Automatic - 10 Minutes News for Hoteliers - Page 274

How “shoulder season” became popular with tourists

Travel companies are experiencing a rise in demand for off-season vacations between March-May and September-October to avoid heat waves and overcrowding. The Mastercard Economics Institute's report, based on transaction data, shows a 1.8 percentage point increase in off-season stays in the EU over the past decade, with notable shifts in Mediterranean destinations such as Croatia and Sweden.

1 min

U.S. summer travel highlights economic divide

🏖️ On July 4, 2024, a New York Times report highlighted the economic disparity in the U.S. through summer travel trends. Wealthier Americans, buoyed by a strong stock market and rising home values, maintain travel spending despite inflation. In contrast, lower-income families face economic strain, even with a strong job market and increased wages for low-income workers. This divide is apparent as luxury hotels thrive, while budget chains anticipate declines. Summer travel showcases the widening income gap, with affluent households more likely to travel.

1 min

IATA: Air traffic demand up 10.7% in May

🛫 The International Air Transport Association (IATA) reported a 10.7% rise in global air traffic in May 2024 compared to May 2023. Capacity increased by 8.5%, with a record May load factor of 83.4%. International travel surged 14.6%, with capacity up 14.1% and load factor at 82.8%. Domestic demand grew by 4.7%, while capacity slightly rose by 0.1%, resulting in an 84.5% load factor.

7 min

Hospitality Technology Trends: How AI Is Revolutionizing Hotel Revenue Management

The hospitality industry is increasingly utilizing AI and machine learning technologies to enhance guest experiences, revenue optimization, and overall operations. The evolution of revenue management systems (RMS) has enabled automated, data-driven strategies that are transforming hotel operations, with sophisticated tools like G3 RMS proving successful in achieving significant year-over-year revenue increases.

1 min

Latest threats and best practices for securing guest data

A new Shiji white paper released on July 3, 2024, examines the heightened cybersecurity risks in the hospitality industry due to increased technology use, emphasizing the need to safeguard guest data and adapt to complex business models. It outlines key challenges such as legacy system vulnerabilities, cloud migration, securing payment data, and the intricacies of cybersecurity training and oversight.

Hotels, OTAs and DMA

HOTREC's 2024 Hotel Distribution Study shows an increase in the OTA market share in the European hotel sector from 19.7% in 2013 to 29.6% in 2023, with Booking Holdings, Expedia Group, and HRS dominating 90% of the market. The study, published on July 3, 2024, highlights the need for the Digital Markets Act to ensure fair treatment of hoteliers and reports that OTAs affect pricing and availability for 40% and 44% of hotels, respectively.

Paris hotels face low demand as Olympics approach

Paris hotels are experiencing a 25% drop in occupancy rates ahead of the Summer Olympic Games, with Ze Hotel in Montmartre at 50% capacity versus the usual 80%, attributed to costly conditions related to the Olympics. While tourists await last-minute price drops, "Paris je t'aime" anticipates most Olympic visitors between July 26 and August 11 will be from France.

What’s a world without Airbnb?

🌃 Barcelona to ban short-term rentals by 2028. New York City requires registration and host presence during short-term stays starting September 2023. Berlin imposed a ban in 2014 but reinstated rentals with strict rules in 2018. Santa Monica and other California cities restrict or ban these rentals. Airbnb leads the market with over 50% of online bookings. The industry faces global scrutiny to balance tourism and local community needs. Full story on BBC.

How to diversify hotel revenue

On July 3, 2024, guidance on diversifying hotel revenue was published, providing strategies to reduce business risks by not relying solely on room income. Key strategies include capturing blended travel, considering space as a resource, building a community, investing in food and beverage, maximizing upsells, offering unique experiences, and using hotel technology like Open APIs, security and payments systems, and data and AI.

1 min

Business travel rebounds even as companies cut costs

📈 On Jul 3, 2024, BCD Travel survey shows 60% of travel buyers report reduced corporate travel budgets, with 96% implementing cost controls. Despite cutbacks and a non-materializing recovery in 2023 due to tech layoffs and travel freezes, business travel is up. The US sees financial improvements, while Nordic markets thrive and Central Europe lags, affecting regional travel. Hotel rate hikes push companies towards economical lodging.

Input your search keywords and press Enter.