- About PS&F
- Industry Focus
- Client Tools
- Education & Events
December 19, 2022
The fifty most valuable hospitality brands lost almost a third of their value in 2021 due to the ongoing impact of COVID-19, but in 2022 financials are trending back toward their to a pre-pandemic pace.
While travelers used this time as an excuse to try something smaller, boosting outdoor rentals and other adventures, hospitality companies used this downtime to make improvements.¹ These improvements were not only to their properties but to their operating systems, customer service and overall experience.¹
The casino industry has historically existed in a constant state of evolution, especially in the last 5 years. Today, these evolutions are concentrated in the area of technology. Industry experts predict that 2023 will be a transformative year for the gambling and casino industry, due to the expansion of mobile gaming, the implementation of payment solutions and the advancement of streaming technologies.²
The popularity of online gambling sites has caused a significant decrease in sports-book and other related revenue for physical casinos, as they have been unable to keep up with the growth of their online counterparts.² This has resulted in a decrease in attendance over the past year, as people are less likely to make the effort to visit a physical casino.² Successful land-based casino venues over the past few years have given equal attention to their live shows and other forms of entertainment as they have to their gaming portfolio.² To learn more about these and other factors impacting the industry, please read our latest opens in a new windowMarkets in Focus :: Hotels and Casinos report.
The views and opinions expressed within are those of the author(s) and do not necessarily reflect the official policy or position of Parker, Smith & Feek. While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it.