Market Trends

🛰️ Global luxury tourism and hospitality demand is set to outpace other sectors, with spending expected to hit $391 billion by 2028. Vik Krishnan, a Senior Partner at McKinsey & Company, shared insights from The Economist and McKinsey, noting the trend towards prioritizing experiences. This surge in luxury leisure aligns with consumer preferences and industry forecasts. Read more from The Economist and explore McKinsey's insights through the provided links.

🏢 Corporate demand is predicted to double the global serviced apartment sector size by 2033. The 2025 GSAIR forecasts the sector's worth at £183.6 billion globally by 2030. The UK market is projected to hit £6.52 billion by 2033, with a corporate growth rate of 8.8%. Investor interest rose to 27% in 2025 from 24% in 2024. Gen Z's maturation boosts digital-first serviced apartment demand, while AI and sustainability gain focus. Key discussions occurred at Citadines, London.

🎨 Studio Paolo Ferrari has been named the 2025 Designer of the Year by *Boutique Design*, recognized alongside the 45th annual Gold Key Awards for Excellence in Hospitality Design. Founded in 2016 by principal designer Paolo Ferrari, the studio is a Gold Key finalist for its work on Saudi Arabia's Shebara Resort and Desert Rock. The awards ceremony will be held on November 10th at Cipriani 42nd Street in New York.

📈 In December 2024, WorldHotels added properties to its Crafted collection. By March 2025, WorldHotels expanded in China with Wenlan Hotel Northern Hangzhou. Ron Pohl, president of WorldHotels, highlighted its growth potential in the U.S., currently housing 31 hotels, and emphasized the appeal of local uniqueness. The Crafted brand, with boutique 80-100 room properties, is the fastest-growing segment, thriving in secondary markets like Western Canada, where the Prestige Group operates 10 lakeside WorldHotels.

🏨 On The Lodging Conference's third day, hospitality leaders like Rosanna Maietta discussed industry trends. Leeny Oberg highlighted strong leisure and luxury demand, with 40% of US transient bookings under four days. Ayesha Molino noted macroeconomic impacts stabilizing wage inflation. Beth McMahon reported over 80% occupancy in Canada in August. Greg Juceam emphasized extended-stay demand. John G. Murray announced Sonesta’s brand extension, Americas Best Value Studios, amid competitive franchising markets. Upcoming events include the 2028 Olympics and 2026 FIFA World Cup.

📅 In 2026, Skyscanner’s report highlights key travel trends shaped by personal interests and economic factors. 27% of UK travelers focus on local beauty culture, influenced by social media. 43% explore local supermarkets abroad for authentic experiences. 71% plan mountain escapes for tranquility, with a 103% YoY increase in mountain view hotel bookings. Literature-inspired trips attract nearly half of travelers, with a 70% increase in library filter use. Solo travel is popular, with a 39% interest rate, and family trips grow as 16% engage in multi-generational travel. 27% choose hotels as destinations themselves.

📆 MCLEAN, Virginia—Hilton’s 2026 Trends Report reveals that 74% of 14,000 travelers across 14 countries value brand trust. Solo travel is rising, with 48% seeking solo time. A shift to meaningful travel sees 78% of parents influenced by kids, while 53% travel with adult children. Familiar comforts are key, with 80% favoring familiar foods. U.S. road trips surge, 90% value a comfortable bed, and 63% demand pool access.