Market Trends - 10 Minutes News for Hoteliers - Page 138

2 min

Restaurant concepts are driving shopping malls’ comeback

🍝 Mall visits, including indoor malls, open-air shopping centers, and outlet malls, are on the rise, with Q1 2024 visits to open-air centers surpassing 2019 levels for the first time post-pandemic. Data from Yelp shows a 7% growth in restaurant concepts in malls from 2019 to 2024, with bubble tea store numbers shooting up by 113%. Top mall food brands by consumer interest include Cheesecake Factory, Din Tai Fung, and BJ’s Restaurant and Brewhouse. Other growing food categories are waffles (up 77%), vegan food (54%), and Filipino food (36%).

1 min

CoStar: Thanksgiving Calendar Shift Positively Impacts U.S. Hotel Performance

🏨 In the week of November 17-23, 2024, the U.S. hotel industry witnessed an occupancy increase of 20.7% to 59.7%, ADR rose by 8.6% to $150.49, and RevPAR grew by 31.1% to $89.80, year-over-year, partly due to a calendar shift of Thanksgiving. Seattle led with a 62.9% occupancy increase, while Chicago saw the largest ADR and RevPAR increases, 43.8% ($181.36) and 113.7% ($127.91) respectively. Only Oahu experienced a RevPAR decline of 22.7% to $176.10.

5 min

Gluten-free, high-protein dosas are growing in popularity on restaurant menus

🥘 Chef Jay Kumar of Lore in Brooklyn, N.Y., creates classic dosas made from a fermented rice and lentil batter with fenugreek, offering a vegan, gluten-free, high-protein meal. Dosas, with a 15% increase on appetizer menus, are on nearly 1% of menus. Lore serves masala dosas and uttapam with a Swiss-inspired mushroom ragout. Tapori, opening in Washington D.C. in January, will feature dosas with innovative fillings like spiced potato and cheese, and curried crab. Dosas are now popular in both South and North India and in Pakistan.

1 min

Marketing Trends 2025

💸 Kantar’s Brand Inclusion Index 2024 reveals that nearly 80% of people globally, especially Gen Z, Millennials, LGBTQ+, and those with disabilities, consider a brand’s diversity and inclusion efforts when making purchases. High-growth, underserved populations prioritize these values even more, with 89% in emerging economies versus 71% in developed markets. By 2050, 1 in 4 individuals will be African, highlighting the need for brands to adapt to a diversifying customer base in 2025. - Valeria Piaggio & Ndeye Diagne.

1 min

Lemongrass Annual Travel Trend Report 2025

🏖 Over the past year, the tourism industry embraced changes like combating overtourism, integrating technology, shorter getaways, and lifestyle shifts for extended travel. Travel trends predicted for 2024 have become common, despite economic challenges and artificial intelligence advancements. The industry continues to adapt to societal trends and environmental concerns.

5 min

Debunking Common Misconceptions about Revenue Management Systems

💸 Debunking common misconceptions about Revenue Management Systems (RMS), key facts reveal that: 1) perceived high costs are offset by increased revenue and efficiency, 2) modern RMS offer advanced features like real-time pricing and integration with Property Management Systems, 3) implementation is quick with user-friendly interfaces, 4) RMS benefits small properties by optimizing pricing, 5) they require minimal expert oversight, 6) travelers accept dynamic pricing, 7) training is minimal and support is available, 8) RMS reduces staff workload. RMS empowers all property sizes in a competitive market.

3Natives Partners with GiftAMeal

📈 In November 2024, U.S. restaurants saw an 8.1% increase in total sales and an 8.7% increase in foot traffic. The Fiserv Small Business Index for Food Services and Drinking Places was 131, a 4-point increase from October. Retail's year-over-year sales grew by 5.6%, with transactions up 9.5%. Grocery (+11.1%), General Merchandise (+11.0%), and Clothing, Shoes, and Jewelry Retailers (+7.3%) led retail growth. Service-based businesses saw a 5.1% sales increase from 2023. Nebraska (13.1%), Florida (11.5%), and Alaska (11.4%) led state growth. Miami (11.4%) and Atlanta (7.5%) topped city growth year over year.

Brinker Hires Mike Wesley to Lead Maggiano’s Marketing

📈 Restaurants saw growth in sales (+8.1%) and foot traffic (+8.7%) year over year, despite a decline in average ticket sizes (-1.3%) compared to 2023. The Fiserv Small Business Index for Food Services and Drinking Places was 131 in November 2024, up 4 points from October, with sales and transactions increasing by +3.1% and +1.9% respectively. Grocery sales outpaced other retail categories with a year-over-year increase of +11.1%. Service-based businesses saw a yearly growth of +5.1%, with Information Services leading at +15.0%. Regionally, Nebraska led U.S. states with a +13.1% increase in small business sales year over year.

Survey reveals gaps in corporate travel policies

📌 A Booking.com for Business survey, dated Dec 2, 2024, involving more than 600 U.S. business travelers and decision-makers, reveals confusion about company travel policies. While 76% claim awareness, only 32% understand the inclusion of medical and travel insurance, against 45% of decision-makers. Discrepancies also exist regarding class of travel, accommodations, and loyalty points usage.

How to drive hotel website conversion

📅 On Dec 2, 2024, Juanjo Rodriguez, founder of The Hotels Network, discussed the importance of personalizing guest experiences and utilizing data-driven strategies for boosting direct bookings and overall hotel performance on Hotel Tech Insider. Read more about enhancing hotel website conversion at The Hotels Network.

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