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TOURISTS ARE PROJECTED to maintain or increase their travel spending in 2024 compared to the previous year, according to American Express Travel's "2024 Global Travel Trends Report". Approximately 84 percent of respondents from countries including the U.S., Australia, Canada, India, Japan, Mexico, and the U.K. anticipate spending the same or more, with 77 percent prioritizing the quality of their travel experience over cost considerations. "Travelers are focused on creating the right itineraries and building memories, whether that means booking a trip to see a favorite sports team compete or taking a once-in-a-lifetime expedition cruise," said Audrey Hendley, American Express Travel's president. "Our 'Global Travel Trends Report' sheds light on what is driving global travel bookings and provides inspiration for where to go next." About 65 percent of respondents express greater interest in embarking on a major trip in 2024 compared to previous years, the report said. Additionally, 72 percent prefer saving money for a major trip over spending it on social outings with friends. More than half of respondents intend to save for a major trip over a span of six months to two years.

SOUTH INDIAN CITY Hyderabad topped the list of most-booked cities in India for 2024, according to a recent study by OYO. Religious tourism remains strong, with Puri, Varanasi, and Haridwar as key spiritual destinations, drawing large numbers of pilgrims. OYO's annual "Travelopedia 2024" report analyzes travel trends using its booking data. "2024 has marked a year of transformation in global travel," said Shreerang Godbole, OYO's global chief service officer. "Travellers are embracing flexibility, whether for business or leisure. Remote work trends are driving demand for both quick getaways and long stays." Hyderabad led bookings, with growth in both leisure and business travel, followed by Bengaluru, Delhi, and Kolkata, the study found. Uttar Pradesh remains India's top travel state, with Maharashtra, Telangana, and Karnataka also showing strong booking volumes. Smaller towns like Patna, Rajahmundry, and Hubli saw up to 48 percent year-on-year booking growth, indicating rising interest in non-metro destinations.

HOTELS IN THE Americas performed above 2019 levels, although RevPAR is stabilizing amidst decreasing consumer travel spending, according to real estate firm JLL. This has affected resort markets heavily dependent on leisure travel. In contrast, urban travel demand is on the rise, driven by group, corporate, and inbound international travel. According to JLL's Global Real Estate Perspective for February 2024, global hotel RevPAR surpassed 2019 levels by 11.7 percent in the first 11 months of 2023. The global urban market strengthened with increased international travel and the return of business and group demand. London, New York, and Tokyo are expected to lead global RevPAR performance in 2024 as urban travel rebounds. Stabilization has weighed heaviest in resort markets, particularly in the Americas and EMEA, while Asia-Pacific continues to accelerate as intraregional travel grows following border reopenings, the report added. Foreign capital, absent since the onset of COVID, is expected to become more active over the next 12 months. Middle Eastern and Asian investors are likely to lead, with urban markets in Europe and select U.S. cities as primary recipients of capital.

HOTEL BOOKINGS FOR Easter 2025 are up 16.8 percent from the same period last year, according to SiteMinder, a hotel distribution and revenue platform. The data, comparing bookings at the same properties across nine markets 30 days before Easter in 2024 and 2025, shows stronger demand, earlier bookings and growing interest in international travel. These global trends are mirrored in the U.S., where SiteMinder data showed a 14.98 percent rise in Easter weekend bookings as of March 18-an average of 3.6 more reservations per property compared to the same period in 2024. "With Easter falling later this year than in 2024, we're not just seeing stronger travel demand-we're seeing travelers rethink how they plan," said James Bishop, SiteMinder's vice president for ecosystem and strategic partnerships. "Earlier bookings and a rise in international travel are shaping this year's trends, with the later holiday creating more favorable conditions in many regions. But flexibility remains key-historically, domestic travelers tend to book closer to arrival, meaning the final guest mix and pricing dynamics could still evolve in the coming weeks."

A TOTAL OF 347 mergers and acquisitions, private equity and venture financing deals were reported in the global travel and tourism sector during the first half of 2024, according to GlobalData, a data and analytics company. That is a 12.6 percent year-over-year decline from the 397 deals in the same period of the previous year. North America saw a 31.7 percent year-over-year decrease in deal volume, while the U.S. experienced a 31.5 percent decline in the first half of 2024 compared to the same period the previous year, GlobalData said in a statement. "Even though there was a decline globally due to a dent in deal-making sentiments, the trend was a mixed bag across different markets and regions, with some countries contributing to the decline while some experienced improved activity," said Aurojyoti Bose, GlobalData's lead analyst. "And the same was the case for the deal types under coverage."

THE U.S. REMAINS the world's top travel and tourism market, contributing a record $2.36 trillion to the economy last year, according to the World Travel & Tourism Council. Despite a slow recovery in international spending, the U.S. holds nearly double the economic contribution of its closest competitor. The council's 2024 Economic Impact Trends Report found that travel and tourism remain vital to many economies, supporting millions of jobs worldwide. "As we look forward to a record-breaking 2024, it's clear that travel and tourism are not only back on track but also set to achieve unprecedented growth," said Julia Simpson, WTTC's president and CEO. "We will continue to prioritize sustainability and inclusivity, ensuring that this growth benefits everyone and protects our planet for future generations. The sector's resilience and potential for innovation continue to drive us forward."

