It turns out that 2019 is no longer a good year to compare prices to. That should be a relief to anyone trying to explain why their travel budget looks so different now.
Earlier this year, the Indian government gave a boost to the tourism budget for development, but cut down the global promotion allocation by 97%. Now, as the final Budget is around the corner, the industry is hoping for a more significant resolution to its challenges.
Good news for travelers, bad news for hotel owners. The U.S. hotel industry is seeing a (modest) decline in room rates after a recent dramatic run-up in prices.
Global travel softened due to the seasonality of demand. In October 2023, the Skift Travel Health Index dipped to 103. Europe was impacted the most due to reduced pent-up demand and economic concerns. Despite China's Golden Week holiday, the travel recovery in the country remained sluggish.
A hotel is only as good as its frontline staff. Oyo’s accelerator program is helping small hoteliers achieve long-term profitability and increase earnings by offering mentorship and financial assistance.