Experts highlighted some key transformations during the World Economic Forum (WEF)
As the world recovers from the impacts of the COVID-19 pandemic, travel and tourism can bounce back as an inclusive, sustainable, and resilient sector.
Full-blown recession unlikely, and if there is one, it will be mild and short
Tourism Economics' modeling still indicates that the American economy will manage to avoid a recession in the near term, putting the odds of a recession at roughly one-third.
Flexibility has become the holy grail of hospitality design
A hotel room is no longer just a place to sleep, an office is no longer simply a place to work - being able to provide well-designed multi-disciplinary space is now a necessity.
None of this should have been a surprise to airlines. Airline executives should have seen - and thus should have known - that there would be strong demand to travel again.
Almost all US hotels report staffing shortages. Ninety-seven percent of survey respondents indicated they are experiencing a staffing shortage, 49% severely so, according to AHLA.
European hotels the likely winner. Hotels in Europe last week performed 11% better than the same time in 2019, according to the latest STR data.
Corporate demand for serviced apartments on the rise. The main factors for choosing serviced apartments over hotels are traveler preference, total cost of stay and traveler wellbeing.
Reducing business travel. Despite agreement that reducing business travel will harm long-term sales, half of the companies still have policies restricting business travel.
IATA's NDC adoption low with corporates. Ten years after the introduction of its New Distribution Capability, corporate travel bookings using those protocols remain a drop in the bucket.
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