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However, supply constraints and labor shortages are expected to persist, which could limit the pace of growth in the industry. As a result, the market rates for lodging are likely to continue to increase, albeit at a slightly slower pace than in Q1 2023.
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.
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.
7 cze 2024 · Those shortages are pushing hotels to increase pay and benefits to compete for available labor. When looking at the United States, average hourly earnings for employees in the leisure and hospitality sector are the highest they have ever been—averaging $23.37 in 2023 and hitting $23.86 in January 2024, according to data from the Bureau of ...
16 lip 2024 · One in five travel managers (22%) say that high prices are the biggest drag on trip volume for their companies, and 40% put prices in the top two. According to travel managers, pricing’s impact on travel volume is 1.5 times as significant as that of budget cuts.
10 cze 2022 · We found that the hotel industry has an opportunity to solve its labor challenges by improving its flexibility, creating more varied entry routes for new workers, and developing clearer pathways to career advancement. Here are some of our main findings in more detail.
In an October 2022 poll from the American Hotel & Lodging Association (AHLA), 87% of respondents indicated they were experiencing a staffing shortage, 36% severely so. In a 2023 survey, 70% of hotels reported reducing or eliminating amenities and services in response to staffing shortfalls.
