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Hospitality insolvencies have surged by over 40 percent between December 2023 and December 2024, according to a new report from Equifax. The Equifax Quarterly Commercial Insights – December 2024 report found that the sector has also seen a spike in auto loan arrears rates, up 43 per cent since December 2023.
Here’s a look at some of the key findings so you can reflect on 2024 and prepare for maximum growth in 2025. percent in 2024 and added 210,300 jobs, a standout category led the pack. Despite ongoing challenges in 2024, 67 percent of restaurant managers are optimistic about what 2025 holds for the industry.
On October 1st in Chicago, Meta’s Restaurant Summit brought together more than 100 marketers from some of the most recognizable franchises in the industry for a buffet of diverse programming, discussion, and exploration into the world of restaurants. Meta Study, June 2024. Meta Q2’24 Earnings, July 2024.
The 2024-25 ski season is approaching, and with a weaker La Niña pattern expected, ski resorts and hotels near the slopes are in for an unpredictable winter. But don’t worry, whether it’s powder or sunny days, we’ve got ski hotel digital marketing strategies to keep your property top of mind.
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. Market Research and Analysis 🌐 Focus on thorough product and customer segmentation to tailor pricing strategies that meet the specific needs of each segment. Don't miss this brand new webinar! Save your seat today!
In 2024, as a globally leading cloud-based hospitality technology solutions provider, we have solidified our position as a forerunner in the domain. In 2024, we made remarkable progress in empowering hotels to excel in a fiercely competitive environment, revolutionizing how they operate efficiently to drive overall growth.
South Australian wine producers are experiencing a boom with exports to China surpassing previous records in the year to November 2024, according to the latest Australian Bureau of Statistics (ABS) figures. million litres of wine, valued at over $93 million, to China in November 2024 alone. South Australian winemakers sold 11.8
In 2025, hotel marketing isnt just about booking a few extra nights here and there. According to a 2024 study by Statista , over 70% of travelers in the USA rely on social media to make booking decisions, and 60% of them expect personalized travel experiences based on their preferences. Enter content marketing. And guess what?
Our data highlights the willingness of hoteliers to adopt both new and established methods to attract modern guests, as they pursue a more holistic hotel commerce strategy to sell, market, manage and grow their business, says Tarun Joukani , Director, STAAH.
Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global
What You Will Learn: Cutting-Edge Revenue Optimization Techniques 🚀 Discover innovative methods to maximize your company's revenue streams and stay competitive in a dynamic market. 📆 August 20th, 2024 at 9:30 AM PDT, 12:30 PM EDT, 5:30 PM BST Register now to secure your spot!
Rising costs, changing booking trends, good leaders, and even the weather…are just some of the things that have influenced the performance of hotels so far this year. So what are hoteliers doing to remain competitive in this climate, and what opportunities and challenges are they facing in the road ahead?
A multi billion industry dominated by just a few giants The travel and hospitality sector, a $5 trillion industry , allocates a significant portion of its revenue about 7%- to digital marketing. In contrast, suppliers, such as hotels, invest a modest 2% to 5% in marketing efforts.
Hotel marketers, take a deep breath 2024 was a whirlwind, wasnt it? Your marketing strategy needs to simplify this experience, capture attention across touchpoints, and drive value to remain competitive. With consumers spending more than five hours over 45 days researching trips, the booking process has become a marathon.
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SiteMinder, the world’s leading hotel distribution and revenue platform, unveiled the winners of the 2024 SiteMinder Partner Awards during a ceremony at WTM London, recognising businesses across five continents that have successfully simplified an increasingly-complex landscape for hoteliers.
STAAH SwiftBook , the booking engine connected to hotel websites has made the highest climb in the top channels list for 2024, up two spots to number four. While OTAs will remain a significant channel at least in the near term, lower cost direct bookings via the hotel website are gradually increasing in share.
The following series is filled with valuable insights from the country’s leading operators on everything from milestone moments to the impact of the cost-of-living crisis, what they’re tipping will be big in 2024, and the current staffing landscape. Even if the market shrinks, you need to ensure you are at the forefront of people’s minds.
percent for the full year 2024, and over 577,000 rooms in the companys development pipeline at year-end. Marriott International, Inc. announced a year of global growth, with a record 123,000 gross rooms openings, net rooms growth of 6.8 Marriott continued to expand its product offerings across travel purposes and segments.
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Investment TrendsItalian hotel transactions exceeded 800 million in H1 2024, involving over 30 properties and nearly 4,500 rooms. This marks a 90% increase compared to H1 2023, positioning Italy as the fourth largest European market by transaction volume for the first half of 2024, behind the United Kingdom, Spain, and France.
Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. An issue that may arise from this in 2024 is data privacy. – Corin Camenisch, Product Marketing Lead at SumUp 1 + 0 = 3: The New Math of Marketing!
hotel forecast revision of 2024. For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 Hotel Forecast in Final Revision of 2024 appeared first on LODGING Magazine. NASHVILLE—STR and Tourism Economics downgraded the growth rate in the final U.S. ppts to +1.4
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Jobs and Skills Australia (JSA) has released Better Together – The Jobs and Skills Report 2024. The report aims to reveal labour market insights, and improve workforce participation, productivity, wages and equity. The next Jobs and Skill Australia road show will be in Sydney on Thursday, 21 November 2024.
