When selecting a hotel, almost all members want reassurance that their hotel is of good quality (97% say that’s most important) and in a convenient location (92%). Loyalty program benefits (90%) are nearly as essential, followed by customer service (88%).
In 2023, the travel market in the United Kingdom experienced significant growth, with gross bookings increasing 19%, driven by robust expansion in online bookings, mobile transactions and key sectors like airlines and car rentals.
Slightly more conservative across the board, yet positive in outlook, European meeting professionals expect a moderate increase in activity level compared to North and Latin American regions. However, high levels of optimism regarding the overall health of the industry are firmly in place. 79% said they would rank their confidence level as 8 or higher on a scale of 1 to 10.
UN Tourism has partnered with the European Committee of the Regions for a comprehensive study of the significant impact and potential of tourism in fostering socio-economic development in rural areas.
The market's highest daily occupancy level was seen on Saturday, 16 March (98.6%) - the night of the final round of the Six Nations championship between Scotland and Ireland at Aviva Stadium. The market's daily occupancy levels were above the 70% mark throughout the month apart from two days.
High inflation and interest rate rises had a major impact on the European hotel investment market last year, slowing transaction activity and taking volumes 19% lower than in 2022, the second lowest level of investment in the past decade, according to our HVS European Hotel Transaction Report, published this week in partnership with our European hotel brokerage arm HVS Hodges Ward Elliott.
The impact of the increase in the National Living Wage (NLW) on labour costs in 2024 is forecast to hit UK hotels, particularly in the regions. This will put the spotlight once again on the need for top line growth and smarter cost control to maintain or improve profitability.
Globalization, increasing freedom of movement between countries, and the growing interdependence of national economies have boosted cultural diversity in many industries. Nowhere is this paradigm shift more evident than in hospitality. How to manage cultural diversity effectively in hospitality is crucial in light of these changes.
Hospitality businesses rely on their employees to provide excellent service and maintain the brand image. This front-line reality makes talent management a crucial activity for any hospitality organization. As the saying goes: 'The people make the place.'
Improved air connectivity and seat capacity are helping to make travel easier, both regionally and internationally, as airlines respond to traveller demand. Plus, interest in Asia-Pacific destinations is continuing to accelerate from its popularity surge last year.