The hospitality industry has seen record growth over the past decade, and the overall trend will surely continue for the next.
Statistics compiled by consulting firm Deloitte1 show that hotel gross bookings in the United States grew from $116 billion in 2009 to $185 billion in 2017, a 59% increase. Airline revenue rose from $155 billion to $222 billion over the same period, while related sectors including restaurants and ground transportation saw similar increases.
Factors contributing to this growth include a long stretch of economic stability, the number of businesses expanding their global footprint, and a maturing population reconnecting with a love of travel. But with increased growth comes increased competition, and many businesses in the hospitality industry are turning to technology to help improve operations as part of an effort to gain (and retain) an edge.
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