The travel industry is a massive, interconnected sector that’s closely tied to the hotel and hospitality industries. It’s centered on the movement of people from one place to another, but also on catering to those travelers once they arrive at their destinations.
In the simplest terms, hotels are lodging facilities that offer beds and often other services such as pools or fitness centers for guests to use during their stay. Most hotels are designed to cater to a specific type of traveler, such as business or leisure, and they’re often located close to popular attractions.
Hotels have many advantages over other types of lodging, such as renting an Airbnb house or apartment. For instance, hotels provide privacy by offering private rooms and suites. They may also have amenities that are not available in residential properties, such as restaurants and bars.
Moreover, hotels often have services that can save time and money for travelers, such as bundled packages that combine a hotel stay with a flight or car rental. Similarly, hotel loyalty programs can deliver substantial benefits to regular travelers, such as free room upgrades and discounted or complimentary meals.
Some hotels have even begun to offer long-stay discounts to entice extended stays. However, they haven’t been able to stem the loss of bookings resulting from the coronavirus pandemic. Innumerable corporate events have been canceled, and millions of workers face layoffs. This has caused a slowdown in travel bookings that is likely to last well into 2021.