Hospitality Industry Global Trends and Developments
Number of international travellers continues to grow and the global industry is changing faster than ever before. According to UNWTO's long-term forecast report “Tourism Towards 2030”, the tourist international arrivals will reach 1,8bln by 2030. The 10 global trends and developments in the hospitality industry which every industry player should be aware of, are outlined below:
• Airbnb: With listings in over 190 countries and 65,000 cities, Airbnb forms a growing market share with high price competition that hotels need to face. Why travellers choose Airbnb over a hotel? Beside lower cost, Airbnb establishments also offer experiences as most of the properties are immersed in neighborhood and townhomes. Staying in an Airbnb makes you feel like you’re living as a local.
• Activities and guest experiences: Activities and experiences are growing in importance for travellers and affect their decision making. Hotels are increasingly making necessary arrangements to accommodate such needs. The 2017 fastest growing experience category per Trip Advisor relates to Historical and Heritage tours followed by Sunset cruises.