predicts that hotel rates will rise across the board in 2023. That should surprise nobody, given high inflation rates around the world and the continued pent-up demand for travel in this third year of the Covid-19 pandemic.
Think inflation is bad in the United States? “Analysts polled in August 2022 by the Central Bank of Argentina expect the country’s inflation to reach 90.2% in 2022, up 16.2 percentage points from July forecast,” according to the report. Given that context, a 30% jump in hotel rates does not seem so far-fetched.The City of Light’s tourism bureau estimates that 33 million people will visit Paris in 2023 — 14% down from 2019 visitor levels.
Stockholm’s hotel industry is particularly reliant on business travel, and Amex GBT has seen an upswing in demand for meetings and events, but capacity has been limited. “Travelers are having to book higher category rooms or double rooms to get into their preferred hotels,” notes the report.2022 has been a good year for Dublin hotels, which have achieved some of the highest occupancy rates in Europe — sometimes exceeding 90%.
Seattle hotel rates have been rising for years, but that has not dampened demand. The average room occupancy reached 71.9% in Q2 2022, only a couple of percentage points below the city’s pre-pandemic norm. The arrival of new hotel inventory this year and in 2023 should help moderate price rises.In 2022, visits to Amsterdam quadrupled in the first five months of the year compared to the same period last year. In addition, RevPAR was almost back to 2019 levels in May and June.
Airbnb right now
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