Answering the three most popular questions is our answer engine Ask Skift 2.0 Recent questions that the organization has answered.
What Are the Hospitality Industry’s Challenges?
High Construction and operating costs You can find out more about this by clicking here. slowing the development of new hotelsIt is particularly important for independent brands who do not have capital. This has contributed to a limited supply, which keeps room rates high while limiting growth potential for brands.
Hoteliers around the world continue to struggle with labor shortages, which is a major concern for the industry. JLL’s operator surveyBased on more than 1,000 hotel across 20 Asia Pacific countries found front office and food and beverage positions to be the most difficult to fill.
The sustainability of hotels is also an important concern to hotel executives. there’s a notable gap between ambitious corporate commitments and on-the-ground action. . a joint report from the World Travel and Tourism Council and Greenview Only 6.1% of the 20,000 hotels worldwide surveyed have plans to reduce greenhouse gas emissions.
The global economic turmoil, which includes concerns over a possible recession has also heightened. created uncertainty For hotel operators and investor. The rise in interest rates since their historic lows has made it more difficult to access capital, especially for hotel developments that require lending from local or regional banks and investors.
What is the future of luxury travel, especially for younger and more affluent travelers?
The focus of wealthy travelers is increasingly on the experience, rather than lavish accommodations or shopping. About 63% of luxury travelers are likely to seek out adventurous activitiesAccording to Skift Research, and surveys of the industry.
Saniya Zanpure of the Research Analyst Saniya Zanpure stated that this trend was more prevalent among younger generations. Those aged 18-44 account for 67% Bookings are available at a variety of rates. 70% The average spending of wealthy travelers.
Research Analyst Robin Gilbert Jones explains that the definition of luxury has expanded to include sustainability, wellness and substance over spectacle. noted a trend toward “quiet luxury.” Gilbert-Jones writes that younger and more wealthy travelers seek cultural connections, authenticity, and environmental awareness.
What are Travel Brands doing on TikTok, Instagram and other platforms to attract younger audiences?
Some content creators are also travel agents and bookers. brands are increasingly partnering with creators who can offer niche expertise — in fields such as food or adventure travel — and equipping them with tools to enable direct bookings.
Expedia Group is introducing booking capabilities on social media platforms. announced this month it’s launching Trip Matching, a feature on Instagram that would allow users to book travel based on videos from the social media app. Travelers could share a video of a travel-related Reel on Instagram with Expedia’s account, and AI would then generate travel tips and itineraries based on that video.
Brands are also included shifting more of their marketing budgets Social media is replacing traditional channels. The trend is expected grow as Gen Z, millennials and more people from Gen Z represent a higher share of the travel market.
