Articles tagged “skift research”

While the travel industry was on its knees, travel loyalty programs continued to grow. But the pandemic has changed the travel industry, and loyalty programs need to follow suit.

Despite the spring break, 41% of Americans traveled in March 2022, little changed from January. However, it’s 5 percentage points higher than March last year, signaling a somewhat healthier start as we inch towards summer season.

Except for the down year of Covid, the U.S. accommodation sector has been performing robustly with the short-term rental segment gaining market share. However, it is yet to be seen how the composition of the industry evolves.

The STR industry in APAC is at a nascent stage with promising growth prospects. It is to be seen how the STR market matures to find its demand-supply equilibrium and market leaders.

In January, 40% of Americans traveled, only 5 percentage points lower than January 2020, before the pandemic hit. While we expect to see even more normalcy in travel as we move closer to another travel season, where the economy is heading could have an impact, as more than half of Americans now believe the U.S. economy will get worse in the next 12 months.

A resurgence of early-stage startups launched in 2021 points to a new wave of innovation and energy coming into the travel sector.

Sustainability and remote work will shape how we live and how we travel profoundly on the other side of the pandemic. Understanding what travelers think of these two topics and how these two areas will impact their future travel decisions is crucial for the industry rebuild.

The pandemic has greatly disrupted travel, both in volumes, and for those who did manage to travel, how they traveled. We conducted a survey of travelers in five major tourism markets to understand what has changed and what new habits will last post-pandemic.

The U.S travel sector took a blow from Omicron during the holiday season, but the effect was mild. In December, 45% of Americans traveled, only 2 percentage points lower than September, when Delta was in retreat. In particular, nearly 6% of all December trips were to another country, marking the highest rate since the pandemic started. And looking ahead to 2022, Americans are optimistic about traveling more.

Destination marketers have put up a positive outlook for 2022 aiming for diversified funding and revenue sources along with some crucial internal changes focusing on stakeholder engagement, targeted marketing and sustainability initiatives. It is to be seen if the changes contribute to continual recovery and growth.

Sophisticated revenue management systems will undoubtedly become more commonplace in the hotel industry, but today still only a small minority of hotels use them. There is a lot of room left for growth, innovation, and disruption.

This is the most complete vendor landscape and market sizing for the hotel property management system sector. With annual revenues of $4.5 billion, this is the largest hotel tech category, but it is also extremely fragmented. There is a lot to fight for.