Hotel Trends to Watch
We recently got our quarterly report on the hotel market from Worldwide Independent Travel Network and these are some interesting trends the report highlighted for 2016:
Hotel rate increases will slow down.
It will still be a record year worldwide though and The Global Business Travel Association predicts an average increase of 2.5%. This is partly due to increased occupancy demand across both business and leisure travel.
More things being included in ancillary costs
Faster Wi-Fi upgrades, resort and city taxes are being listed as ancillary costs that have to be paid on departure more frequently.
Major hotel chains are expanding through acquisition
Accor has recently purchased Fairmont Hotels and Marriott are in the process of buying Starwood Hotels and Resorts. More of these transactions will lead to increases in rates.