Americans are paying more to put gas in their cars, but the impact on the hotel industry and the summer leisure season is likely to be minimal. Pressure to increase domestic oil and gas production, however, could lead to greater hotel demand from workers in that industry in certain markets.
About a month ago, I stayed at the Paris Hotel in Las Vegas. When I arrived at the hotel at around 9 p.m. one weekday night, I was expecting the usual long line of people waiting to check in. And, no surprise, that's what I found. But I also found something else, something surprising.
For many, supply chain issues mean something like the grocery store is out of oat milk, so you’re stuck with soy instead. For hotels — an industry already hit hard by the COVID-19 pandemic — supply chain issues are causing even bigger problems.
Despite being half-empty, Europe’s hotels are charging more than they were before the pandemic. On average, room rates are $31 more expensive, according to auditing and booking platform Tripbam, which has compared corporate booking data from February 2021 to the same month in 2019, when the average rate was $216. This is despite volumes remaining depressed at about 50 percent down on comparable 2019 levels, for Europe, the Middle East and Africa.
The pandemic has had a profound effect on the way people travel and work. More and more people are now choosing to rent out their homes through Airbnb to fight the costs of rising inflation and make some extra money. For some, this has created the ultimate side hustle.
Travel restrictions are quickly disappearing in Europe, with new announcements coming by the week — and, more recently, by the day.
A travel boom is coming.
Expedia Group Chief Executive Officer Peter Kern believes that 2023 will be the year that we stop predicting a travel recovery and actually start enjoying it.
Americans are preparing to spend big - again - as omicron cases subside and states across the country loosen covid restrictions.
Timed to coincide with this year’s meeting at the Americas Lodging Investment Summit in Los Angeles, the American Hotel & Lodging Association issued an interesting report on the state of the hotel industry.
Financial leaders at US companies say business travel is likely to boom by the end of 2022. According to a poll from SAP Concur, more than half (52 percent) of the finance managers surveyed say it’s very or extremely likely that their industry will see a substantial increase in business travel by the end of 2022.
The U.S. hotel industry neared 50% occupancy in the latest weekly results as leisure travel began to reemerge from a post-holiday hibernation.
It’s hard to think of a more quintessential story in disruption than Airbnb — the company made CNBC’s Disruptor 50 list eight times, more than any other company in the last decade, prior to going public at the end of 2020.
The desires to deliver positive experiences for guests and maintain profits have never been more at odds in the hotel industry than they are now, and executives speaking at the 2022 Americas Lodging Investment Summit said there's a simple reason for that.
As the hotel industry gathered for the Americas Lodging Investment Summit this week, it served as a chance to dive into projections and analysis for the year to come, and a consensus has emerged on both the recovery and the stumbling blocks ahead.
Airbnb co-founder and CEO Brian Chesky told CNBC on Friday that a post-Covid pandemic future of flexible living and working arrangements will be a boon to the company.
Pricing power in leisure travel destinations and airport markets continue to keep the U.S. hotel industry recovery on track despite hotels being less than half occupied on average.
Recovery is finally underway for the UK hospitality sector. Despite some bumps along the way, 2021 saw some of the best performance metrics ever, with room prices reaching levels never previously achieved in some markets.
Luxury hoteliers took full advantage of pent-up room demand from high-end travelers and exerted pricing power in resort destinations around the globe, according to occupancy and average daily rate analysis by STR, CoStar's hospitality analytics firm.
Travel bookings and inquiries are surging, say travel insiders, in an upward trajectory that, if realized, may both benefit and challenge travelers in the coming year.