Good news for future of unique style venues?

Deloitte’s US report could mean greater options for meetings and event bookers.

2019 US Travel and Hospitality Industry Outlook talks of key trends powering growth in a technology-driven industry. A strong economy, rising global consumer purchasing power, and digital innovation have all fuelled record growth in the travel and hospitality industry. But there are still several challenges that could throw the industry off course in 2019.

So Deloitte’s report looks at the biggest trends likely to shape hospitality, airlines, cruises, and ground transportation in the year ahead. And in a section titled ‘Hospitality: Sustaining momentum’, it’s made clear that hoteliers need to plan for the longer term and be prepared for any potential downturns, even if they’re short-lived.

The report claims that those [hoteliers] able to weather any potential storm without drastic reductions in service quality and rates will be better positioned for profitability when the bull market returns. How hoteliers and venue operators achieve the balance will be for their strategists to decide!

And while competition is always good news on rates for meetings and event bookers, it could be positive for unusual venue and accommodation choices too…

“Hotels will likely continue to introduce innovative concepts, products, and loyalty strategies to cut through the noise of the more than 270 trademarked brands (and virtually innumerable independents) that currently exist worldwide. The rollout of new lifestyle, boutique, and contemporary brands in recent years demonstrates the sector’s unrelenting willingness to adapt to an evolving traveler. However, given that traveler preferences are ever-changing, opportunities will always remain.”