Industry Trends

Leisure and Luxury Travel Dominate Hospitality Project Priorities

The Hospitality industry as a whole has perhaps seen some of the most significant changes in the way that it operates during the pandemic.

The Hospitality industry as a whole has perhaps seen some of the most significant changes in the way that it operates during the pandemic. The ways in which we travel, both for business and for leisure, have been in flux for over two years. At the 45th Annual NYU International Hospitality Industry Investment Conference, we saw that uncertainty remains an overriding concern within the Hospitality sector. Although leisure destinations are showing continued success, business travel has not yet returned to pre-pandemic levels.

On the other hand, while attending the Independent Lodging Congress Event in Brooklyn, NY, we learned that the future of smaller, independent hotels looks bright. With luxury travel still in demand, many Owners and properties are looking at new and exciting ways to differentiate themselves.

Some of the future trends to look for in the Hospitality industry include:

  1. Independent hotels are committed to their Food and Beverage experiences. In particular, they are dedicated to unique dining and its relationship to the guest’s stay. An exciting trend is the emphasis on sustainably and locally-sourced foods, including food grown on-premises in some areas.
  2. Despite their independent status, many properties are at the forefront for their initiatives to integrate new technologies, including blockchain, token-based economics, and other Web 3 technologies.
  3. At the heart of the independent hospitality industry is the deep desire to create hotel stays that are based upon unique “experiences” that will be memorable for guests.

If you are planning a Hospitality project — or are in the midst of one and have questions — reach out to us through the form linked below.

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