eviivo , a leading hospitality software company known for its property management system, eviivo Suite, and mobile app, eviivo Mobile, releases its annual report 7 Significant Travel Trends Expected by 2024, based on internal data and reports from its partners, such as Booking.com. Key data reveals a major shift in guest behavior, futuristic technology and incredibly high demand for sports and music tourism.
“2024 will be nothing like years past,” says Michele Fitzpatrick, CEO of eviivo. "We have emerged from the shadow of the pandemic and those working in hospitality are more optimistic about their businesses as the sector grows rapidly. We are also seeing notable changes with guest preferences that will determine how businesses perform in the new year and, of course, a greater demand for advanced technology that will set a standard for future generations of travelers."
According to Statista, the global online travel market size reached the $433.2 billion mark in 2021, and is expected to reach $690.71 billion by 2026.
Eviivo has also published its annual report Top 5 Technology Trends in Hospitality and Reservations for 2024.
7 significant travel trends expected in 2024
1. Gen AI will become more than just a “new normal”
While biometrics, cloud technologies, advanced search engines and “contactless” continue to improve every year, 2024 will be the time for Gen AI.
As outlined in eviivo's report Top 5 Technology Trends in Hospitality and Reservations for 2024 , Generative Artificial Intelligence (Generative AI) will become a standard in travel. The hype around ChatGPT, an OpenAI tool, in 2023, opened the doors for businesses to use and thrive with Gen AI.
Although "Artificial Intelligence" has been around for decades, "Generative AI" is the evolution (and revolution) of AI; Consider it the “next generation” of artificial intelligence. Generative AI technology can take output from text, images, computer code, etc., and create unique content for the user, trained to learn data sets and patterns, and only improves by creating new data the more it is used.
With Generative AI, travelers have an “assistant” when booking trips, travel specialists have tools to make their jobs easier, and property owners, from hoteliers to vacation rental hosts, leverage Gen-AI to reduce redundant work while managing their business and reclaiming more personal time.
eviivo is the first hospitality software company to introduce Gen-AI for independent accommodations in May 2023 with the launch of eviivo Concierge , a virtual concierge for property hosts, hoteliers and vacation rental group managers, who can use the tool on their websites. In eviivo's latest case study with partner Expedia Group, UK-based Brambles of Inveraray is experiencing 8% year-on-year revenue growth and international exposure thanks to eviivo Suite and the integration of eviivo Concierge.
The rise of Gen AI will be like a rocket. In fact, Expedia.com noted in its 2024 annual report that only 6% of travelers used AI to plan a trip in 2023; 40% would use Gen AI to help find a hotel or vacation rental in 2024.
In November 2023, eviivo partner Airbnb announced the acquisition of AI company GamePlanner.AI to “develop some of the best interfaces and practical applications for AI,” according to CEO and co-founder Brian Chesky.
On December 6, Google officially unveiled its long-awaited Gemini, a powerful AI model capable of understanding, operating and seamlessly combining text, code, audio, image, video and other types of information, and which will power Google AI applications. such as the Bard chatbot and Search Generative Experience.
2. Travelers will visit Spain and settle permanently in the country
Spain, ranked as a “Best of the Best 2023” destination by TripAdvisor , dominated “Best Places to Travel” lists in 2024, from Travel + Leisure and Frommers to Condé Nast Traveler and Lonely Planet . While Mallorca is high on the charts, home to the famous resort, part of eviivo Collective , Cala Domingos , low-key destinations like Cuenca are emerging, although Malaga is on everyone's radar, not just for tourism , but to live.
Four Spanish cities are in the Top 10 of The 20 Best Liveable Cities in the World , a report prepared by Forbes in November 2023, with three cities among the top three, Malaga taking the crown: Malaga (no. 1); Alicante (no. 2); and Valencia (no. 3).
InterNations, an expat community website with over 5 million members, published its 2023 Expat City Rankings last week. Malaga was ranked the #1 place to live for expats.
“Malaga is flourishing as one of the fastest growing cities to live and work in,” says Philip Comunello, Regional Director of eviivo in Spain, at eviivo headquarters in Malaga. "Malaga is also becoming the technology capital of Spain, with the arrival of tech giants like Google and Oracle, as well as the Silicon Valley of San Francisco. It doesn't hurt that Malaga is a coastal city full of impressive beaches."
The eviivo Collective Gibralfaro Centro property , owned by Áridos El Pinar SA, which literally helped build Málaga with its company Aripisa, including the airport, bridges, port and highways, has recorded almost full occupancy throughout the year in their properties in Malaga due to people who work remotely and end up moving into their own homes.
On the coast, Barcelona ranks eighth in Resonance's annual report "The World's 10 Best Cities of 2024" ( www.worldsbestcities.com ), which includes "liveability" as a criterion with a methodology that combines basic statistics from 400 cities worldwide and user-generated ratings and reviews.
3. "Immersive sustainability" is in high demand
Sustainability is never a "trend" in travel, but rather a "must," and the travel industry has taken giant steps to play its part, from being more cardboard-neutral to offering Booking.com, a partner from eviivo, "sustainability" badges for approved accommodation. According to Booking.com's Travel Predictions 2024 trends report, more than half (53%) of the 27,000 travelers surveyed are looking for accommodations with innovative sustainability features.
Travel companies are prioritizing sustainability as demand is increasing. Hilton reported that 74% of travelers consider it important to minimize their environmental footprint, while Marriott forecasts that 77% of respondents want to visit environmentally friendly destinations.
In 2024, we will see a greater effort by properties to offer activities that give back to nature, but also allow guests to immerse themselves in their initiatives. Around the world, many oceanside properties have increased programs where guests can collaborate with local people to create marine reserves.
