Hotel Management has released its outlook on the hospitality trend report for 2016, and the predictions look healthy for the industry. Global hotel industry revenue is expected to reach $550 billion in 2016, up from $457 in 2011. Additionally, increased year-on-year occupancy rates in all global regions in 2014 indicate further increased demand moving into the new year. The report also states that business travelers in the United States will see the largest rate increase in a decade in 2016, with rates forecast to rise from 6.5 percent to 7.5 percent.
For infographics of these findings and more, click here.