Hotel Market Shows Continued Resilience with Focus on Luxury
Revenue Hub
APRIL 27, 2023
The hospitality sector, in particular, is sensitive to current challenges in the broader economy: rising interest rates, higher inflation and a tight labor market. Room prices are up, with the average daily rate 14% higher than in 2019 at $151 and revenue per available room (RevPAR) 8% higher at $95. hotels reached 62.8%
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