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.”