The 34-acre Collective Desert Harbor eviivo shelter in New Mexico was built using exclusively eco-friendly materials, including concrete pillars to minimize the building's footprint and maximize integration with the landscape. The eco-retreat is powered entirely by the sun and is off-grid (you can enjoy incredible night sky viewing) and is one of the few properties in the world that encourages dogs to be off-leash to explore the limitless public nature and take advantage of their canine ancestry.
In Edinburgh, Scotland, Rachel's Farm , owned by eviivo Collective, is known for its health, wellness and yoga retreats, as well as its luxury cottages, opening in 2024. It is Scotland's only property dedicated to reforestation and offers its guests an intensive reforestation program .
They are not just properties dedicated to a greener planet. eviivo and its partner Devitech , an innovative environmental company, are collaborating to install electric vehicle chargers in hotels, vacation rentals and other properties. Demand for electric vehicles has been high for 2023, so much so that places are "racing" to install chargers.
4. Services matter and will determine bookings
Hoteliers and owners offer unique and attractive services to stand out in a competitive environment, and in 2024 they will go further.
The recently opened 7744 Ranch , owned by eviivo Collective, is a luxury glamping resort where the six accommodations are $2 million to $3 million two-level trailers that once belonged to celebrities like Vin Diesel, Jennifer Lopez and Simon Cowell . Best of all, all trailers are equipped with the furniture and decor that celebrities once used (including beds).
Kenny Hawskworth , owner of Barnston Group, based in Liverpool, UK, leaves a number of high-end fitness bars in his Airbnbs due to his enthusiasm for good health and wellness. During the holidays, he spent hundreds of euros beautifying his property with Christmas trees and decorations.
According to HospitalityNet, in service programming, developers go further and invest in surprising concepts that capture the imagination and put the destination on the map.
5. More spontaneous trips will keep trips in suspense
Planning trips for months will soon begin to disappear as spontaneous trips become more popular, as evidenced by bookings.
“Of the 26,000 owners and hoteliers using our platform, a significant number have seen spikes in last-minute bookings, as well as guests booking weeks and months in advance,” says Fitzpatrick. "In 2024, we are confident that spontaneous bookings will become more common."
Forbes indicates that "last minute trips are in", and the travel app Hopper reveals that spontaneous trips will increase in 2024, with Spain being the most spontaneous destination. In the US, 67% of Americans say the best trips are spontaneous ones, and Italy has seen "last minute trips" grow by 400% compared to last year.
Why spontaneous trips? According to Skyscanner, it increases happiness.
6. Vacation rental reservations reach great heights and compete with large chain hotels
The growth of vacation rentals is indisputable. According to Stastisa, the global vacation rental market is expected to grow by 3.33%, which will translate into a market volume of $107.7 billion in 2027.
The pandemic contributed to the growth of the vacation rental market. While hotel bookings saw the biggest decline (77%), vacation rentals performed better, with higher occupancy in vacation rentals with two or more bedrooms (46% decline), according to Hotel Tech Report. The report also indicates that by 2025, almost one in five people will have stayed in a vacation rental, up from one in eight people in 2021.
"With vacation rentals, guests have the luxury of more space, privacy and amenities not offered in a traditional hotel, such as kitchens, laundry facilities and private backyard pools," says Fitzpatrick.
Holiday rentals are increasingly notable and competitive with hotels and resorts, such as eviivo Collective property Chalet Les Cerises in the French Alps, ranked among the best ski chalets to book in Europe by House & Garden UK.
This does not mean that traditional hospitality, such as hotels and guesthouses, is taking a backseat. In fact, bookings are also seeing significant growth post-Covid. "We're seeing travelers no longer prioritize isolation, and people like to get back to full-service hospitality," Fitzpatrick says.
7. Music and sports tourism will attract attention in 2024
Sports and music will be on many travelers' radars by 2024 thanks to the number of once-in-a-lifetime events and the rising trend in "music tour" tourism.
In 2024, the Olympic Games will be held in Paris (France) for the first time in 100 years (1924) and will mark a milestone: the centenary of their celebration. While most big chain hotels are already sold out or astronomically priced, independent accommodations are seeing some of the biggest bookings, including those within a few hours' drive of the City of Love.
The 2024 UEFA European Football Championship will return to Germany after being held here in 2020.
In the United States, Super Bowl LVII will be held for the first time in Las Vegas (Nevada), in the brand new Allegiant Stadium, coined "The largest stadium in the world." At a cost of no less than $2 billion, Allegiant Stadium is the second most expensive stadium in the world (SoFi Stadium, home of the LA Rams in Inglewood, California, cost $5.5 billion).
For the first time, the US PGA Tour will return to a calendar year season in 2024 for the first time in a decade, with 39 regular season events and eight post-playoff fall series events kicking off at The Sentry in Maui, Hawaii.
Not only sport is in the spotlight. Travel to music festivals and live concerts saw a significant increase in 2023 (thanks, Taylor Swift), and will become more common in 2024.
In fact, according to Expedia.com, "tour tourism" - live music tourism - will reach new heights after hordes of people travel by plane, train and road to attend big concert tours like Taylor Swift and Beyonce in 2023. According to the report, nearly 70% of travelers are likely to travel to a concert outside their hometown, while 40% will travel to a concert to visit a new location.
The Libertines will go on one of their first tours in early 2024 to promote their new album "All Quiet On The Eastern Esplanade." The album cover features the band's boutique hotel, The Albion Rooms , a property of eviivo Collective.
According to CNBC, travelers are splurging on trips to see their favorite artists, which can cost more than $1,330 for a trip to a Taylor Swift concert.
58% of Gen Z plan to attend a concert or festival in the next year, and 60% of travelers would consider going to a concert abroad in 2024, according to Skyscanner.
Source: eviivo