Group travel is set for continued growth, with Amadeus Demand360+ ™ data already showing worldwide group bookings in September 2024 are up 6% compared with the same time last year, and up 33% compared to August 2024.
It’s now more important than ever for hoteliers to provide value and personalization in today’s market, driven by the increasing demand for unique experiences and a stronger focus on sustainability.
In a new report, Amadeus and Meeting Professionals International (MPI) present an insightful look into the future of hospitality.
The report, titled "Hotel Sales Stars: The Ultimate Strategy Playbook," integrates global market data with expert insights to outline six crucial trends shaping the industry over the coming year. This comprehensive guide is aimed at assisting hoteliers in navigating the sales journey and seizing new opportunities, from prospecting to relationship building.
Hotels are responding to the growing demand for group accommodations in 2024 by focusing on several key areas: strengthening customer relationships, improving prospecting for new and repeat business, and enhancing the planning and execution of group events.
According to data from Amadeus’ Demand360(R) platform, group travel is likely to continue growing, with group occupancy in August 2024, as of 9th August 2024, pacing ahead of same time last year.
This positive industry momentum, combined with evolving customer preferences, presents hospitality professionals with opportunities to adapt their strategies to align with these six defining trends:
Business Travel Resurgence
Business travel is rebounding, with increased bookings and spending indicating ongoing growth. Organizations must remain vigilant in managing rising travel costs, economic uncertainties, budget constraints, and travel disruptions to ensure the success of their travel programs.
Growing Popularity of Smaller Meetings
With smaller meetings growing more popular, there is a need for expertise in the small to mid-size market and the ability to make quick decisions. Meeting planners face unique challenges, as the effort required for small events can be as intensive as they are for larger ones.
Expectations for Elevated Attendee Experiences
There is an increasing desire for more thoughtfully curated events, including boutique experiences, unique venues, and exclusive spaces within hotels and resorts. Smaller cities offering fresh, unique experiences are becoming popular choices for event locations.
Increased Focus on Sustainability
Hotels are adopting tools and rewards to showcase their commitment to sustainability. Many hotels are also developing methods to provide concrete data on an event’s carbon footprint, concentrating on areas such as local sourcing, carbon and resource usage, renewable materials, and community engagement.
Emphasis on Value
With organizations aiming to reduce costs on business travel and meetings, there are cutbacks in off-site activities, food and beverage options, and the number of nights for external events. Venues that offer customized services and demonstrate flexibility are likely to stand out.
Ongoing Staffing Challenges
Staffing remains a challenge, as teams juggle multiple tasks and responsibilities while striving to meet sales targets amidst high turnover rates and the loss of institutional knowledge as staff members depart. Innovative approaches are being explored to develop the next generation of travel professionals to address these staffing issues.
Experts emphasize the importance of hoteliers staying ahead of industry changes and responding promptly. Focusing on creating value is especially crucial for winning and keeping business in a competitive landscape.
Iain Saxton, Senior Vice President, On-Property Solutions, Hospitality, Amadeus says, “In an industry as dynamic as hospitality, staying ahead requires strategic foresight and insights from those who lead the way. That is why we are excited to introduce this new report by Amadeus and Meeting Professionals International highlighting these six key trends for 2024. These trends, paired with key strategies and expert insights, offer hospitality professionals an opportunity to adapt their sales and event strategies effectively.”
To read more from our industry experts, download the report, Hotel Sales Stars: The Ultimate Strategy Playbook.
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