There were 158,906 hotel rooms under construction across the country in December 2021, a 19.2% drop from the same time in 2020. However, in that same period, there were 248,502 hotel rooms in the planning phase, representing a 38.9% increase from late 2020. While not all of these projects will imminently break ground, this figure indicates that demand for hospitality remains strong and economic recovery within this market sector is likely on the horizon.
The boutique hotel sector, in particular, is seeing tremendous growth. Offering a more personalized, curated experience, boutique hotels currently account for nearly 5,500 hotels across the U.S. (a 7% increase from 2021) and are expected to generate $16.9 billion in revenue this year.
Tourism Economics director Aran Ryan reports that “looking beyond the first quarter, the backdrop for sustained travel recovery is strong. As the public health situation improves, sturdy labor market fundamentals, healthy consumer balance sheets and continued business investment are anticipated to support further lodging demand growth and pricing gains.”
Here are some of the trends we’re seeing for the hospitality space in 2022 and beyond:
- Smart Rooms
Utilizing interconnected internet devices to perform tasks like presetting the shower temperature, ordering room service, and controlling mood lighting, entertainment options and room temperature are rapidly gaining popularity.
- Sustainability & Essentialism
Consumers are increasingly interested in supporting businesses (including hotels) that are actively committed to sustainability. Hotels that prioritize energy conservation, recycling, food waste reduction and essentialism (i.e. the creation of functional rooms void of wasteful extras) differentiate themselves from competitors.
- Solo Travelers
One in four Americans say they’ll travel solo this year. Hotels are increasingly catering to solo travelers in addition to families and professional/work-related travelers.
- Contactless Technology
From hotel property management systems (PMS) systems and mobile apps that offer contactless check-ins, to digital voice assistants and QR codes, touchless technology that was once a pandemic necessity is now a convenience guests enjoy and have come to expect.
Want to discuss the pros and cons of these trends for your next project? Hit us up. We strive to understand your goals as we build strong relationships with our clients and deliver exceptional quality work at a substantial value every time.