Tech Report

The global hotel market reached a retail value of over $600 billion in 2018, an approximately 5.3% growth rate from 2017 ($570 billion).

Despite the long history of the hotel sector, players in the market continuously seek to cater to changing customer demands. The gradual acceptance of technology and innovation has made it one of the most exciting and unpredictable sectors.

Guests are now demanding more personalised options so that properties can meet their requirements. The wave of digitisation in the hotel sector has also intensified competition. Therefore, hotel owners are striving to leverage their resources and upgrade their processes to retain loyal clients.

The pandemic has made the situation extremely difficult for the travel and tourism industry. Due to frequent lockdowns and travel restrictions, hotels are unable to stay afloat.

We analysed nine exciting business models that can help the hospitality sector explore new avenues of growth as well as help them cope with the new realities of our world.


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