So much has changed in the hospitality industry since 2019.
As well as the challenges brought on by the pandemic where we’ve seen closures, redundancies, staff shortages and supply delays, and now ongoing pent-up demand following two years of very limited travel – there’s also the worry of inflation and a looming recession.
Consumer behaviour has also changed. Traditional compsets have shifted, while conventional forecasting methods based on historical analysis are simply no longer effective. Demand has become harder to predict with any level of certainty, and, with more hoteliers trying to capture a smaller pool of predominantly leisure travellers, competition is fiercer than ever.