{"id":314117,"date":"2023-11-07T09:25:06","date_gmt":"2023-11-07T14:25:06","guid":{"rendered":"https:\/\/lgcassociates.com\/?p=314117"},"modified":"2024-02-26T12:11:59","modified_gmt":"2024-02-26T17:11:59","slug":"one-hospitality-trend-for-2024","status":"publish","type":"post","link":"https:\/\/lgcassociates.com\/es\/one-hospitality-trend-for-2024\/","title":{"rendered":"The One Hospitality Trend You Need to Know for 2024 | Hospitality in the News"},"content":{"rendered":"

Our Hospitality in the News series takes all the relevant information you need to know about the hospitality industry and puts it in one place \u2013 so you never miss out on important news ever again. This week\u2019s Hospitality in the News topic: the one hospitality trend you need to know for 2024. <\/span><\/p>\n

With another year coming to an end, it\u2019s time to start thinking about what to expect in the hospitality industry in 2024. By getting ahead of expected trends, you’ll have more foresight into the new year, allowing you to better plan your initiatives, goals, and other success metrics.<\/span>\u00a0<\/span><\/p>\n

Typically when we put together our trends list for the upcoming year, there are several important trends to highlight. But for 2024, we believe that will be one main factor that will affect just about every area of your business.<\/span>\u00a0<\/span><\/p>\n

The One Hospitality Trend You Need to Know for 2024<\/span><\/b>\u00a0<\/span><\/h5>\n

With the emergence of the pandemic, hotels and restaurants were faced with mandates that forced them to shut their doors. Once they were permitted to reopen, a new problem emerged: a nationwide shortage of hourly workers that had the largest impact on the hospitality industry.<\/span>\u00a0<\/span><\/p>\n

Anyone who has worked in hospitality the last couple of years has heard about and understands the impact of the labor shortage. But recent updates have emerged that will change how you look at 2024.\u00a0<\/span>\u00a0<\/span><\/p>\n

The National Restaurant Association <\/span>reports<\/span><\/a> that the leisure and hospitality sector has exceeded its number of jobs for the first time since COVID-19 hit the U.S. in early 2020; with 12.37 jobs in September 2023 versus 12.34 million in February 2020. Though this change is miniscule, it paints a bigger picture. But what does that picture show?\u00a0<\/span>\u00a0<\/span><\/p>\n

Before we dive into the implications of hospitality jobs returning to pre-pandemic numbers, there\u2019s an important caveat that comes with this update; The accommodation sector \u2013 which includes lodging and hotels \u2013 still sits below February 2020 levels by 10.3%.<\/span>\u00a0<\/span><\/p>\n

This information begs the question, why have restaurants rebounded but hotels haven\u2019t? And what does this mean for hiring and staffing in 2024? Let\u2019s get into it.\u00a0<\/span>\u00a0<\/span><\/p>\n

Restaurants: Filled and Open Jobs<\/span><\/b>\u00a0<\/span><\/h5>\n

Even though the increase in restaurant jobs was under 0.3%, it stands to show that the needle is moving in the desired direction. September\u2019s job growth was the 33<\/span>rd<\/span> consecutive month of growth in that sector. Reaching pre-pandemic levels is a huge accomplishment and has been a goal for the industry since March 2020.\u00a0<\/span>\u00a0<\/span><\/p>\n

But, yet another caveat: there are still an average of 1.2 million job openings in the hospitality industry each month. It\u2019s important to note that pre-pandemic, the number of job openings hovered around 875,000 per month (via the Bureau of Labor Statistics).<\/span>\u00a0<\/span><\/p>\n

When restaurants reopened during the pandemic, one of the key issues with labor was finding workers who were willing to either return to or outright join the restaurant industry. As a job that involves direct interaction with customers, many were hesitant to return. Not only that, but some restaurant employees were reporting that mistreatment from guests had gone up since the pandemic.\u00a0<\/span>\u00a0<\/span><\/p>\n

Now that we understand the recent trends in restaurant jobs, we can conclude the following:<\/span>\u00a0<\/span><\/p>\n