$550 billion US dollars. That is the revenue figure predicted for 2016 across the worldwide hotel industry. Revenues have been rising rapidly since 2011 when the industry was worth $457 billion US dollars. If past examples are anything to go by, both Europe and the Asia Pacific regions continue to lead in terms of hotel occupancy rates, while Africa and the Middle East average the most expensive locations for daily hotel room rates.
Business, marketing and technology trends are many and their individual requirements and implications dominate the wider hospitality sector, not just the hotel industry alone. The rise of mobile and the response in how it is used across mobile devices and apps offering guests more customised services is a crucial trend in the hotel technology sector for example. For more examples, have a look at this infographic created by The Dunloe Hotel, which illustrates the top hotel trends forecast for the year ahead.