaval prompts independent hotels to look at management company startups,” Skift, May 11, 2020, skift.com. COVID-19 is likely to accelerate the shift to digital as travelers look for flexibility and booking lead times shorten: more than 90 percent of recent trips in China  were booked within seven days of the trip itself. Many tourism businesses have struggled to keep pace with changing consumer preferences around digital. In particular, many tourism SMEs have not been fully able to integrate new digital capabilities in the way that larger businesses have, with barriers including language issues, and low levels of digital fluency. The commission rates on existing platforms, which range from 10 percent for larger hotel brands to 25 percent for independent hotels, also make it difficult for SMEs to compete in the digital space.

Governments are well-positioned to overcome the digital gap within the sector and to level the playing field for SMEs. The Tourism Exchange Australia (TXA) platform, which was created by the Australian government, is an example of enabling at scale. It acts as a matchmaker, connecting suppliers with distributors and intermediaries to create packages attractive to a specific segment of tourists, then uses tourist engagement to provide further analytical insights to travel intermediaries (Exhibit 3). This mechanism allows online travel agents to diversify their offerings by providing more experiences away from the beaten track, which both adds to Australia’s destination attractiveness, and gives small suppliers better access to customers.

Government-supported platforms or data lakes could allow the rapid creation of packages that include SME product and service offerings.

Governments that seize the opportunity to reimagine tourism operations and oversight will be well positioned to steer their national tourism industries safely into—and set them up to thrive within—the next normal.

Download the article in Arabic  (513KB)

Margaux Constantin is an associate partner in McKinsey’s Dubai office, Steve Saxon is a partner in the Shanghai office, and Jackey Yu  is an associate partner in the Hong Kong office.

The authors wish to thank Hugo Espirito Santo, Urs Binggeli, Jonathan Steinbach, Yassir Zouaoui, Rebecca Stone, and Ninan Chacko for their contributions to this article.

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  • Hospitality Industry

Hospitality Industry statistics to have on your radar 2024

hospitality industry statistics

November 01, 2023 •

10 min reading

The hospitality industry is a vast sector with many different categories that include recreation, lodging, entertainment, food and beverage which are constantly evolving. Due to the overwhelming amount of data available today, it has become increasingly challenging for industry players to gather all the necessary hospitality statistics to keep up with the latest trends. As a result, staying informed and up-to-date has become an impossible task.

Despite being an exhilarating career path with many avenues which demand a diverse skill-set , the hospitality industry is currently struggling to fill open positions. This is partly due to the changing nature of jobs and employee expectations. Customer needs and expectations have also evolved in recent times, largely off the back of the global pandemic of 2020 and 2021 which spurred a seismic shift in industry trends .

In the absence of access to data which tells a story, industry players are finding it increasingly challenging to optimize their social and digital strategies. This is especially problematic for hoteliers and destination marketers who are already overwhelmed with their day-to-day responsibilities.

In this comprehensive article, we have gathered a wealth of hospitality statistics and data that will equip you with the insights you need. Our goal is to empower you to harness the power of analytics in the hospitality industry to drive innovation, exceed customer expectations, and achieve remarkable value.

Numbers to take your business to the next level

Trends in the hospitality industry have always been in a state of flux because client demands are always shifting.

Understanding hospitality industry statistics allows you to properly equip yourself to handle your changed client needs for your business to grow rapidly in this new environment. They will help you know what you need to do to succeed and come up with strategies to take your business to the next level.

Current state of the Hospitality Industry

By examining general statistics, you can gain insights into the present condition of the hospitality industry and gain a glimpse into its future.

  • The travel industry is poised for a robust comeback
  • in 2024, bringing a ray of hope for hoteliers who have been eagerly awaiting positive signs. Room demand is set to reach an all-time high in 2024. STR, via (CoStar).
  • Hotel occupancy will increase 2.5% globally next year.
  • Hotel average daily rate (ADR) is projected to grow by 4.9% in the next 12 months. ( Siteminder).

The industry anticipates a steady growth rate

Industries such as hospitality, which were affected by COVID-19 safety measures, are seeing some impressive growth rates now that the restrictions are being relaxed worldwide. The statistics below indicate just how impressive the current and future growth rates are.

