STR: Top hospitality industry challenges and strengths
The Hospitality Industry Sentiment survey is STR’s first longitudinal study of hotel and travel industry professionals
Labor-related issues and energy/utility costs are among the top challenges on the mind of global hotel and travel industry professionals, while leisure demand and increased guest spending are seen as the biggest strengths, according to a new survey from STR.
Key takeaways
- Professionals in North America indicated that labor supply and cost challenges were number one on their list;
- Respondents outside of North America, however, were more likely to note that energy and utility costs were a major concern for their business;
- Over a third of respondents noted ‘bleisure’ travel as a positive dynamic to their business;
- A third of respondents expect to meet or surpass 2019 hotel occupancy levels in Q1, while 46% anticipate achieving that goal by the end of the year.
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