United Airlines has postponed a pair of inaugural flights, citing delays by the Federal Aviation Administration (FAA) following a series of recent safety incidents.
24.03.2024 - 23:31 / breakingtravelnews.com
Cloudbeds, the hospitality management platform powering more reservations and happier guests for independent lodging businesses around the globe, has released its inaugural State of Hostels report.
The first-of-its-kind report draws on extensive data, research, as well as daily interactions with hostels around the world to share insights and trends in travel for 2024.
Stephan Leuenberger, Head of Market Development, Hostels, at Cloudbeds, said: “Over the last few years, we’ve seen hostelers navigate the pandemic and push toward full recovery amid rising costs and inflation. Despite higher prices, consumers have demonstrated a determination to travel and a desire for distinctive experiences only hostels can provide.
“As our findings reveal, 2024 will be the year of chasing demand for hostels. This means monitoring market trends and travel patterns closely to determine who is traveling and how best to capture the business.
“Having powered hostels for over a decade, we’re honored to serve this segment of the lodging industry and reveal what it will take for hostels to grow their market share and boost profitability in 2024.”
ADVERTISEMENT
Key findings from the report include:
Hostels are outpacing other types of accommodations in terms of occupancy rates, as economic uncertainty and inflation drive travelers to more budget-friendly options.
Average daily rates (ADR) for private rooms have grown across all regions, while LATAM saw a decrease in dorm ADR as private rooms became more affordable for North American and European travelers.
Globally, revenue per available bed (RevPAB) has outperformed revenue per available room (RevPAR) in terms of growth, indicating the value of shared spaces and their rising popularity among travelers.
Leveraging a wealth of aggregated and anonymized data from across the globe, Cloudbeds has also identified six emerging trends poised to reshape the travel landscape for hostelers and the wider lodging industry in 2024.
These include a resurgence in lagging market segments, an uptick in inflation-busting travel hacks, and new spins on experiential travel. In addition, Cloudbeds anticipates continued growth in the short-term rental sector (despite rumors to the contrary), new efficiencies driven by generative AI, and growing demand for new skills among next-generation hostelers.
Cloudbeds’ insights are underpinned by data from 3,000 properties across 95+ countries, in four regions: North America, Latin America (including Mexico), Europe, and Asia-Pacific. The company has tracked key performance metrics over a five-year period, from 2019 through 2023.
To download a free copy of Cloudbeds’ 2024 State of Hostels report, visit https://www.cloudbeds.com/hostel-report.
United Airlines has postponed a pair of inaugural flights, citing delays by the Federal Aviation Administration (FAA) following a series of recent safety incidents.
The Department of Justice (DOJ) admitted in a court filing that marijuana and cannabis legalization by states does indeed attract tourism.
Legendary supermodel and entrepreneur Cindy Crawford and the founders of Casamigos, Rande Gerber, George Clooney, and Mike Meldman, unveil
Spring is in the air in New York, with a series of exciting openings, launches, events and tourism developments taking place across the state. Below is what’s new, what’s happening and what’s coming up for travellers to the Empire State.
Over the past decade, I've successfully visited all 50 US states solo. I've even made it to most of the major US national parks along the way. Because of this journey, I'm often asked which states I'd recommend to travelers.
When is the eclipse going to happen? North America is about to see a big solar eclipse, but where you are will determine the time, the duration, and precisely what you'll see.
Washington state encompasses such a large and varied terrain that, depending on your travel plans, your budget could either be rock-bottom or luxury – or a combination of both.
Malaysia Airlines has entered into a codeshare agreement with India’s largest airline IndiGo. The agreement would allow the airlines to provide the networks of both carriers to their respective customers.
Pack your bags, quiet that nagging, never-satisfied inner critic, and set off on your very own solo odyssey.
Boston is now the airline’s fourth destination in the United States, joining Chicago, New York and Washington, along with services to Toronto in Canada.
Washington is a state of dramatic differences, both physical and cultural. The east mixes vineyards with stark landscapes scarred by past glacial activity, while the west is a patchwork of drippy evergreen forests, clinging to the skirts of snowy mountain ranges punctuated by dome-shaped volcanoes.
Not everyone can say they've seen almost every inch of the United States. But Lee Abbamonte, a 45-year-old travel blogger, can.