  • The hospitality industry experienced a remarkable growth from $4,390.59 billion in 2022 to $4,699.57 billion in 2023, achieving a compound annual growth rate (CAGR) of 7.0%. This significant expansion is a testament to the industry's resilience and ability to bounce back from the challenges posed over recent years. ( Hospitality Global Market Report 2023)
  • The projected growth of the global hospitality market is set to soar to a staggering $5,816.66 billion by 2027, with a remarkable compound annual growth rate (CAGR) of 5.5%. ( Hospitality Global market report 2022 )

Growth trends in specific sub-sectors

Due to changes in consumer expectations, preferences and the rapid advancement of technology (among other factors), some areas in the hospitality industry are seeing a bigger growth rate than others. The statistics below shed light on these areas.

  • The Online Food Delivery Market, which includes both Grocery Delivery and Meal Delivery services, experienced significant growth during the COVID-19 Pandemic. This market is projected to continue its upward trajectory with a compound annual growth rate (CAGR 2023-2028) of 11.47%. As a result, the market volume is expected to reach a staggering US$1.79tn by 2028. (Statista).
  • The bleisure market continues to rise —business trips which are extended for leisure purposed. The bleisure tourism market was estimated to be valued at nearly US$ 594.51 billion in 2023, and is predicted to continue to grow to $731.4 billion by 2032, with a CAGR of 8.9% from 2023 to 2032. ( Future Market Insights).
  • The global health and wellness market is estimated to reach almost seven trillion U.S. dollars by 2025. (Statista).

Key stakeholders' market share and consumer influence

Similar to the different growth rates in different areas in the same hospitality industry, not all players in the industry saw the same changes or are seeing the same growth rate. This is due to size, services, products and way of doing business. The statistics below highlight these differences.

  • Airbnb's market value reached $92.11 billion in U.S. dollars in 2023, representing a significant increase from $54.13 billion the previous year. However, it has experienced a decline from its peak valuation in 2021, surpassing a staggering $100 billion. (Statista).
  • Airbnb holds a commanding market share of over 20% in the vacation rental industry but it seems to be declining due to rising rental pricing and overwhelming choice of properties. ( HelpLama).
  • Booking.com is the most valuable travel and tourism brand in the world, with a market capitlization of $9B. ( Companies Market Cap).
  • As of 2023 Hilton is the most valuable hotel brand in the world, with a brand value of $11.7B in 2023, although the Wyndam group has the most properties. ( Brand Directory) .
  • It is estimated that a further 2,707 hotels will open their doors globally in 2024. ( Statista )

Jobs & employment in Hospitality & Leisure

It goes without saying that as travel died down during the pandemic, so did jobs in the hospitality industry. Whilst travel restrictions are firmly a thing of the past, the hospitality jobs market has been slow to bounce back and is still recovering now. Many of those laid off workers in 2020 found more reliable jobs with better perks and more sociable hours elsewhere. When should we expect a full recovery? The statistics answer these questions best.

  • The Travel and Tourism sector is expected to employ approximately 320 million individuals in 2023, showcasing a steady growth trend after experiencing a decline in numbers in 2020. This decline saw employment figures drop from 334 million in 2019 to 271 million. However, the industry is now on the path to recovery, with employment opportunities steadily increasing once again. ( Unilever ).
  • Discover the types of jobs available in this exciting growth sector.
  • Hotels will struggle with staffing shortages until 2025 when the industry is expected to make a true adjusted recovery. ( STR and Tourism Economics )
  • Only 28% of hospitality workers are on full-time hours. ( Labour Market Insights) .

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Travel & Tourism

If 2022 was the year travel returned following the pandemic, 2023 was all about making up for lost time and ticking off bucket list items. In short, there's a healthy outlook to the travel and tourism sector in 2024 and beyond. To better understand the current changes and future of travel and tourism, we have compiled the statistics below.

General Travel & Tourism industry statistics

The general travel and tourism statistics below show the current and future state of the travel and tourism sector as a whole.

  • The projected market volume is set to reach an impressive US$1,063.00 billion by 2028, with revenue expected to display a steady annual growth rate (CAGR 2023-2028) of 4.42%. ( Statista ).
  • By 2028, online sales are projected to account for a staggering 76% of total revenue in the Travel & Tourism market. (Statista).

