The hotel trade as a complete has continued in its world post-pandemic recovery, nevertheless it’s additionally skilled some overarching challenges and celebrations throughout the year. A report by the American Hotel & Lodging Association made in February estimated that hotel-generated tax income would reach a document $45 billion in 2023. A report in June by the AHLA found that 87 p.c of hoteliers have been unable to fill open positions, and still struggled with staffing shortages, main many to offer higher wages and better Hotels News advantages. Third quarter global RevPAR grew by 3% in constant currency in comparability with 2022 reflecting a 1% decline in the U.S. and growth of 16% internationally. The Company had achieved record-breaking RevPAR in the us through the preceding yr due to COVID-impacted journey patterns. The Company’s U.S. financial system brands gained market share of 100 basis points in the third quarter.
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