“Newly Opened Hotels in the Industry Anticipate a Surge of Travelers”

The hotel industry is experiencing a resurgence after several challenging years, with a record number of new and refurbished hotels opening. Major hotel groups reported a significant number of openings and rooms in 2023, and predict a similarly dynamic expansion in 2024, according to the Hospitality ON website.

For instance, Wyndham introduced five brands into new countries, signed 46 contracts representing over 8,300 rooms, and opened nearly 20 hotels. Hilton saw 132 openings in the fourth quarter and net growth of 4.9% by 2023. Marriott experienced net growth of 4.7% and a record pipeline of 573,000 rooms. Accor has major global expansion planned for 2024, and Minor Hotels plans more than 200 new hotel openings by 2026.

The U.S Travel Association reports that 93% of the population are planning exciting travels in the next six months. This surge in demand for travel is driving new opportunities in the hospitality industry, particularly in hotel openings and new accommodations worldwide.

South Bank in Turks and Caicos is one such example. This oceanfront resort and marina features four distinct waterfront neighborhoods and a range of amenities, including a calm swimming lagoon, a chic white sand beachfront, innovative drinking and dining experiences, tennis and pickleball courts, and an energizing spa and fitness center. Its grand opening is set for November 1, 2024.

Other notable openings include the Hotel AKA Back Bay in Boston, MA, which is set to relaunch in Q2 2024 with a modern new design transformation; The Mining Exchange Hotel in downtown Colorado Springs, CO, which has been completely reimagined from the historic Mining Exchange building; OMO5 Hakodate by Hoshino Resorts in Hakodate, Hokkaido, Japan, opening July 6, 2024; Asher Adams in Salt Lake City, UT, the first Autograph Collection hotel in downtown Salt Lake City, set to open in the fall of 2024; and the Marriott Vacation Club in Waikiki, Hawaii, set to open in October 2024.

Source: forbes.com

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