Skift Megatrend Predictions 2024
The Skift megatrend predictions 2024 are here! As we step into January 2024, Palm PR are asking and looking at what the big travel trends are ahead for 2024! With the world in a state of flux and standing on a precipice as we enter 2024, from geopoliticial unrest to undeniable climate change. But how will this effect the UK travel market and wider global travel industry. From consumers wanting more food-based tourism experiences to sustainable slow travel with real measurement. In this analysis we focus on how the travel trends will affect hotel brands and how hotels can adapt to guest expectations.
Megatrends predictions 2024 from travel trade forum Skift met at the beginning of January at their NYC conference in NYC with the Ravid Ali – CEO & founder and Skift Editor-in-Chief Sarah Kopit of the 12 years of Megatrends predictions by Skift.
Editor-in-Chief Sarah Kopit discussed the pride and envy of new voices in travel at skift megatrends. The rise of the Indian middle class in 2024 has been recognised by the travel industry as a sector to reach, with tourism boards, airlines and hotel brands scrambling to sign up new ambassadors, they are young, rich and they like to do things. Dubai is the new kid on the block and is making a major play to be the next big travel destination in 2024 coupled with this Saudi Arabia, Oman and UAE also have short term high rental boom predictions and high tourism boom predictions with an influx of luxury hotels in the region, with a lot of luxury and high end hotels being built, there is also a middle budget market required enter the short term rental and this is predicted to be a boom area in these markets.
HOTEL BRANDS:
Hotel brands are looking to loyalty and how to gain repeat customers from money conscious value seeking customers to the middle class. Understanding and leaning into the workforce customer is also a key market of workers on the road for extended periods of time they spend nearly $3 billion a year (in the US).
GUEST EXPERIENCE:
Guest experience is key an all-inclusive price for guests is and any additional fees need to be transparent for all your guests and members, so that guests feel they have to feel they have had good amenities, traveling with pets and EV charging (EV charging is the highest searched amenity) constantly trying to keep up with guests expectations is essential to hotel brand offerings.
The travelling middle class is projected to be $5 billion by the end of the decade and the spending power will come from the Middle Class and the next $1 billion is coming from Asia and this will shift global travel, with India as a source market and rising power domestically and international travel they are at a pivotal moment eclipsing China, as largest populas country and it unlocks a financial empowerment that they have in travel – from the infrastructure and tertiary markets in India is growing at a fast pace.
An all-inclusive price for guests is key and additional fees need to be transparent for all your guests and members to feel they have had good amenities, traveling with pets and EV charging ( EV charging is the highest searched amenity) constantly trying to keep up with guests expectations is essential to hotel brand offerings. Hotel Fees – resort (Junk)fees in the US – hotels need to give guests confidence in their final bill and be more transparent in the final bill and feel they have gotten the best price and got the best amenities.
Marketing opportunities for hotel groups will level up the key is to be able to make it easy for franchisees to upscale select service hotels, there are significant ways to drive revenue sources from ordering in pizza, to having a spa and create multiple revenue streams.
Driving hotel bookings – the power of the direct booking at the lowest acquisition cost and drive repeat guest bookings is key. Covid saw that guests wanted to book directly with the brand hotels and feel secure that the brand would look after them if anything went wrong and this has only continued to grow in the following years – people want control and want to book direct with the brands.
Loyalty programmes – Wyndham hotels and resorts have a 78% success sign up rate which is more than Marriott. Wyndham – keep it simple – 3 levels of loyalty tiers and keeping the reward currency the same in return for best loyalty programme. It’s easy to attain and guests want to be rewarded for their business and easy to earn and redeem them right away for value conscious travellers.
- The Ozempic Era Will Force the Travel Industry to Adapt
- Your IV is Ready, Sir – Colin Nagy
- Executives, Meet Your New Intern: Artificial Intelligence – Justin Dawes
- ‘Made in Dubai’ is the Next Global Brand
- How hotels will seduce the Middle Class Traveller – Sean O’Neill
- Supply Chain Nightmares will haunt the airlines – Jay Shabat
- The Rise of the Indian middle class as a major force in travel
- Robotics vs. Demographics: The Big battle to come – Dawit Habtemariam
- How travel can fix the world’s great loneliness crisis – Dawit Habtemariam
- Loyalty and the Brand’s role across the traveller journey – Allianz Partners + Skift
To view the full article from Skift, about their megatrend predictions 2024, click here.
To view the Travel & Hospitality section of our website, click here.