Hotels are touting holiday discounts as they brace for a recession that could slow their pandemic recovery in the new year, according to industry insiders.
A recession would jack up rates and revenues per available room at top-dollar resorts, according to CoStar Group, the parent company of leading hotel market researcher STR. At the same time, CoStar forecasts business travel, roadside stays and vacation demand would take hits as corporations limit employees to essential trips and working Americans trim leisure expenses.
“The recession will not hit all American travelers the same,” Jan Freitang, CoStar’s national director of hospitality analytics, told The Washington Times.