Growth trends in specific areas

The growth of the travel and tourism sector has been influenced by several factors including ease of access to information, an increase in the amount of paid leave, and rapid urbanization among others. Despite the pandemic slump, the industry is now doing well and is projected to do even better over the next few years, as indicated by the following statistics.

  • Global tourism expenditure is projected to reach USD2 trillion, surpassing previous records driven by the strong demand for leisure travel. ( Euromonitor International ).
  • As employees strive for a better work/life balance, the resurgence of business travel becomes a more intricate affair. In line with this shift, bleisure travel is poised to make a significant impact, with predictions indicating that it will soar to an impressive USD300 billion by 2024. This trend highlights the growing desire among professionals to combine work and leisure, creating a unique and enriching travel experience. ( Euromonitor International ).
  • These 5 countries will be the fastest growing tourism destinations in 2024: Tunisia, Mexico, Morocco, Dominican Republic, and Sri Lanka. (Travel Off Path) .

Domestic vs. international travel

The statistics below help to better understand the "new traveler" whos is most likely planning 2 domestic trips and 2 international trips in 2024.

  • International travel has rebounded post pandemic however going forward into 2024 it's clear that whilst consumer sentiment is very much in favor of international travel, domestic travel is much more budget friendly. ( Travel + Leisure ).
  • Global business travel will fully recover by 2024. It is forecast to increase by 14% in 2022, with the US and China seeing the largest growth (30% each). ( Leslie Josephs )

Air, cruise & ground transport

The widespread adoption of the internet as a source of information, the ease of mobility and increased awareness of new destinations have brought significant changes to how consumers travel. The statistics below show how much travel has changed and what to expect.

  • Global flight numbers were still below pre-pandemic levels at the end of 2023. According to the International Air Transport Association, global airlines anticipate that approximately 4.35 billion individuals took flights in 2023, a slight decrease from the 4.54 billion flyers in 2019.
  • In the global airline industry, it was anticipated that 2023 brought in net profits of $9.8 billion, although these profits will come with a razor-thin net profit margin of 1.2%. ( Mint )
  • Rail transport is set to experience exponential growth in 2024, emerging as the fastest-growing travel category worldwide with an impressive growth rate of 35.6% over the course of 2023-2024. ( Euromonitor International ).
  • According to some travel experts, fly-to-the-meeting and fly-back-from-the-meeting day trips will stop being popular as more people prefer multi-day bleisure trips. ( SAP Concur Study of Global Business Traveler )

Jobs & employment in Travel & Tourism

As it was with all other sectors and industries, the travel and tourism sector experienced a labor shortage in 2023, but will it continue?

  • Jobs in travel and tourism were still below pre-pandemic levels at the end of 2023 at a projected 320 million jobs. But with the growing demand for travel, jobs in this sector are set to rise to 430 million by 2033. ( Statista ).
  • Candidates for these open positions have different expectations and priorities compared to those before the pandemic. They expect flexible working arrangements, skills training, and diversity and inclusion. Hotels will have to adapt to fill open positions. ( AHLA )
  • New positions are opening up that are centred around digitalization, technology and sustainability .

Demographic statistics: Who's travelling in 2024?

Different segments play different roles in the travel and tourism industry. To fine-tune your digital strategy, you have to know your target market well and understand what they expect when they travel. Here are a few stats that show some key domgraphics that may be relevant to your business.

  • In the modern era, travel has become increasingly digitalized, with 67% of consumers projected to make their travel bookings online in the year 2024.
  • An interesting trend among post-pandemic travelers is the shift towards a younger demographic, with millennials (aged 30-44) comprising the largest portion of Wellness Worshippers, Leisure Seekers, Luxury Seekers, and Digital Travelers, as revealed by Euromonitor's Voice of the Consumer: Travel Survey. This highlights the changing preferences and behaviors of travelers in the modern era.
  • Luxury Seekers are most commonly found in countries across the Middle East and Asia Pacific, while Eco-Adventurers tend to be prevalent in both Asia Pacific and Europe. On the other hand, Cultural Explorers are predominantly found in various countries throughout Europe.
  • There is expected to be a 15% growth in sales of sports tourism packages sold through travel intermediaries from 2023 to 2024. ( Euromonitor International ).

