Hotel CEOs loving limited rooms and high prices

Many travelers complain about today’s hotel prices. For the last six months, prices in Paris are 50% and in London 30% above 2019 levels

Jun 7, 2023

Yet the consensus of the executives at the New York University International Hospitality Industry Investment Conference was that, on average, hotels have just finally caught up with where pricing should be given supply and demand constraints and inflationary effects.

Key takeaways

  • For decades, owners were asking hotel brands about wanting to see more rate growth, and the industry just caught up to where we should have been over time, according to IHG;
  • Once inflation and the reversion to ordinary booking patterns materialize, pricing will seem less distorted, executives argued;
  • Data supports the overall thesis. In the U.S., the average daily rate on a real basis is a dollar off where we were in March 2019,” said Amanda Hite, president of STR.

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