David Sangree and Eric Hansen attended the International Society of Hospitality Consultants annual conference in Seattle, Washington in September 2016. Here are their takeaways from the conference:
- The global airline industry is projected to grow at a 4% growth rate over the next 20 years with a 2.6% growth rate for North America. This will increase demand for hotels on the global basis.
- Virtual-reality entertainment is growing exponentially and will be used increasingly in hotels, resorts, amusement parks, and at home
- Volunteer tourism is increasing on a global basis with more travelers looking for authentic experiences where they can help others
- Hotel loyalty programs continue to be important but many travelers are looking for more immediate rewards. Hotel companies continue to try to deal with OTAs with companies such as Red Lion embracing them while Marriott with their recent consolidation trying to get lower fees.
- RevPAR growth will continue in 2016 and 2017, but at lower levels than what has occurred in the past few years. Occupancy and ADR growth are slowing down, but not declining yet.