First off, it’s worth reminding ourselves that the long-term growth profile for travel is positive. The World Travel and Tourism Council said travel, in dollar terms, will grow by 3.6% a year over the next decade. That might seem modest in percentages, but it’s greater than the overall world economy, which it says will grow by 2.4% a year over the same period.
A vacation begins long before a suitcase is packed. It begins in an ordinary moment: a tiring afternoon, a conversation with a friend, a photograph of somewhere unfamiliar. Suddenly, the mind moves beyond its immediate surroundings.
 For many years Booking Holdings has framed its vision around its ability to connect various elements of travel together for consumers. The online travel giant has revealed some connected trip success in earnings, with customers booking more than one element for the same trip. But, perhaps the bigger question now is the impact artificial intelligence (AI) might have on its strategy. |
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Hospitality is a people business. Even as the use of technology and data has expanded across the industry, the importance of personal connections remains foundational to hospitality. However, rising costs, staffing challenges and higher expectations from both guests and investors are putting the humanity at the heart of our industry under strain.
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Luxury hospitality stands at a defining moment. The industry has never been more prosperous: post-pandemic recovery has delivered record demand, rising revenues and renewed investor confidence. Yet embedded within this success is a profound risk: that prosperity will reinforce outdated mindsets that limit innovation.
