Why a 30-Year Trend in the US Lodging Industry Is Not Expected To Hold in 2023
Hotel Demand Forecast To Increase in 2023, Despite an Expected Recession
U.S. Gross Domestic Product and hotel demand are strongly correlated. Based on data from 1990 through 2019, changes in demand for hotel rooms year over year have mirrored changes in the GDP, a consistent trend over the past 30 years.
U.S. Gross Domestic Product and hotel demand are strongly correlated. Based on data from 1990 through 2019, changes in demand for hotel rooms year over year have mirrored changes in the GDP, a consistent trend over the past 30 years.
However, these two data points are expected to diverge in 2023 due to a host of reasons expected to drive continued growth and recovery in travel next year despite an expected economic recession.