2%-the overall average rise globally in hotel rates, according to American Express Global Business Travel’s Hotel Monitor 2019, which also reports the APAC region is anticipated to account for nearly 2/3 of global growth, with around 5.6% GDP growth in 2018 and 2019
$193 billion the global market for vacation rentals by 2021
Europe is expected to generate the highest revenue and growth, according to Custom Travel Solutions, which published a new report, “Vacation Rentals in the Sharing Economy: How Property Owners and Managers Can Build Their Brand & Revenue.”
niDays and AdAge revealed findings of a survey of 11,000+ college students in the U.S., U.K., Australia and New Zealand, and on the UniDays network. Gen Z commands up to $143 billion in spending power in the U.S. alone.
Highlights include:
Gen Zers have their own money and want to spend it on travel. These are no longer kids traveling with mom and dad; these are independents willing to spend an average of up to $750 per trip.
While Airbnb may have disrupted the industry, more traditional hotels are back in favor: 58% said they’d rather stay in a hotel than Airbnb or vacation rentals.
They like to eat out. The #1 activity for a Gen Zer on a trip is eating out (though Instagrammable moments are required).
3,500 the number of guests the Buffet at Wynn feeds everyday.
Also, on a daily basis, there are:
100 cooks, chefs and pastry chefs at 15 stations
5,000 eggs cracked
800 pounds of slow-roasted prime rib carved
600+ three-egg omelets made
And each year:
85,000 Hawaiian pineapples are served
69,000+ pounds of shrimp are served
500,000+ pot stickers and dumplings are crafted by hand
1 million+ sushi pieces are rolled