When the latest State of Distribution report landed earlier this year, it did more than summarize industry trends—it offered a rare panoramic view of how hotel commercial teams are evolving in real time. Built in collaboration with RateGain, HEDNA, and the NYU SPS Jonathan M. Tisch Center of Hospitality, the 2025 edition is grounded in responses from more than 700 hotel brands across 310 cities, representing 21,000 properties worldwide.