Beyond Recovery: The American Hotel & Lodging Association 2024 State of the Industry Report

The 2024 report from the American Hotel & Lodging Association highlights key industry trends and predictions. As the sector moves beyond recovery, technological adoption, particularly in cloud and AI, is set to enhance operational efficiency and guest experiences. Inflationary pressures remain a concern, with geopolitical risks potentially impacting costs. Cleanliness and friendly service are emphasized for positive guest experiences, while the demand for memorable events and AI-augmented services grows. New York City’s room rate surge is attributed to regulations on short-term rentals and submarket shifts. Investment activities may accelerate, spurred by impending loan maturities and strong demand for leisure travel. Parking services are highlighted as a significant revenue source, underscoring the importance of technology in enhancing guest satisfaction and optimizing revenue.