The expansion of the middle class is expected to drive mid-market travel, while younger generations and domestic travel trends are on the rise
Nov 7, 2024
A growing middle class, an aging population and a global shift to the East are among the most influential trends in the hotel industry, according to insights from top executives at IHG, Accor, Hilton and Marriott.
Key takeaways
- Chris Nassetta, CEO, Hilton: Emphasized that adapting to changing demographics could drive a new wave of growth, noting, “We’re going to have over five billion people in the middle class by 2030. The growth of the middle class is huge.”
- Anthony Capuano, Marriott CEO: Emphasized that the focus on the middle class is data-driven, supported by extensive consumer spending data collected through Marriott’s branded credit cards.
- Sebastien Bazin, Accor Chairman and CEO: Suggested that luxury hotels should enter destinations later in their development, while the real business is in economy and midscale properties that align with local demographics.
Get the full story at Skift (by subscription only)
