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An improvement in economic conditions is on the horizon with leisure and business tourism set to benefit, according to CBRE Director – Hotels and Leisure, Peter Hamilton. Following an initially strong recovery in demand following international border openings in mid-2022, demand growth slowed in most New Zealand hotelmarkets from early 2024.
Shaking up the mid-scale hotelmarket, Hilton has announced the acquisition of Graduate Hotels for a cool $210 million. Graduate Hotels, known for its youthful vibe and focus on local university connections, boasts 33 properties across the United States and United Kingdom.
When I look ahead to what’s to come in the next year, I’ve walked away from Inbound 2024 thinking there’s a lot going on in the marketing world that holds onto long established concepts like behavioral science and creative messaging - the “human-ness” of marketing, but now - to the power of AI.
For hotelmarketers, navigating this new landscape means ditching the rearview mirror and focusing on the winding road ahead – a road packed with trends that demand both agility and vision. Gone are the days of one-size-fits-all marketing. 2024 is a year of both challenges and opportunities for hotelmarketers.
Introducing Google’s Performance Max Performance Max allows you to span marketing efforts across all of Google's marketing channels, making it an appealing choice for businesses who could benefit from a broad marketing bandwidth. This enables businesses to approach their market in two distinct ways.
Hotels have worked with third parties such as airlines, travel agents, online travel agents (OTAs) and the Global Distribution System (GDS) for decades. The dynamic landscape of hotel distribution offers numerous opportunities for hotels to maximise their market presence and profitability.
Efficient routes and channels allow businesses to get products to market faster. Shared distribution centers with partners streamline operations. Expanded market reach & revenue growth: Unique distribution strategies help businesses access new geographical territories, demographics, and partnerships.
It encompasses everything from the hotel’s name, logo, and tagline to its overall atmosphere, service, and guest experience. A strong hotel brand builds trust, loyalty, and a lasting impression, ultimately driving revenue and marketshare. In addition, marketing to a niche market is generally very targeted.
The global luxury travel market is huge, not in the number of guests with substantial buying power but the astonishing level of buying power that these luxury travellers have. The global Luxury tourism market had an estimated total revenue of USD 1,308.15 billion in 2022, and is projected to be worth USD 3,023.78 billion by 2032.
It’s convenience meets spontaneity, wrapped up in a user-friendly interface that’s as inviting as your hotel’s lobby. For the hotel and travel market , smartphones present a captive audience looking to escape the mundane routine of the everyday. That’s the magic of mobile bookings. How do you pull ahead?
Ryan Embree: Welcome to Suite Spot, where hoteliers check in, and we check out what’s trending in hotelmarketing. Not looking at your local competition to see, maybe there’s some opportunities there to talk about what might be opportunities for you to take more marketshare. I’m your host, Ryan Embree.
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