Hotels & the Hospitality Industry Need Innovative Tech Strategies to Grow in 2024

 

The hospitality industry is on the brink of transformation as it faces 2024 and technology is going to be a major factor in that change. Last year’s challenges, including the muted growth in the U.S. hotel market, have paved the way for innovative strategies to enhance hotel performance. Where did 2023 leave the hospitality industry, and more specific the U.S. hotel market, and what’s in store for 2024?

Even with significant dips in domestic travel and a rise in group room nights, the global hotel industry showed steady performance with a 63 percent occupancy rate in 2023, according to Hospitality Net. The hotel transaction market, however, still experienced lows due to high federal funds rates and banking sector instability. Globally though, different regions saw substantial growth and improvement even with economic challenges playing a role in the performance of these markets. The outlook for 2024 is mixed.

This mixed reception is also echoed by experts in the hospitality industry. Per a Hospitality Industry Sentiment (HIS) survey, conducted by STR, over 51 percent of industry experts demonstrated their confidence in high long-term business confidence was at an eight or above. Most also responded to growth in room rates. However, their confidence varied when it came to concerns about a potential recession and other costs the hospitality industry faces. Experts in the industry are saying the answer to solving these issues, or at least insulating against major macro factors, is technology and how it impacts the guest experience.

On this episode of “Experts Talk,” industry experts Stephanie Leger, Chief Excellence Officer at First Rate Hospitality, AJ Krow, Former Travel Advisor at Peak Luxury Travel, and Glenn Haussman, Host of the “No Vacancy” podcast, sat down with host Gabrielle Bejarano to explore strategies for hotels to balance cost, technology, and customer service to stay competitive.

They particularly stressed how staying current to what guests are seeking is key to hotel growth, as the rise of digital nomads and the blend of business and leisure travel (‘bleisure’) are reshaping guest expectations. Hotels that adapt to these trends, investing in both their workforce and technology, are likely to thrive, further highlighting the significant role of training and employee engagement in creating a sustainable hospitality model.

However, the industry’s relationship with technology remains complex. While investment in digital solutions are crucial, making those investments tactical and focused remains a top priority. The success of the hotel industry in 2024 will hinge on its ability to integrate these elements with both caution and vigor.

Article written by Alexandra Simon.

Follow us on social media for the latest updates in B2B!

Image

Latest

AI Infrastructure
Execution at Scale: The Real Challenge of Building AI Infrastructure
July 17, 2025

AI infrastructure is evolving at breakneck speed, and the real challenge is no longer just designing next-generation data centers—it’s executing them at scale. As demand for AI-ready facilities grows, operators must adapt to immense increases in power density, new cooling technologies, and unconventional deployment locations. According to the Uptime Institute, power densities in AI-focused data…

Read More
workplace visibility
Workplace Visibility Builds Careers and Communities Through Trust, Recognition, and Shared Growth
July 17, 2025

What if the most powerful way to grow your career isn’t by perfecting your pitch, but by telling your story? In this episode of Professional Quotient: Conversations that Build Equity, host Jason Winningham welcomes Hunter Lopatin, the Director of MarketScale, to explore the real value of visibility and voice in the workplace. The discussion…

Read More
Marketplace Inclusion
How TEKsystems Uses Marketplace Inclusion to Drive Equitable AI Adoption
July 16, 2025

As organizations race to integrate AI into every corner of business, an equally urgent conversation is emerging: How do we ensure this adoption doesn’t widen existing equity gaps? AI is both a disruptive force and an opportunity engine, as recent data shows that AI adoption among HR professionals jumped to 72 percent in 2025, up…

Read More
storytelling
The Secret to Brand Loyalty: Why Storytelling Is the Best Way to Be Heard in a Crowded Market
July 16, 2025

In today’s fast-evolving digital marketplace, attention is scarce, and trust even more so. In an era of remote work, AI-driven marketing, and constant digital noise, storytelling has emerged as one of the most powerful tools to cut through the clutter. In fact, research shows that people who used storytelling techniques to remember information recalled seven…

Read More