Hotel experts predict demand shifts
There’s been a disruption in travel patterns, and the post-pandemic world is reconfiguring what normal is like remote work and the ability to extend business trips
The hotel industry is settling into familiar patterns, but several factors continue to keep hoteliers on their toes. During a meeting of the Lodging Industry Investment Council, hotel executives spoke about how they're adapting to conditions that are both familiar and new.
Key takeaways
- Commercial travel will continue to recover, and that might be through business-transient guests or companies that have remote workers setting up monthly or quarterly meetings. This segment, along with international inbound travel, will continue to grow;
- The lack of new supply coming to the market will help the industry maintain rates even if demand doesn’t maintain;
- From a revenue-management standpoint, from a sales and marketing strategy standpoint, we’ve got to find ways to push the commercial segment up in rate and also reduce our customer acquisition costs.
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