TOP 10 Global Market Trends:

1. New Year, New Look: The start of 2024 is the perfect time to rebrand, or so goes the thinking for many hospitality brands. Step forward Staycity Group’s Staycity and Wilde, and others. 
2. Easing Rates: While record high hotel accommodation rates of 2023 won’t be dropping anytime soon, the pace of growth is tipped to at least slow. BTN’s Business Travel 2024 Outlook predicts a “degree of stabilisation” with hotel rates expected to settle down in 2024, based on forecasts from travel agency CWT and the Global Business Travel Association;
3. Sustainability Reporting: The European Union's Corporate Sustainability Reporting Directive (CSRD) became effective this year, and requires companies to provide detailed sustainability reports, encompassing everything from environmental impact to social responsibility;
4. Artificial Intelligence (again): As with the latter part of 2023, generative artificial intelligence is remaining on everyone’s radar for this first quarter. Relocation expert Sirva, like many mobility organisations, said it’s using itto analyse retention data for employees who have been on an assignment over a certain number of years; assess return on investment for specific assignment types; gauge the success of mobility programs; and identify opportunities to improve post-assignment employee retention;
5. Investor Appetite, M&A Trends: Hospitality investors are turning to the corporate segment of the market at the expense of a leisure market, which is expected to plateau in 2024.
   
   

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