Hospitality & Travel is evolving at speed

In 2024, the hospitality and travel sectors will be evolving at a rate of knots. Vacant positions and shifting consumer preferences define the landscape. Seamless online booking is now a necessity, just the beginning of a guest-centric approach. Elevating the experience means personalized on-site services, setting leaders apart.

Yet, beyond technology lies a deeper need—embracing diversity and inclusion as fundamental values. To cater to the evolving traveler, a blend of high-tech solutions and high-touch experiences aligning with their beliefs is vital. Statistics serve as signposts in this transformative journey. Adaptability is the key to survival, while a comprehensive guest journey and commitment to diversity steer success.

Amidst change, strategies demand recalibration. Embrace adaptability, shape a holistic guest experience, and embed diversity and inclusion into your brand. These principles navigate the industry toward leadership in the evolving hospitality and travel landscape of 2024.

EHL Insights

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The Caterer

Budget 2024: key points for hospitality at a glance

The hospitality industry has been left disappointed by this year's Budget, which failed to deliver the hoped-for cut in VAT.

Chancellor Jeremy Hunt today set out his tax and spending plans in what is expected to be the last Budget before the next general election.

Here are some of the key announcements:

Alcohol duty

The freeze on alcohol duty, which had been due to end in August, will continue until February 2025. Hunt said the tax would otherwise rise by 3% and claimed the move would benefit 38,000 pubs across the UK.

"We value our hospitality industry and are backing the great British pub," he said.

However, the British Institute of Innkeeping (BII) warned the freeze would not be enough to help struggling landlords, who had seen "huge inflation in every area of their business".

VAT threshold

The amount small businesses can earn before they must register to pay VAT will rise from £85,000 to £90,000 from April, the first time the rate has increased in the past seven years.

Hunt said the move would mean tens of thousands of businesses would no longer have to pay VAT.

UKHospitality chief executive Kate Nicholls tweeted that the increase "may help some micro businesses or highly seasonal independents" but said a reduction in the headline rate of VAT would have done more to unlock growth.

Holiday lets

Tax relief for properties let out as furnished holiday homes will be scrapped from April 2025.

The move is designed to clamp down on Airbnb-style lets and make it easier for local people to find homes in their local community.

"Closing tax loopholes on furnished holiday lettings will level the playing field between traditional self-catering businesses – which are regulated and taxed – and other short term lets," Nicholls wrote on X.

Air passenger duty

The chancellor announced an increase in air fares for business-class travellers in a bid to raise revenue for the Treasury.

Air passenger duty on business-class travel is set to rise in a move expected to provoke a backlash from airlines. The tax is charged at different levels, with a reduced rate for economy travellers and a higher rate for private jets.

National Insurance

The headline announcement was that National Insurance will be cut by two percentage points from 6 April, meaning the tax will drop from 10% to 8% for employees and from 8% to 6% for the self-employed.

Hunt said the average employee will end up with an extra £450 in their pocket over a year.

What was missing?

There was no reduction in the 20% headline rate of hospitality and tourism VAT, despite a long-running campaign from trade bodies and business owners.

The issue has also gained support in Parliament, and more than 40 MPs signed a letter to the chancellor calling for greater support for hospitality last month.

The chancellor also failed to reintroduce the VAT rebate for international tourists, despite hoteliers and travel industry bosses warning the decision to end the scheme had discouraged travellers from visiting the UK.

The Treasury withdrew from the VAT retail export scheme in January 2021 following Brexit. This means tourists from non-EU countries are no longer eligible for a refund on sales tax, which they would have paid over the course of their stay.

There was also no redress of planned controversial changes to the way wine is taxed, which are due to come into force in February 2025. This will see one rate of duty replaced by up to 30 different payable amounts from £2.45-£3.10 per bottle.

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putting fhrai ihm back on the right track

Putting FHRAI-IHM back on the right track

When the FHRAI leadership wanted to revive its hotel management school at Greater Noida in 2021, ending a few years of indecision and uncertainty, the responsibility was given to veteran hospitality academician and administrator, Arun Kumar Singh. In the last three years, using his experience and acumen, Singh has turned the institute around despite various adversities.

