Hotels and the Middle Class Traveler
Skift Take
Key Points
- Skift's 2024 Megatrends highlight opportunities in mid-market hospitality driven by a growing global middle class.
- Major hotel chains such as Wyndham, Hyatt, and Hilton are investing in select service hotels to attract middle-class travelers.
- Research indicates that despite numerous mid-tier brand launches, demand for such hotels will outpace supply through 2030.
Summary
Skift's 2024 Megatrends report emphasizes the potential in mid-market hospitality as a growing global middle class drives demand. In the first episode of a series discussing these trends, Skift's Sarah Kopit and Sean O'Neil explore how major hotel chains like Wyndham, Hyatt, and Hilton are investing in select service hotels to attract middle-class travelers. Despite numerous new brand launches, research suggests that demand for mid-tier hotels will exceed supply through 2030.
Skift Podcast
Compelling discussions with travel industry leaders and creatives who are helping to shape the future of travel.Skift’s Megatrends for 2024 were released at the beginning of the year, our 12th annual reporting on the trends defining the travel industry.
Today, we’re proud to present the first episode in a series highlighting these Megatrends featuring Skift’s editor-in-chief Sarah Kopit and Skift Hotel Editor Sean O’Neil. They discuss the Megatrend that Sean himself penned, entitled “How Hotels will Seduce the Middle Class Traveler”, where Sean explains how a growing global middle class and ample opportunity in mid-market hospitality should result in continued and increasing investment in so-called select service hotels.
Subscribe
Apple Podcasts | Spotify | Overcast | Pocket Casts | Google Podcasts | Amazon | RSS
Host: Sarah Kopit
Guest: Sean O'Neil
Producer: Jose Marmolejos
Sean spoke with Wyndham Chief Marketing Officer Lisa Checchio at the Megatrends release event in New York last week and he relates how Wyndham and other major hotel players, such as Hyatt and Hilton, are approaching this focus on Midscale. Sarah and Sean also discuss other Megatrends related to: the growing Indian middle class, the impact of artificial intelligence, and the controversy surrounding hotel junk fees.
Lastly, Sean shares insights on the hotel market's supply and demand dynamics. Despite numerous new brand launches in the mid-tier segment, research suggests a balance in supply and demand, with more demand than supply projected through 2030.
Photo Credit: Wyndham CMO Lisa Checchio speaking with Skift’s Sean O’Neil at Skift Megatrends in New York City in January 2024. Skift
Up Next
How Data Quality Issues Impact Global Hospitality Operations
U.S. Safety Investigators Are Reviewing Air Traffic Controller Staffing
United Airlines Shuts Down Rumors About a Merger
