In the aftermath of a robust resurgence in the travel industry throughout 2023, hotels are gearing up for a transformative 2024, marked by shifting consumer preferences and the rise of cutting-edge technologies to help hotels address increasingly complex consumer and operational demands. This article explores the top 10 trends poised to redefine hotels and the wider travel and hospitality landscape in the coming year.
Article - U.S. Hotels State of the Union November - Q3 Brand.com Demand Was 11.8% Above 2019, Outperforming OTAs - CBRE U.S. Hotels State of the Union November 2023 Edition
Since 2020, the Louisville hotel market has seen an increase in leisure travel associated with bourbon tourism, its nearby universities, and the Kentucky Derby. It is because of these large demand generators that the market has been able to recover most of its occupancy-based COVID-19 losses. Commercial travel has also helped to bolster the market. As employees have begun to return to offices and as business travel has increased, demand within this segment has improved.
Article - HVS Market Report - Louisville, KY Hotel Market: Room to Grow - By Kaitlyn Hennessy - The hotel market in Louisville, Kentucky, has experienced a slow recovery since the peak of the COVID-19 pandemic. While a copious amount of new supply over the past few years has slowed the recovery, ADR has grown steadily. The area will continue to be supported by bourbon tourism, the University of Louisville, and the Kentucky Derby.