ECONOMIC HEADWINDS AND geopolitical concerns are expected to affect U.S. hotel performance in 2024, according to PwC. The issues include continuing high interest rates and the Israel-Palestine conflict. Occupancy levels have consistently decreased over the past seven months compared to the same period in 2022. This downward trend is anticipated to persist for the remainder of this year and extend into at least the first quarter of 2024. However, PwC forecasts a 63 percent annual occupancy rate for US hotels this year. Hotels in the U.S. experienced a weakening in leisure demand during the latter part of this year, as global vacation destinations reopened, and leisure travelers regained confidence in traveling abroad, PwC said in its latest report titled U.S. Hospitality Directions: November 2023. Moreover, gains in individual and group business travel haven't completely counteracted this softening.

U.S. REVPAR IS expected to grow by 1.2 percent this year, down from the previously forecasted 2 percent, according to CBRE. Despite lower full-year projections, second-half growth is set to improve, with a 2 percent increase compared to 0.5 percent in the first half. CBRE's 2024 Global Midyear Hotels Outlook attributes these second-half growth projections to election-related events in the U.S., easier year-over-year comparisons, rising inbound international visitors, anticipated interest rate cuts, and a slight uptick in group and business travel. In the first half of 2024, RevPAR in 57 of the 65 U.S. markets tracked by CBRE returned to pre-pandemic levels. Most of the eight markets still lagging are in Northern California and the Upper Midwest. Major East Coast markets, including New York, Boston, Washington D.C., Atlanta and Miami, have surpassed 2019 levels.

HOTEL WEBSITES LED all booking sources in revenue per booking in 2024, generating an average of $519, 60 percent higher than other channels, according to SiteMinder. Furthermore, the largest volume of hotel reservations from a single technology platform rose 8.5 percent year-over-year, with a value-per-booking 60 percent higher than OTAs at $320. SiteMinder's Hotel Booking Trends report, based on more than 125 million reservations, found the figure was 35 percent higher than global distribution systems at $380 and 15 percent higher than wholesalers, DMCs and tour operators combined at $446. Direct booking value rose year-over-year, with hotel websites holding or improving their position among top revenue sources in all major travel destinations for the first time. In the U.S., hotel websites remained the third-highest revenue-generating channel.

INTERNATIONAL TOURISM REACHED 98 percent of pre-pandemic levels in 2019, with approximately 1.1 billion tourists traveling internationally in the first nine months of 2024, according to the United Nations tourism agency. The Americas recovered 97 percent of pre-pandemic arrivals, down 3 percent from 2019. In its "World Tourism Barometer" report, the Madrid-based UN Tourism forecast a "full recovery" by year-end despite economic, geopolitical and climate challenges. International tourist arrivals grew due to strong post-pandemic demand in Europe, solid performance from major source markets and the ongoing recovery of destinations in Asia Pacific, the agency said. Tourist arrivals in the Middle East, Europe and Africa exceeded 2019 levels, with increases of 29 percent, 1 percent and 6 percent, respectively.

MARRIOTT INTERNATIONAL REPORTED record growth in 2024, opening 123,000 gross rooms and achieving 6.8 percent net room growth. The company ended the year with more than 577,000 rooms in its development pipeline and signed more than 1,200 deals-an average of three per day-totaling nearly 162,000 rooms globally. The company signed a record 608 deals in the U.S. and Canada last year, Marriott said in a statement. "2024 was a year of growth for Marriott, with regional milestones, segment entries, brand expansions, and market debuts," said Anthony Capuano, Marriott's president and CEO. "We remain focused on connecting people through travel, and I'm excited about the work our global teams are doing to drive growth, innovation, and deliver strong results for our owners and franchisees."

U.S. HOSPITALITY BUSINESSES reported a 108.2 percent year-over-year health metric for the fourth quarter of 2024, the highest in four quarters, according to the Hospitality Group and Business Performance Index by Cendyn and Amadeus. Tampa, Houston, and Miami led the top 10 cities in rankings. The index combines event data from Cendyn's Sales Intelligence platform, formerly Knowland, with hotel booking data from Amadeus' Demand360, covering group, corporate negotiated, global distribution system, and events performance, the companies said in a joint statement. Top 10 cities by index: Tampa - 121.4 percent Houston - 120.6 percent Miami - 116.8 percent New York City - 112.0 percent Chicago - 111.6 percent Phoenix - 110.4 percent Detroit - 109.8 percent Louis - 109.6 percent San Diego - 109.6 percent New Orleans - 108.3 percent

APPROXIMATELY 53 PERCENT of Americans plan not to use all their vacation time this year, despite receiving 12 days annually, the fewest of any country, according to a recent study by travel platform Expedia. Vacation deprivation in the U.S., defined as the feeling of not having enough time off, reached an 11-year high at 65 percent, even as rates have decreased in many other parts of the world. Expedia's 24th annual Vacation Deprivation Report 2024, which surveyed 11,580 people across 11 countries in March and April, found that American and Japanese workers take a similar number of days off each year, 11 and 12 respectively. However, Japan has the world's lowest vacation deprivation level at 53 percent. This may be due to Japanese workers taking more frequent short vacations and prioritizing relaxation during their getaways, Expedia said.

CROWNE PLAZA HOTELS & Resorts, part of IHG Hotels & Resorts' portfolio, recently rolled out its "New Modern" design across U.S. properties with zones for productivity, restoration and collaboration. The design caters to the growing bleisure travel segment. The company expects 70 percent of Crowne Plaza's Americas estate to feature updated designs by late 2025, IHG said in a statement. "As the once firm lines between business and leisure travel blur further, Crowne Plaza remains a trusted leader at the forefront of serving the new blended traveler," said Ginger Taggart, IHG's vice president, brand management for global premium brands. "Our latest design approach introduces more inviting gathering spaces that inspire connection and enable guests to balance business and social interaction."