Articles tagged “skift research”

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.

The Delta variant didn’t do too much damage to the U.S. travel industry. In September, 47% of Americans traveled, only 1.7 percentage points lower than the record-setting July. And luckily, the virus is in retreat and the upcoming winter holiday season looks very promising for travel companies.

Most hoteliers would rather not think about their payment tech, as long as it works. But payment habits are changing, and so is payment tech. Hoteliers - and hotel tech vendors and investors - will want to be on top of these changes, especially now that revenues are suppressed.

July did turn out to be a record-breaking month for U.S. travel. However, the Delta Variant has already made some consumers halt their travel plan for the remainder of 2021. How the new surge evolves will deeply impact the fragile recovery path in the next few months.