TOP NEWS - 10 Minutes News for Hoteliers - Page 62

Spain’s tourism surge faces growing challenges

🏖️ In 2024, Spain's tourism industry achieved a 10.1% increase in international visitors, totaling 93.8 million, and a 16% jump in traveler spending to €126 billion, making up 13% of its GDP. Tour operators saw a 16% growth, while high-speed rail bookings rose by 20%. Madrid became Europe's second-highest city for hotel investment. However, overtourism led to protests and legislative measures in cities like Barcelona. Phocuswright projects a growth rate stabilization, citing inflation and external economic factors.

Hospitality-ON Le Mag – The new challenges of hotel distribution

📦 Hospitality-ON's latest report reviews the state of hotel distribution, highlighting the challenge of balancing direct sales against OTA control and leveraging AI. While integrated platforms offer seamless journeys, best-of-breed models focus on specialized interoperability. With OTAs like Booking.com and Expedia dominating, hotels strive to increase direct bookings through digital marketing and personalization, navigating data privacy concerns. AI emerges as a crucial tool for personalization, challenging OTA pricing algorithms and offering new opportunities for direct visibility. The report emphasizes the importance of intelligent data use and technological flexibility for hotels to reduce third-party reliance and gain competitive advantages. Full insights are exclusive to H-ON subscribers.

4 min

5 Trends Impacting the Future of Corporate Business

📈 Ryan Mann, McKinsey & Company's North America Hospitality and Lodging leader, presented research at HSMAI’s Commercial Futures Forum in October 2024, later published in December 2024. U.S. business travel in 2024 valued at $472 billion, surpassing 2019 by 13.4%. Meeting planners (66%) expect meeting spend to increase, with 81% of 1,200 surveyed business leaders endorsing more meetings. Business travelers extend stays for leisure, prompting hotels to offer extended-stay rates and packages. Direct folio billing faces technical issues due to legacy PMS limitations and PCI compliance. Continuous rate monitoring tools ensure companies receive negotiated rates, affecting hotel-client relations. Small meetings for 9-20 people rise with remote work, challenging hotel revenue and sales structures.

6 min

“Transformative luxury” and the rise of the wellness hotel

🏠 The "experience economy," introduced by B. Joseph Pine II and James H. Gilmore in a 1998 Harvard Business Review article, has evolved into the "transformation economy," with luxury experiences aiming to fulfill personal aspirations. Aleks Cvetkovic, Strategy Director at BIRCH, sees opportunities for luxury hospitality in wellness, valued at £5.1 trillion globally and growing by 7.3% annually to 2028. Consumer shifts towards wellness, customization, membership models, and longer stays with branded residences guide the industry. SIRO Hotels by Kerzner International exemplifies this with their first property in Dubai featuring a 1,000 sq m gym and comprehensive wellness facilities, and upcoming residences in Porto Montenegro for summer.

6 min

The PMS Training Problem (and How Good UX Can Help)

🏨 Cloudbeds and NYU's Tisch Center of Hospitality conducted the PMS User Experience Report, surveying 500 hotel employees across five countries. The report highlights that 73% of hotel employees are trained on PMS systems in person, 26% find PMS does not integrate well with other systems, and over 20% of staff with less than one year on the job are likely to leave. Intuitive PMS UX can reduce onboarding time, improve efficiency, and lower turnover rates. A good PMS UX features intuitive navigation, customizable dashboards, contextual training tools, smart features, and intelligence tools for better operational decisions.

4 min

How Guest Experience Drives Hotel Revenue (and How to Maximize It)

🏨 A Cornell study reveals a 1.42% increase in RevPAR for each one-point rise in online review scores. Hotels can raise prices by 2% without losing market share given a positive guest experience. Happy guests often become repeat customers, spending 13% to 29% more than new ones. Key performance indicators such as Guest Satisfaction Score (GSS), Net Promoter Score (NPS), and Revenue per Guest (RevPAG) are essential to track the impact of guest satisfaction on revenue. Personalization, anticipatory service, and empowering staff, like Ritz-Carlton's $2,000 guest satisfaction fund, can significantly enhance guest experience and financial performance.

3 min

Why Centralized Training and Onboarding are Essential for Maximizing PMS Technology

🏨 A 2024 report found nearly 3 million hospitality workers left their jobs between January and April, 204% higher than the national turnover average. Hotels capitalize on all-in-one PMS for centralized operations, easing workflows and onboarding. Training addresses skill gaps, with a focus on service mindset and adaptability. A mix of e-learning, live coaching, and peer support is recommended. Effective PMS training is crucial for hotel profitability and adapting to technology changes in 2025.

1 min

Hotel Bidding in 2025: The New Way to Get the Best Deal

🏨 Hotel bidding platforms in 2025 allow guests to propose their prices, aiming to provide the best hotel deals without compromising brand reputation.

1 min

Expedia for Hotels: Reach Global Travelers in 2025

📆 Expedia aims to assist hotels in 2025 to maximize exposure and bookings by reaching global travelers. The article suggests how listing properties on Expedia can be beneficial for hotels looking for increased visibility among international customers. No specific statistics or numbers were provided in the excerpt. The content is intended to advise on effective use of Expedia for hotel bookings in the future.

3 min

Connecting Travel launches 2025 Insight…

📈 The 2025 CT Insight Report, launched at the Arabian Travel Market in Dubai, provides analysis of GCC travel, supported by data from Mabrian. Clive Jacobs, Chairman of Jacobs Media, hosted the 76-page report's release to 100 VIPs at the Fairmont Dubai. Keynote speaker John Bevan, CEO of dnata Travel Group, and partners Mabrian, BCG, and TransPerfect contributed to the travel analysis. The report highlights new hotels, attractions, infrastructure, and policy changes, emphasizing innovation, technology, and cross-industry collaboration as drivers for the travel sector's progress. It also discusses challenges like matching customer expectations and the need for more mid-scale accommodations in the GCC.

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