A slice of paradise near Gangtok

a slice of paradise near gangtok

20 hotel openings on the card for Concept Hospitality this year: Suhail Kannampilly

20 hotel openings on the card for concept hospitality this year suhail kannampilly

We are not in the business of ‘unbuilding’: Randal Whelpdale

we are not in the business of unbuilding randal whelpdale

“At The Grammar Room we are leaning into our roots and fusing them with global trends”

at the grammar room we are leaning into our roots and fusing them with global trends

Revivo Technology aims to onboard 5000 hotels on the Hotel X platform by the end of 2024

revivo technology aims to onboard 5000 hotels on the hotel x platform by the end of 2024

We have been bestowed with great occupancy: Harkaran Singh

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FHRAI to set up a centre of excellence to power evidence-based policy advocacy

fhrai to set up a centre of excellence to power evidence based policy advocacy

We will continue to grow along with north Bengaluru: Manish Garg

we will continue to grow along with north bengaluru manish garg

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There is no better time to join hospitality: Vikramjit Singh

There is no better time to join hospitality: Vikramjit Singh

Megumi, a luxury Japanese pan-Asian restobar, opens in Bandra, Mumbai

Megumi, a luxury Japanese pan-Asian restobar, opens in Bandra, Mumbai

Sarovar Hotels to introduce HOSHO, a new brand, along with an ‘affiliate’ model for expansion

Sarovar Hotels to introduce HOSHO, a new brand, along with an ‘affiliate’ model for expansion

Ghost Kitchens India secures USD 5 million in Series-A funding

Ghost Kitchens India secures USD 5 million in Series-A funding

Vidli Restaurant Ltd to restructure and diversify through Eco Hotels Group share swap

Vidli Restaurant Ltd to restructure and diversify through Eco Hotels Group share swap

Tourism ministry proposes a third-party star classification ecosystem for hotels

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The collection features 100 hotels across 10 major cities and includes OYO’s top-performing hotels, delivering consistently on pivotal parameters such as customer ratings, smooth check-in experience and low cancellations.

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Fly91 gets DGCA approval to start flights

The airline aims to start flights by this month with two ATR-72 aircraft. It has won rights to operate flights from Sindhudurg, Jalgaon, Nanded and Agatti Lakshadweep to Bengaluru, Goa, Hyderabad and Pune under the government's regional connectivity scheme.

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Almost 30 percent women travellers toured solo in 2023, reports Airbnb

The company says the growing community of women hosts and guests play a vital role in the hospitality sector.

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Airports in Jyotiraditya Scindia’s Guna & Shivpuri in MP to be developed under UDAN

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Guwahati's JettWings Airways gets nod to fly in 12 sectors in various states

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PAUL, the French culinary brand, opens its newest outlet in Kopa Mall, Pune

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Singapore greenlights Air India-Vistara merger

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JW Marriott Bengaluru Prestige Golfshire appoints Peeyush Sinha as director F&B

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Ascott aims to grow in India in their own unique way

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Assam to introduce ‘tourist police’ for security of visitors

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IRCTC onboards Swiggy as a food delivery service partner

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FSSAI verifies McDonald’s India uses 100% real cheese: Westlife Foodworld

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IHCL announces Vivanta hotel in Ujjain

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Accor Showcase 2024 concludes in Delhi and Mumbai

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Cerana Meads launches one-of-a-kind mead taproom in Nashik

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16th edition of Culinary Art India to showcase excellence at AAHAR 2024

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Park Hotels Q3 Results: Cons PAT soars 46% YoY to INR 27.4 crore, sales up 14%

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World Sustainable Travel & Hospitality Awards Advisory Board unveils categories ahead of inaugural ceremony in Belize on World Tourism Day 2024

WSTHA

Global entries to the Awards will be invited from 18 March.

The World Sustainable Travel & Hospitality Awards (WSTHA) has unveiled 21 categories for its inaugural global programme, which aims to recognise and share the stories of individuals and organisations making an impactful contribution in sustainable travel and tourism.

The categories have been selected by an Advisory Board made up of 11 leaders in sustainable travel and tourism to reflect the UN’s Sustainable Development Goals (SDGs) and net positive framework of People, Planet, Place, Prosperity and  Partnerships.

The categories range from conservation, energy efficiency and community engagement to education and leaders of tomorrow. Three categories will be open to Belize-based individuals and organisations.

The announcement was made at ITB Berlin by Evan Tillett , Director of Tourism, Belize Tourism Board , the Official Host Destination of the inaugural WSTHA Gala Ceremony, which will be held on 27 September 2024.

