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WTTC: Consumers shift toward sustainable travel

Hotel Business

A new report by World Travel & Tourism Council (WTTC) and Trip.com Group, together with Deloitte, reveals a heightened appetite for sustainable tourism among consumers, with 69% of travelers actively seeking sustainable travel options. But 2023 is looking even better in terms of travelers’ spend.

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2024 Budget Planning: What Is Top of Mind for Hotel Owners & Operators?

Revenue Hub

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. NB: This is an article from Hotstats What unique challenges are hotels facing in the 2024 budgeting and planning process? percent in 2022 to 6.8 There may be some relief in sight.

Budgeting 101
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The bright future of sustainable tourism

Hotel Owner

Sustainable tourism is a term that means different things to different owners and operators in this fragmented tourism industry and therefore risks becoming meaningless if greenwashing is allowed to continue. In these most urgent of times, we are living in a polarised world with a crisis of trust and human-induced climate emergencies.

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Spring Budget 2024: How it will affect hospitality businesses

Serviced Apartments

UK: In the Spring Budget 2024, Chancellor Jeremy Hunt revealed the government will freeze alcohol duty and cut National Insurance, as well as raise the VAT threshold for small businesses to £90,000. In today’s Spring Budget, Hunt outlined plans to increase the VAT registration threshold from £85,000 to £90,000 for small businesses.

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OYO USA’s 2022 per hotel rev surpasses pre-pandemic levels

Hotel Business

Global travel technology company OYO’s U.S. operations outpaced the budget hotel segment’s growth in RevPAR with an 18% rise in 2022 versus 2019. The budget hotel segment grew by only 6% in the U.S., higher growth than the other budget hotels in the region. according to STR reports. higher than industry RevPAR.

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The enduring explorer

SiteMinder

Big picture Humans are wired to travel. In recent years, time without its magic has only served to make it more valuable, meaning that while external forces may push us to adapt, travel can now never be compromised. Most (57%) intend to travel more. Only 9% intend to travel less.

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Hoteliers must adopt a multi-pronged approach for the return of Chinese tourism

SiteMinder

Many parts of the world are excited about the prospect of travellers from mainland China returning to their shores but, while your hotel can certainly benefit from the opportunity, there are no simple answers when it comes to planning and preparing for this. It also allowed citizens to travel during the Lunar New Year celebrations.