We arent just living in a mobile age – we are living in an on-demand economy, and it is revolutionizing business models and the corresponding consumer experience across every industry. With digital platforms and apps empowering instant gratification, paired with efficient and intuitive technological properties to cater to a personalized and data-driven experience, the supply which meets the demand of customers is readily available, 24/7.
Analysts at Lodging Econometrics (LE) report that in the third quarter of 2018 the total U.S. construction pipeline stands at 5,376 projects/650,576 rooms, up 7% from 2017s 5,011 projects/608,837 rooms.
The U.S. hotel industry reported occupancy declined 0.7% to 62.9% during the week of 28 October through 3 November. ADR rose 0.7% to $124.81 but RevPAR was mostly flat (-0.1% to $78.54).
During the week of 28 October through 3 November, Canadian hotel occupancy dipped 0.3% to 59.5%, while a 0.8% ADR increase to 145.94 Canadian dollars ($111.37) grew RevPAR 0.4% to CA$86.85 ($66.28).
The benefits of hyper-personalization are well known to the travel industry. Making your customer feel loved, launching unbeatable granular marketing and ensuring relevancy will undoubtedly deliver huge gains for your organization.
After a steep drop in October, the index is down 10.5% through the first 10 months of 2018.
Travel to and within the U.S. grew 1.6 percent year-over-year in September, according to the U.S. Travel Associations latest Travel Trends Index (TTI) – marking the industrys 105th straight month of overall expansion.
The new research reveals how the travel industry is developing within the fast-changing global economic and social environment.
European destinations reported healthy growth this summer despite rising political risks and less relaxed financial conditions posing a threat to the global economic outlook. Growth momentum was boosted by robust intra-European demand and improved air connectivity, notably from China.
Wellness tourism grew from a $563 billion market in 2015 to $639 billion in 2017, or 6.5% annually, more than twice as fast as tourism overall (3.2%). And its forecast to grow even faster through 2022 (7.5% yearly) to reach $919 billion.