Justin Cooke , Executive Vice-President, WSTHA says: “ It is often said that we do not inherit the earth from our ancestors, we borrow it from our children. With the help of our incredible Advisory Board we hope that these categories reflect the breadth and depth of the sustainable travel and hospitality sector, enabling us to recognise and tell the stories of those accelerating change and making a sustainable impact on our planet for the next generation.”

As Official Host Destination of WSTHA 2024, Belize holds responsible tourism at its core and develops projects that encourage travellers to engage with its rainforests, reefs and unique culture in a sustainable manner. This includes developing sustainable initiatives such as creating community-based tourism clusters that preserve Indigenous Communities. Belize is also internationally recognised for the preservation of its UNESCO World Heritage Site, The Belize Barrier Reef, the second largest reef globally, home to hundreds of species of coral and fish.

Anthony Mahler , Minister of Tourism, Belize, adds: “The Advisory Board, WSTHA and Belize have been working together to ensure the categories recognise, celebrate and showcase the stories of organisations and individuals that are making significant steps in sustainable travel and tourism. The 21 categories are extensive and also includes three categories that are open to submissions from Belize, including cultural heritage, marine conservation and community engagement – three areas that Belize holds at the core of our tourism model and is leading the way in.”

The WSTHA programme is run in partnership with the Sustainable Hospitality Alliance with CEO, Glenn Mandziuk , also serving as Vice-Chair on the WSTHA Advisory Board.

Glenn Mandziuk, CEO, the Sustainable Hospitality Alliance, comments; “In an era where sustainability is not just a choice but a necessity, it is crucial to highlight and celebrate the remarkable initiatives and accomplishments within our sector. The awards categories announced today reflect on the cornerstone elements of our Net Positive framework, honouring those who are making a substantial impact and driving change in sustainable travel and tourism. As WSTHA Vice-Chair of the Advisory Board, I am privileged to collaborate with industry leaders, and eagerly anticipate sharing the achievements that tell the important narratives of sustainable progress.”

In another world first for the Awards, entries will be analysed and vetted by students of sustainable business from the Nova School of Business and Economics in Lisbon.

Graham Miller , Professor of Sustainable Business, Nova School of Business and Economics, says: “I am delighted that students from Nova School of Business and Economics are able to support these awards. Having future leaders involved in reviewing applications from current leaders is an excellent example of collaboration across generations and widening the diversity of how decisions are made.”

The WSTHA Advisory Board comprises leading authorities, academics and dignitaries in driving net positive hospitality. Members include Chris Imbsen , World Travel & Tourism Council ; Susan Hooper , Chapter Zero ; Juha Jarvinen , Virgin Atlantic ; Patricio Azcárate Díaz de Losada , Responsible Tourism Institute ; Fran Brasseux , International Council on Hotel, Restaurant & Institutional Education ; Hon. Anthony Mahler, Belize; Prof. Dr. Willy Legrand , IU International University of Applied Sciences Germany ; Isabel Novoa , International Social Tourism Organization ; Prof. Graham Miller , Nova School of Business & Economics , Lisbon; Xenia zu Hohenlohe , The Sustainable Markets Initiative .

Vicky Karantzavelou

Vicky Karantzavelou

Vicky  is the co-founder of TravelDailyNews Media Network where she is the  Editor-in Chief . She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

  • Vicky Karantzavelou https://www.traveldailynews.com/author/vicky-karantzavelou/ WTTC launches roadmap to guide businesses through the jungle of sustainability reporting in Travel & Tourism
  • Vicky Karantzavelou https://www.traveldailynews.com/author/vicky-karantzavelou/ Mews and Amadeus extend partnership to expand the hospitality technology ecosystem
  • Vicky Karantzavelou https://www.traveldailynews.com/author/vicky-karantzavelou/ Opening of Santo Domingo Marriott Hotel Piantini
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Russian floating nuclear power plant set for first refuel

The new Russian nuclear power plant, named Akademik Lomonosov, is the only floating one of its kind in the world.

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Nuclear fuel has been delivered to the world’s first floating nuclear power plant, which is located in Pevek in the Chukotka region of north-east Russia. The plant, named Akademik Lomonosov, supplies heat and power to the town and is based on two KLT-40S reactors generating 35MW each.

