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American economy. Learn more about the effort here. In the year ahead, hotel workforce levels are expected to improve further but not fully recover . Hotels are projected to directly employ nearly 2.1 million people in 2023 – a 7.4% increase from 2022 but still more than 260,000 fewer employees than in 2019. Direct Hotel Employment by Year
Rate increases are expected to continue to occur. The lodging market is expected to continue its recovery in 2023, with demand expected to remain strong. However, supply constraints and labor shortages are expected to persist, which could limit the pace of growth in the industry.
23 sie 2024 · Room demand is set to reach an all-time high in 2024 according to STR research. Siteminder predicted hotel occupancy will increase 2.5% globally and Hotel average daily rate (ADR) is projected to grow by 4.9% in the next 12 months. The bleisure market continues to rise —business trips which are extended for leisure purposed.
revenues are projected to reach $168 billion, within 1% of 2019 figures and an increase of 19% compared to 2021. Occupancy is projected to hit 63.4%, nearing the 66.0% rate achieved in 2019 and far above the 44% and 57.6% reached in 2020 and 2021, respect.
10 kwi 2023 · Higher rates likely have a dampening effect on the number of trips taken, but less so than last year. Just under half (45%) of companies say they limit frequency to control costs, down from 72% in 2022. Instead, the focus has shifted to mitigating the cost per trip with cheaper lodging (59%) and lower-cost flights (56%).
The average U.S. hotel occupancy rate is 64.2% as of February 2023. (Zippia) 833 hotels opened in the US in 2020, and out of these, 29% were extended stay hotels. Extended stay inventory grew by 10.3%, and the most popular brand was Home2 Suites by Hilton. (Hotel Tech Report) There are 90,562 hotel and motel businesses in the U.S.
23 mar 2023 · U.S. lodging will benefit from a recovery in business and group travel and continued good leisure demand in 2023. We expect revenue per available room (RevPAR) will be flat to up 5% this year despite tough comparisons starting in the second quarter and increasing macroeconomic risks in the second half.
