| | MAY 20234While the threat of virus attacks in the future prevails, the feeling of `stay home & stay safe' continues to give way to more active traveling and socializing. The sense of newfound freedom feels like a second opportunity for many across the globe, encouraging them to step out and get the best of what they couldn't enjoy during the global pandemic. While this passion for socializing promises enormous opportunities for the hospitality industry, it also presents an equal amount of challenges, including new consumer expectations where guests seek convenience and sophistication from their favorite brands. According to Technavio Research, the global hospitality real estate market size is estimated to grow at a CAGR of 10.25 percent from 2022 to 2027. Well, that's not all; the Smart Hospitality market, driven by the need to create unique hospitality experiences, is predicted to grow from $13.6 billion in 2022 to $49.9 billion by 2027 (report by ResearchAndMarkets.com) at a whopping CAGR of 29.8 percent. It's quite lucid that travelers worldwide are looking for well-being-oriented and immersive experiences. This drives a massive surge in leisure travel within the domestic market and the inbound international travel landscape. Even corporate travel and MICE are being extended to incorporate elements of leisure experiences. Lend your ears to Sunjae Sharma, Managing Director, India & Southwest Asia, Hyatt India Consultancy Pvt. Ltd. He elucidates, "The human desire to reconnect with loved ones and experience the joy of traveling together to newer destinations has never been so intense. This is reflected in the growing demand for staycations, workcations, and weekend getaways." It's a great time to be in the hospitality industry.Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comThe Hospitality Industry is Rebooting EditorialVol 04 · Issue 5 - 1 · MAY, 2023 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Senior Designer Girisha M Asokan S. V. Vayshnavi P. D.NoidaRohit Raghubanshi Garima Anandadvertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comAdvertising ManagersSaurav SaraswatTo subscribeVisit https://www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comMagazine Price is Rs. 150 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of Info Connect Web Technolo-gies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2023 Info Connect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.VP - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Heena Kousar Keerthana Kantharaj Roopalatha H Hima P. M.
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