Hyatt Resort: Strategic Objectives and Importance to the Hotel Market
The hotel and resort industry continues to evolve amid ongoing changes in consumer preferences and market conditions. Recent Focus hotels vs OTAs showed that the importance of direct bookings has increased significantly. Hyatt, one of the leading hotel chains, has been steadily developing its own resorts in an attempt to compete with online travel agents such as Booking.com and Expedia.
Hyatt resorts offer a variety of amenities such as spas, restaurants, and active entertainment that attract guests around the world. With the growing number of tourists, Hyatt plans to expand its portfolio by introducing new locations in regions with high tourist flow.
Despegar and its acquisition
Major players in the online booking industry continue to acquire companies, as evidenced by the increasing pace of mergers and acquisitions. In 2023, Despegar, a leading online travel agent in Latin America, announced the acquisition of several smaller travel platforms. This will allow Despegar to strengthen its position in the market and offer additional services, including access to exclusive offers from hotels.
It should be noted that such an acquisition also improves competitiveness in the context of hotels vs OTAs. Using new technologies to optimize the booking process and customer interaction increases trust in online services.
Hotels vs. OTAs: Challenges and Prospects
The confrontation between hotels and online travel agents remains one of the key topics in the industry. Although OTAs offer a wide range of rooms and flexible booking conditions, many hotels are starting to optimize their own systems to attract customers. According to statistics, more than 60% guests prefer to book directly through the hotel’s website.
- Direct bookings provide hotels with greater profits.
- Hotels have the ability to regulate prices and offer special promotions.
- Branding and customer loyalty play a critical role in hotels' efforts to reduce their reliance on OTAs.
The use of modern technologies such as AI and machine learning will allow hotels to interact with customers more effectively. For example, hotels can analyze data on previous bookings to offer personalized offers.
Market and trends
The hotel business market is showing steady growth in 2023. According to reports, the global hotel services market size is estimated at over USD 600 billion. Moreover, this figure is expected to grow by 10% per year by 2025.
Data shows that users are increasingly turning to mobile apps for booking formats, creating new opportunities for hotels and OTAs to compete for customers' attention. In a world where Hotels vs OTAs are becoming an increasingly pressing issue as hotels try to maintain their competitiveness.
Discussion and analysis of such topics will continue to contribute to the development of convenient and transparent technologies for travelers. For more information on market developments, visit Hotel News Now and Phocuswright.
