Tag: hotels

For hospitality businesses, a reservation is much more than a booking. It represents a prepared room, a reserved table, an allocated guide or a carefully planned experience. When guests fail to arrive, businesses lose the opportunity to generate revenue from that space. Ultimately, the cost of an empty seat extends well beyond the booking itself.

Over the last eight years, travel and tourism has grown by 17.3% in the top ten fastest-growing global destinations. This rate speaks to the rapid growth of tourism and how the industry, and an increasing priority for countries seeking for new growth opportunities. In emerging markets tourism grew from 30% in 1980 to 45% in 2015 and is expected to reach 57% by 2030.