PhoCusWright : 10 trends that will shape 2012
The evolution of technology, the fluctuating economy, as well as many other factors have played significant roles in hotel industry performance in recent years. During a webinar Thursday titled PhoCusWright's Hot Topics 2012, PhoCusWright analysts weighed in on 10 topics and trends that will shape the travel landscape this year.
Consumer sentiment
The consumer sentiment on travel went from we can't in 2009 to we shouldn't in 2010, according to Carroll Rheem, director of research at the Sherman, Connecticut-based travel industry research company. In 2011, the sentiment was we're outta here! But at the same time, the economic warning signs kept coming. Most consumers are still in the process of sorting through the details, Rheem said. I wish I could say that this is the year they will be ready to indulge, but unfortunately that's not really what they have in mind, she said. The good news is consumers are not going in the opposite direction. Consumer intentions are indicating that leisure travel will achieve small but positive gains in 2012, Rheem said.