Lodging Conference 2024 Recap
The Lodging Conference in Phoenix that took place October 7-10th is one of the leading hotel investment conferences, growing in 2024 to over 2,900 attendees. It brings together hotel brands, owners, lenders, and experts on development, management, operations, construction, interior design, and procurement.
If you’re planning a hotel project, you want your design and procurement consultants to have their fingers on the pulse of the industry. With that in mind, Innvision was at the Lodging Conference, where our team enjoyed a relaxed atmosphere to connect with other industry leaders and professionals. In this post, we’ll summarize the event and share what we learned.
Notes from The 2024 Lodging Conference
Revenue, Supply, & Demand
Although leisure travel has seen a nice rebound, group and corporate demand, while still gaining ground, are still well below 2019 levels. But more companies are implementing Return to Office policies, which should help boost business travel.
Average daily rate, more than occupancy, has been leading the recovery in RevPAR. But revenue has continued to climb in 2024 and is expected to grow slightly faster than the rate of inflation in 2025.
In 2025, we may also see more empty office buildings transition into hotels. Depending on the situation and feasibility of the conversion, it can be cheaper and faster to buy than build.
Guest Expectations & Habits
Panelists discussed how guests gravitate towards newer hotels or newly renovated hotels and use social media to post pictures and reviews of properties. Gen Z, a growing percentage of travelers, is a heavy user of online reviews and social media to research hotels, so hoteliers should keep this in mind especially when marketing to this demographic.
More of today’s guests expect Smart TVs, balconies and/or a view, healthy living and wellness options, and complimentary breakfast. They also seek versatile public spaces that accommodate meetings, calls, and intimate conversations.
Overall, guests are driving the demand for a more luxurious stay, blurring the line between luxury, lifestyle, and other brands. Here are some examples of “luxury” offerings at hotels:
- Local art and vibe
- High level of service and energy
- Quality design and finish details
- Upgraded programming, including classes
- Local top-rated restaurants and chefs
- Elevated wellness/fitness as a destination
- Above and beyond just a spa experience, with a focus on mind + body + spirit wellness
- Sleep science and other “biohacks” to help rejuvenate
- Plunge pools and saunas at fitness
Sustainability, Repurposing, & Innovation Efforts
Sustainability is taking on a larger role, with brands moving to reduce hotels’ carbon footprints. Marriott is the global leader in LEED certified projects, with 300 properties.
Panelists called out the need for design solutions that are less impactful on landfills and ways to make future renovations easier, cheaper, and more environmentally friendly. Other opportunities include reusing existing property elements and incorporating them into a hotel’s story.
Some designers and hoteliers are getting innovative by seeking to immerse guests more in nature through biophilic elements. This requires a commitment from the hotel owner/operator that they will maintain them, but green walls can be a good solution to accomplish the goal.
Other innovators are setting up non-standard meeting rooms with added sofas, lounge chairs, and bean bag seating instead of standard conference tables and chairs.
Innvision attends The Lodging Conference to network with and learn from leaders in the hotel industry to enhance the interior design and procurement work we do for our clients. 2025 is expected to be a big transaction year with more deals and more property improvement plans, if not also more new development.
Contact us to learn how we can use our industry knowledge, expertise, and experience to support you in your upcoming projects.
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