According to the Intrepid Group, youth travel is one of the fastest-growing sectors in tourism, with more young individuals seeking unique and memorable destinations and events to attend.

But the question is, how much is your hotel capitalizing on such events – from trendy festivals to music concerts – and are you doing enough to encourage attendees to stay at your hotel rather than competitors' properties?

It is important to keep tabs on events that are coming to your area to allow time for research and planning. Create an events calendar consisting of not only large-scale events and major landmark milestones but also smaller, perhaps, niche events that have the potential to bring in revenue. Once you have established a list of core events, you can begin to research the clientele these events likely will attract and adjust marketing and operations strategy, accordingly.