Budget-friendly hotels are the world’s top revenue-generators
According to the latest Allianz Partners Travel Data report, Hampton by Hilton (HLT) emerged as leader in global room revenue.
31 August 2023
31 August 2023
According to the latest Allianz Partners Travel Data report, Hampton by Hilton (HLT) emerged as leader in global room revenue.
The building's status was in limbo for almost six years due to the owners' unsuccessful $1bn auction attempt in 2017.
This directive comes as a result of unauthorised expansions and additions which have been deemed detrimental to the Green Belt.
Suburban and resort properties seem poised to capture more group business, potentially taking share away from larger urban hotels.
Located in the centre of South Bay, the two hotels are developed and owned by Mogul Capital.
The addition has expanded the brand’s destination portfolio, which also includes Manama, Istanbul and Athens.
Israel expects domestic and inbound tourism to generate NIS75bn ($20bn) in revenue by the end of the 2020s.
Located in the Shibuya neighbourhood of Tokyo, the hotel features 272 rooms, a restaurant and a neighbourhood café.
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The increased need for privacy, a greater focus on health and wellbeing, a desire to tick off ‘bucket list’ experiences, the tendency to take longer trips, the focus on eco-tourism, and an increase in millionaires means the theme of premiumization will continue to grow in importance. The travel industry will experience a surge in demand for higher-end and customized offerings as experiential consumption keeps growing. While premiumization attracts only a small number of global travelers, it is a valuable revenue stream for companies as it is unlikely to be impacted by external factors like economic downturns.
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