The fuel was delivered to the site by TVEL, Rosatom’s fuel division, via the Northern Sea Route and manufactured by TVEL’s Elektrostal Machine-Building Plant in the Moscow region.

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According to TVEL, unlike land-based reactors that require replacement of a proportion of their fuel rods every 12–18 months, “the refuelling takes place once every few years and incudes unloading of the entire reactor core and loading of fresh fuel into the reactor”. As such, there can be up to three and a half years between refuelling.

Akademik Lomonosov first became operational in December 2019. At the time the reactor was seen as a pilot project for a future fleet of floating nuclear power plants and onshore installations based on Russian-made small modular reactors. Due to their functionality, they are intended for deployment in disparate areas of Russia’s north and far-east. The operable reactor was named after 18 th century Russian scientist Mikhail Lomonosov , who was the first native Russian to be appointed to the Academy of Sciences in St. Petersburg in 1742.

The plant is 144m long and 30m wide. It supplies electricity to the town of Pevek, which has a population of around 4,000, but could potentially supply a city of up to 100,000 people. Rosatom is currently constructing four floating power units, which it plans to export.

In June, Andrey Nikipelov, Rosatom’s deputy director-general for mechanical engineering and industrial solutions, said : “In addition to environmental friendliness and stable operation, floating nuclear power units are able to provide energy independence – both from the main power grids and, in a broader sense, protection from the volatility of energy markets… floating power units have great commercial potential both in Russia and abroad.”

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Newsweek

Strange Glow Over Moscow Skies Triggers Panic as Explosions Reported

B right flashes lit up the night sky in southern Moscow in the early hours of Thursday morning, new footage appears to show, following reports of an explosion at an electrical substation on the outskirts of the city.

Video snippets circulating on Russian-language Telegram channels show a series of flashes on the horizon of a cloudy night sky, momentarily turning the sky a number of different colors. In a clip shared by Russian outlet MSK1.ru, smoke can be seen rising from a building during the flashes lighting up the scene.

Newsweek was unable to independently verify the details of the video clips, including when and where it was filmed. The Russian Ministry of Emergency situations has been contacted via email.

Several Russian Telegram accounts said early on Thursday that residents of southern Moscow reported an explosion and a fire breaking out at an electrical substation in the Leninsky district, southeast of central Moscow.

Local authorities in the Leninsky district told Russian outlet RBC that the explosion had happened in the village of Molokovo. "All vital facilities are operating as normal," Leninsky district officials told the outlet.

The incident at the substation in Molokovo took place just before 2 a.m. local time, MSK1.ru reported.

Messages published by the ASTRA Telegram account, run by independent Russian journalists, appear to show residents close to the substation panicking as they question the bright flashes in the sky. One local resident describes seeing the bright light before losing access to electricity, with another calling the incident a "nightmare."

More than 10 villages and towns in the southeast of Moscow lost access to electricity, the ASTRA Telegram account also reported. The town of Lytkarino to the southeast of Moscow, lost electricity, wrote the eastern European-based independent outlet, Meduza.

Outages were reported in the southern Domodedovo area of the city, according to another Russian outlet, as well as power failures in western Moscow. Electricity was then restored to the areas, the Strana.ua outlet reported.

The cause of the reported explosion is not known. A Telegram account aggregating news for the Lytkarino area described the incident as "an ordinary accident at a substation."

The MSK1.ru outlet quoted a local resident who speculated that a drone may have been responsible for the explosion, but no other Russian source reported this as a possible cause.

Ukraine has repeatedly targeted Moscow with long-range aerial drones in recent months, including a dramatic wave of strikes in late May.

On Sunday, Moscow Mayor Sergei Sobyanin said the region's air defense systems had intercepted an aerial drone over the city of Elektrostal, to the east of Moscow. No damage or casualties were reported, he said.

The previous day, Russian air defenses detected and shot down another drone flying over the Bogorodsky district, northeast of central Moscow, Sobyanin said.

There is currently no evidence that an aerial drone was responsible for the reported overnight explosion at the electrical substation in southern Moscow.

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Stills from footage circulating on Telegram early on Thursday morning. Bright flashes lit up the night sky in southern Moscow, new footage appears to show, following reports of an explosion at an electrical substation on the outskirts of the city.

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