What is the new technology in the hospitality industry 2023?
Top Hospitality Technology Trends to Follow in 2023Artificial Intelligence (AI) and Machine Learning (ML) Internet of Things (IoT) Augmented Reality (AR) and Virtual Reality (VR) Robotics and automation.
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H2 2023 RevPAR is now expected to grow by 2.0%, down from 3.2%, while full-year RevPAR will increase 4.6%, down from 6.0%. Urban hotels are expected to perform best over the five years from 2022 to 2027 with RevPar projected to be up 5.5% on a compound annual basis.
A Smart Hotel is a hotel equipped with disruptive technologies such as Artificial Intelligence and IoT (Internet of Things), with the aim of improving management, efficiency and control from the hotel management, as well as offering a better service to guests.
Regarding hospitality trends related to marketing, there are several general trends to be aware of. These include the increased focus on local and voice search, increased use of virtual reality tours to sell hospitality products, a greater emphasis on personalization, and the growth of influencer marketing.
Environmental sustainability remains at the heart of hotel concerns also in 2023. Many are adopting eco-friendly practices, such as the use of recycled materials, responsible water management and renewable energy. OTAs have also made environmental sustainability their priority.
We forecast that real GDP will grow by 2.2 percent in 2023, and then fall to 0.8 percent in 2024. US consumer spending has held up remarkably well this year despite elevated inflation and higher interest rates.