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Year in Review: Examining the Industry Trends Set to Influence Hotel Business Performance and Success in 2024

By Gustav Hagangen 22. December 2023

Year in Review

With 2023 representing a year of steady performance for much of the global hospitality industry, many hoteliers are no doubt looking forward to experiencing a significant increase in business growth in the year that lies ahead. Yet while forecasts for 2024 expect the global industry to further stabilize and grow, properties and brands that stay on top of the latest trends are sure to gain an edge that sees their market share increase. As we edge closer towards the new year, it’s therefore vital to take note of the technological achievements and other industry milestones that are already impacting businesses and that are sure to have a stronger influence on hotel performance in the months ahead.

For our readers aiming to stay a step ahead of evolving standards and guest expectations, be sure to review our list of highlighted 2023 blogs below for a snapshot of what should be at the top of their business strategy priorities heading into 2024 and beyond:

 

Working with Your Hotel Technology Solution Provider to Tackle Cybersecurity Risks

As hotels and resorts race towards IoT-based technology adoption, the risks that a property or brand may experience a cyberattack are undoubtedly increasing. However, hoteliers and their employees are by no means left to their own devices and can instead look to leading technology providers for enhanced protection and support. From eliminating potential vulnerabilities to monitoring for suspicious behavior, such providers can make all the difference in minimizing the likelihood of experiencing a breach.

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Smaller Carbon Footprint Translates to Bigger Profits for Hotels and Resorts

Adopting eco-friendly practices isn’t just important to protecting business reputations in today’s industry, it’s also proving to be a highly effective means of increasing revenue. With opportunities to increase booking numbers, minimize monthly utility costs and more, making sustainability a top business priority is certainly a win-win situation for hoteliers striving to enhance their image while also eliminating unnecessary waste.

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What the Rise of Bleisure Travel Means for Hotel Operations and Technology Adoption Strategies

The global pandemic has undeniably left a lasting influence on consumer preferences and behaviors, with the rise of the bleisure traveler being one of the most influential for hospitality industry businesses. As businesses and their employees seek to save on both time and expense, bleisure travel has become an increasingly common trend that sees those traveling for work also find ways to incorporate aspects of leisure. Whether aiming to have family members join them or experience a peaceful and relaxing stay of their own, bleisure travelers represent a significant opportunity for hoteliers to increase revenue streams and discover new ones if they recognize how to cater to this unique type of guest.

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A Look at What’s Next in Hotel Security Technology

Advances in hotel-based technologies are occurring at an ever faster rate and is especially the case when it comes to property security solutions. As would-be intruders become more innovative in their methods and as hotel guests demand ever more seamless, convenient and personalized service, the industry’s leading solution providers are continuing to innovate in order to keep hotel businesses a step ahead. With recent advances in keycard, digital key and cloud-based access management capabilities, today’s hoteliers are now more than ever able to deliver safer, instantly custom-tailored experiences that always exceed expectations.

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Artificial Intelligence 101: How New Advances Are Shifting the Hospitality Technology Landscape

Adoption of AI-based technology has skyrocketed across industries and regional markets around the world. From chatbots and virtual assistants to smart sensors and advanced machine-learning based data analytics, artificial intelligence has undoubtedly gained a major presence throughout many facets of a modern hotel business. Able to boost service quality, operational efficiency and service personalization to new heights, the technology is undoubtedly set to continue playing a game-changing the years that lie ahead.

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Gustav Hagangen's photo

By: Gustav Hagangen

Gustav serves as Director, Global Marketing & eBusiness at ASSA ABLOY Global Solutions. Driven by his passion for B2B marketing and project management, Gustav oversees company digital marketing and eBusiness strategies to ensure that they align with customer needs. At the same time, he nonetheless remains a generalist and is committed to understanding all aspects of business in order to maximize company growth opportunities and the ability to spur additional innovation in technology. A member of the ASSA ABLOY Global Solutions team for over 10 years, Gustav has been credited with the success of numerous cross-functional and cross divisional projects- from rebranding initiatives and product launches to the rollout and implementation of digital campaigns and tools.

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