The Skift Travel Podcast
Megatrends 2024: How Hotels Will Seduce the Middle Class Traveler
Jan 18, 2024
The podcast discusses Skift's Megatrends for 2024 and how hotels will seduce the middle class traveler. It covers strategies of hotel groups in appealing to the middle class traveler, the simplicity and success of Wyndham's loyalty program, the mid-market opportunity in India, targeting the rising middle-class traveler market in India and China, the challenge of junk fees, hotel regulations, AI in the hospitality industry, and the importance of personalization in marketing.
31:43
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Quick takeaways
- Hotels are targeting the growing middle class as a key market for growth, focusing on mid-market products and converting existing properties to meet the demand.
- Artificial intelligence is being utilized in the hotel industry to enhance customer service, personalize experiences, and align with the preferences of the middle class.
Deep dives
The Growing Global Middle Class and the Opportunity in Mid-Market Hospitality
The middle class is expanding worldwide, with an estimated 700 million people expected to join by 2030. This growing middle class has a desire to travel and sees it as a status symbol. Hotel groups are targeting the middle class as a key market for growth, as they are the ones who can afford mid-market products. However, there is a supply-demand gap, with hotel construction not keeping pace with the increase in middle-class travelers. To tap into this market, hotel groups are focusing on converting existing mid-tier properties and creating mid-tier brands that offer value and clarity, with features such as free Wi-Fi and breakfast.
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