San Diego, Feb. 26, 2024 – Cloudbeds, the hospitality administration platform powering extra reservations and happier friends for impartial lodging companies across the globe, as we speak launched its 2024 State of Impartial Lodging Report.
The second annual version of the report affords a singular and data-rich perspective on the worldwide impartial lodging phase, shedding mild on insights and tendencies from property sorts and segments usually ignored in {industry} reporting.
Adam Harris, Co-Founder and CEO of Cloudbeds, mentioned: “The outlook for the journey {industry} in 2024 appears to be like fairly encouraging, with financial forecasts shifting from fears of a worldwide recession to expectations of a gentle touchdown and average progress.
“Superior applied sciences are more likely to usher in a shift in how homeowners, operators, and hoteliers do enterprise as they chase demand. Unplanned overbookings, entrance desks staffed 24/7, and advertising and marketing or finance levels to optimize income will quickly be a factor of the previous. So are siloed and disparate legacy methods.
“As we speak, we’re happy to unveil our findings from 1000’s of impartial properties worldwide, empowering lodging companies to benchmark their efficiency in opposition to {industry} friends.”
Key findings from the report embody:
- Occupancy patterns are projected to stay constant in 2024. With demand comparatively flat, motels might want to focus efforts on rising market share and RevPAR.
- With vacationers anticipated to be extra price-sensitive this yr, hoteliers might battle to boost their common every day charges (ADR) and may discover new methods to hedge inflation.
- On-line journey businesses (OTAs) have returned stronger than ever. In 2023, OTAs generated 60.5% of worldwide bookings, the next proportion than in any of the earlier three years and far increased than the 39.5% of bookings generated on direct channels.
By leveraging a wealth of aggregated and anonymized information from throughout the globe, Cloudbeds has additionally recognized six new tendencies poised to reshape the journey panorama in 2024. These embody a resurgence in lagging market segments, an uptick in inflation-busting journey hacks, and new spins on experiential journey. As well as, Cloudbeds anticipates continued progress within the short-term rental sector (regardless of rumors on the contrary), new efficiencies pushed by generative AI, and rising demand for brand new abilities amongst next-generation hoteliers.
The brand new tendencies complement final yr’s 5 key developments, that are set to proceed this yr: value-driven decision-making, the shift to digital entrance desks, blended journey assembly hybrid hospitality, new applied sciences to disrupt journey search and inspiration, and a shift from specializing in facilities to visitor experiences.
Cloudbeds’ findings are grounded in information from 10,000+ impartial properties, encompassing boutique motels and visitor homes, B&Bs, and lodge teams in over 100 nations. The outcomes are divided into 4 areas: North America, Latin America (together with Mexico), Europe, and Asia Pacific (together with Australia and New Zealand).
To obtain a free copy of Cloudbeds’ 2024 State of Impartial Lodging Report, go to https://www.cloudbeds.com/hospitality-industry-report.
About Cloudbeds
Cloudbeds is the platform that powers hospitality, enabling tens of 1000’s of lodging companies in additional than 150 nations worldwide to develop and thrive. The award-winning Cloudbeds Platform brings collectively expertise options to extend income, delight friends, and streamline operations right into a single unified system, enhanced by a curated market of third-party integrations.
Based in 2012, Cloudbeds was named No. 1 PMS, No. 1 Lodge Administration System, and No. 1 Visitor Messaging Software program by Lodge Tech Report in 2023 and was acknowledged as a serious participant within the 2022 IDC Marketscape Report. For extra info, go to www.cloudbeds.com.
