The global hospitality industry stands at a pivotal moment of transformation. Rapidly evolving guest expectations, new operating models, the accelerating pace of technological change, and heightened competition are reshaping the way hotels operate and engage with their diverse stakeholders. Owners, brands, and managers increasingly recognize the need for forward-thinking strategies that deliver memorable guest experiences, drive bottom-line results, and strengthen long-term competitiveness. The Hotel Yearbook Annual Edition 2025 explores the key areas where the industry is innovating, highlighting success stories, best practices, and emerging trends that offer a path forward. By presenting insights from leading experts, we aim to provide hoteliers and stakeholders with a holistic understanding of the forces shaping hospitality today—and actionable ideas for thriving in the year ahead.