Hotels Expect a Leisure Travel-Driven Summer Recovery
Skift Take
While all signs indicate that the hotel industry will continue to make progress in its recovery this summer, the rebound may not be as large as expected as high gas prices could deter some travel.
Daily Lodging Report
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Sunday, April 3The CBRE Hotels Research State of the Union showcased a pictorial review of current hotel trends, leading and coincident indicators of hotel demand and an update on cost pressures and margin flow-through. According to the report, 2022 and 2023 GDP estimates have been negatively revised from 3.5% to 2.4% and 2.1% to 1.9% respectively. Spring break travel positively impacted March performance data compared to January and February which are less leisure-oriented. CBRE is optimistic about the upcoming leisure-driven summer months. Chain scale performance showed improvement in the upper-priced segments, and CBRE is seeing some softening in the performance of lower-priced hotels. Market volatility is climbing due to high inflation rates as well as uncertainty brought on by
