From Lodging Magazine:
Deloitte’s 2019 U.S. Travel and Hospitality Outlook gives a glimpse into that future, citing the current status of the hospitality and travel industries and forecasting how varying sectors will perform through 2019 and beyond. Additionally, the Outlook notes that by collaborating together, these sectors of the travel industry can continue to grow their businesses and maintain technological and revenue success even throughout a potential downturn in the coming years.
From 2009 to 2017, U.S. hotel gross bookings grew from $116 billion to $185 billion. Although Deloitte’s Outlook doesn’t see a downturn this upcoming year, it implores hoteliers to plan long-term to keep up with that growth in gross hotel bookings. Businesses with strong plans in place for when that downturn inevitably does happen are more likely to maintain profitability. Equally as important is ensuring that when revenue generation isn’t as high, costs aren’t cut where it counts, like on talent and maintaining service levels during the downturn. Click here.