Top five trends impacting the hospitality industry
If you've been watching this space, or even just stumbled on our blog for a quick look, you will have noticed that we're intrigued and invested in hospitality industry. As news of today's hard-hitting times continues to drape the pages of just about every publication available, we've taken note of some trends; and highlighted five that seem to be at the forefront of the airwaves and editors' minds in the wake of the current downturn:
1. Travel industry's gloomy outlook – The airline industry has reported some of the largest passenger declines since the early 1980s.
2. Hospitality cutting back – Amenities and luxuries in hotels being reevaluated by some of the industry's largest luxury hotels.
3. Hotels working to get the world traveling again – Hotels have begun offering low rate travel packages as a means to put bodies back in rooms that have been showing vacancies more often than not.
4. Government involvement – The stimulus bill looks to create jobs across all industries, and is estimated to create or maintain 346,000 jobs for the hospitality industry.
5. Hotels turn to asset management – Hoteliers have begun turning to asset management as a means to save on bottom lines while maintaining the quality of stay on their properties for travelers.
But it's not all doom and gloom: In the next week we're going to look and question some possible benefits that have come from each of these.