Hospitality is all about delighting guests through superior-grade services. Our solutions help hotels, restaurants and other establishments in hospitality industry to digitize operations for promoting better guest experience.


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Growth pre-pandemic

In pre-pandemic times, the hospitality industry was growing due to factors such as an increase in disposable income and a growing middle class, which led to more people traveling and staying in hotels. The rise of online travel booking platforms and mobile apps also made it easier for people to plan and book their trips, which also contributed to the growth of the industry. According to data from the World Tourism Organization (UNWTO), the number of international tourist arrivals grew by 4% in 2019, reaching a total of 1.4 billion.

Niche markets growth

The hospitality industry, which includes the travel, tourism, and hotel sectors, has experienced significant growth in recent years. However, the COVID-19 pandemic has had a major impact on the industry, causing a sharp decline in demand for travel and hotel stays. But as life comes back to normalcy, the industry has witnessed a never-seen before growth. 

The Hotels segment is forecast to generate revenue of US$7.66bn by 2023 and is predicted to experience an annual growth rate of 8.29% from 2023 to 2027. This is projected to result in a market volume of US$10.53bn by 2027. Additionally, it's estimated that the number of users in the Hotels segment will reach 61.3 million by 2027.

One of the key trends in the hospitality industry in recent years has been the increase in the number of boutique and luxury hotels, as well as the rise of vacation rental platforms like Airbnb. The growth of these niche markets has provided more options for travelers looking for a unique and personalized experience. The luxury hotel market reached a value of $110 billion in 2022, according to data from Allied Market Research.

Impact of COVID-19 pandemic

The hospitality industry has been deeply affected by the COVID-19 pandemic. The travel restrictions and lockdowns implemented around the world caused a sharp decline in demand for travel and hotel stays. This has had a significant impact on the industry, with many hotels and airlines facing financial difficulties and cutting jobs. According to data from the World Travel & Tourism Council (WTTC), the travel and tourism industry lost $4.5 trillion and 75 million jobs in 2020 due to the pandemic.

Hotel owners are utilizing social media as a key marketing strategy to increase exposure and drive bookings. They are finding that this approach proves effective in reaching a larger audience and boosting bookings. Additionally, the trend of using hotel booking apps is on the rise among consumers as it provides an easy and convenient way to find and book accommodations that match their specific preferences and needs.



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