TOP NEWS

🏨 In 2023, travel restrictions lifted, boosting leisure market demand, notably in luxury and budget segments. CBRE predicts 2024 record RevPAR above pre-pandemic levels. The 'bleisure' trend grew, with hotels adapting amenities for work flexibility. Health & wellbeing integration into hotel services increased, alongside investments in spa facilities and bespoke treatments. ESG and sustainability remained key industry focuses into 2024, with a move towards hyper-personalization using big data for tailored guest experiences.

🏡 The luxury hospitality industry has experienced significant changes due to the Covid pandemic, with a shift towards health & wellness, resulting in the growth of spa and wellness facilities and a move towards healthier, locally-sourced cuisine. To advance a career in luxury hospitality, staying ahead of industry trends is crucial, as demonstrated by successful brand collaborations like Louis Vuitton and Supreme, or Omega and Swatch. Building a professional network, particularly during one's degree program at schools like Glion, is advised for gaining advice, friendships, and job opportunities. Passion for one's work is viewed as the key to a long and fulfilling career in this sector.

📖 A Glion Master’s student in Hospitality, Entrepreneurship and Innovation, Chikita Giovany Tanati, visited Marrakech, Morocco for a five-day field trip, staying at a luxury 5-star palace and White Camel, a luxury desert camp. The trip included visits to Royal Mansour, Hotel El Fenn, Farasha Farmhouse, and the Amal Training Center. Tanati's experience was enlightening, linking academic studies to real-world business practices, and she plans to apply these insights to empower women in Papua's tourism industry after graduation.

📊 ARLINGTON, Virginia—The Hospitality Group and Business Performance Index, presented by Knowland and Amadeus for Q2 2024, recorded an overall health of 105.5% YOY, surpassing 100% for the first time. Top U.S. markets like Las Vegas (117.9%), Seattle (117.6%), and Nashville (114.2%) led the performance. Group segment growth continued for seven consecutive quarters, with Las Vegas achieving 125.7%. The Group Index reached 108%, while the GDS Index hit 112%. The Negotiated Index stood at 102%, with an 18/25 market score. Event volume remained steady with an average attendee size of 145 guests, and the average ADR for top 25 markets was $229/night compared to $185/night for others. Overall, business segments are normalizing, as reflected by the index increase from 99.9% in Q1 to 105.5% in Q2 2024.

📊 PMS reports are critical for hotel operations but have limitations for strategic decision-making. They miss broader trends and guest review data, which is vital in the digital landscape. Manual reporting, with its labor hours, error risks, and decision delays, incurs hidden costs. Tech-savvy GMs can access real-time data, use advanced analytics, and automate to enhance revenue and guest satisfaction. Practical steps for GMs include learning the basics, collaborating with experts, piloting new technologies, and seeking continuous improvement for long-term benefits like sustainable revenue growth, enhanced guest experiences, and efficient operations. Embracing technology is not just efficient but also a strategic imperative for success in the digital age.

🏖️ On Aug 15, 2024, AI-powered chatbots are streamlining the booking process in travel, handling flights, accommodations, payments, and baggage tracking. Personalization is key; platforms like Google Travel and TripAdvisor use machine learning to customize itineraries. AI also predicts flight prices with tools like Hopper. Operational efficiency and sustainability are improved, with initiatives like Google's DeepMind optimizing flight paths to reduce aviation-related emissions. Read more at Forbes.

📆 Hoteliers preparing for high season can register for a webinar on August 27 at 10am CDT aimed at maximizing occupancy rates. The webinar by RevOptimum and SiteMinder discusses U.S. high season trends, common challenges like demand fluctuation and guest expectations, and strategies for success. It targets hotel owners, managers, and revenue management professionals. RevOptimum offers personalized revenue management services and strategies to increase hotel RevPAR.