Advanced technologies bring about change for independent hotels
Unplanned over-bookings, front desks staffed 24/7, and marketing or finance degrees to optimize revenue will soon be a thing of the past
Cloudbeds second annual edition of its 2024 State of Independent Lodging Report offers a unique and data-rich perspective on the global independent lodging segment, shedding light on insights and trends from property types and segments often overlooked in industry reporting.
Key takeaways
- Occupancy patterns are projected to remain consistent in 2024. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR;
- With travelers expected to be more price-sensitive this year, hoteliers may struggle to raise their average daily rates (ADR) and should explore new ways to hedge inflation;
- Online travel agencies (OTAs) have returned stronger than ever. In 2023, OTAs generated 60.5% of global bookings, a higher proportion than in any of the previous three years and much higher than the 39.5% of bookings generated on direct channels.
Download the report at Cloudbeds