According to the latest World Tourism Barometer by UN Tourism, international tourist arrivals were at 96% of pre-C19 levels in the first seven months of 2024, with strongest growth in MEA (both ahead of 2019 results). All markets reviewed in this Monitor witnessed ADR growth and only two dropped in occupancy (Maldives, -5.3%
Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. Just as the transition to renewables and electric vehicles has thrived on collaborative efforts, we foresee more collaboration for the cultivated meat industry in 2024.
International tourism bounced back to 96% of pre-pandemic levels in the seven months through July 2024, driven by strong demand in Europe and the re-opening of markets in Asia and the Pacific.
The luxury hotel market has continued to strengthen as guests have upgraded their choice of hotel, with occupancy of UK luxury hotels rising from 68.2% in 2024 as cost-of-living pressures have started to ease, according to RSM The RSM Hotels Tracker: Focus on Asset Classes found that occupancy for mid market hotels rose from 75.8%
Here is a comprehensive guide to navigating the complexities of modern digital advertising to achieve measurable results and a competitive edge in the bustling hotel market.
Opening a restaurant in competitive markets like South Florida is no easy task. Strategies for Restaurant Success Here are key strategies to help restaurants succeed: Know Your Market : Understand your audience and tailor offerings to their tastes. Bureau of Labor Statistics.
In 2024, restaurant traffic slowed while price sensitivity grew. As seen during the 2024 summer of value, customers quickly move on to other restaurant brands in search of the next deal. Sustained loyalty is the goal in this highly competitive, price-driven market. Continued trepidation.
AUSTIN, Texas—Cendyn’s Sales Intelligence platform, previously known as Knowland, announced that Phoenix, Arizona, ranked first in the top 25 markets with year-over-year (YOY) growth at 19.7 percent, placing it in the top five markets for the tenth consecutive month. Las Vegas, Nevada, followed closely with growth at 17.7
Labour vacancies are falling across the country according to the Australian Governments quarterly Labour Market Update and Occupation Shortage Report. per cent over 2024, with just under one per cent of that growth happening in the final quarter. per cent in 2024 although it remains low when compared to the last decade.
markets reporting occupancy growth, the most of the past 91 weeks. Occupancy reached 69%, up 3 percentage points (ppts), and ADR increased 4.6%. The occupancy gain was the largest since earlier this year with 82% of the 171 STR-defined U.S. It was a clean week with no calendar/holiday shifts to distort the data.
STAAH GDS retained the number 9 spot on the top 10 list, reaffirming its consistent and dependable performance Top 10 Online Channels 2024 – Malaysia Agoda, Booking.com and Trip.com are Vietnams most preferred distribution channels for 2024. Vietnam is among the newest markets STAAH entered.
An event venue connected to a hotel in New York City struggled to capture market share. Campaign Research and Strategy Launched in March 2024, the campaign was designed to align with their limited marketing budget of $9,000 per year ($750 monthly).
Pizza Ordering Predictions HungerRush released the results of a national dining survey on 2024 pizza ordering predictions for The Big Game (February 11) and National Pizza Day (February 9). Restaurateurs are not only investing in AI to address labor challenges – more established automation tools are also on the agenda in 2024.
This guide dives deep into actionable strategies and emerging trends that will help you thrive in the competitive market. The Power of Personalisation In today’s saturated hospitality market, personalisation is no longer a nice-to-have. In 2025, 65% of hotel bookings are projected to be made via mobile devices (Statista, 2024).
Our data highlights the willingness of hoteliers to adopt both new and established methods to attract these customers, as they pursue a more holistic hotel commerce strategy to sell, market, manage and grow their business.
reported RevPAR growth of 5% worldwide in the fourth-quarter of 2024, with 4.1% growth in international markets. The company also added more than 123,000 rooms in 2024, a company record, for net rooms growth of 6.8% More than half (55% of rooms in the year-end pipeline are in international markets. growth in the U.S. &
Scotlands capital has continued to dominate the UK hotel market, securing the first position in the 2025 Colliers UK Hotel Market Index. The citys hospitality sector has benefited from a combination of solid occupancy rates and increasing ADR, with RevPAR increasing almost 9% in 2024.
hotel industry reported mixed performance results from the previous month, according to December 2024 data from CoStar. Hotel Performance December 2024 Percentage change from December 2023 Occupancy: 53.2 percent) Among the Top 25 Markets, New York City experienced the highest occupancy level (up 1.4 WASHINGTONThe U.S.
Let’s explore 26 proven online marketing strategies to help your restaurant thrive. Build a mobile-friendly restaurant website In 2024, roughly around 63% of all web traffic came from mobile devices. To do so, you must have an optimized website and engaging social media profiles.
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