The right combination of technology investments can improve guest experience, boost profitability and equip the industry for growth
Only 17% of executives strongly agree that there will be a recession in the next six months - As executives see external risks ease, they are channeling their investments into transformation, technology and talent
The rate of growth in occupancy, average daily rate and revenue per available room decelerated considerably in Q2, with room rate fatigue effecting growth in the higher-priced hotel categories.
The highest consumer sentiment we’ve seen in 18 months strongly suggests we’re nearly back to normal. There’s improvement across all demographics, with the variance between age groups closing and less affluent socioeconomic groups catching up. Finances have stabilised, and some groups even have disposable income to spend. While inflation remains the biggest factor affecting finances, fewer people are cutting back and spending intentions have consistently improved since June 2022. We explore what these findings look like for consumer businesses.
After a stronger-than-forecast performance for 2022, continued inflationary headwinds across energy, food and beverages (F&B) and payroll remain critical factors impairing the UK hotel industry’s recovery.
US Hospitality Directions May 2023
Sentiment climbs for the second survey in a row, but consumers remain cautious
I recently spoke with a CEO who wears a special lapel pin close to her heart every day as a reminder of why it’s so important to keep her customers safe and earn their trust. She describes it as '...a physical act, something that I can do so I never forget what we're up to, so I never forget why we're doing it.'
Increases in occupancy, ADR and revenue per available room (RevPAR) continued to accelerate across Manhattan during the second half of 2022. Q4 RevPAR experienced a year-over-year increase of 54.2 percent, with the strongest gains in October - up 85.8 percent. Q3 RevPAR increased 75.1 percent from the same period in 2021.
PwC’s 26th Annual CEO Survey shows UK CEOs are under no illusions that after a tough few years things are about to get tougher still.