2023 industry outlook better than pre-pandemic levels

Staffing and economic challenges will remain, but the hotel and resort industry this year is likely to top pre-pandemic performance in terms of nominal room revenue, state and local tax revenue and demand, according to the American Hotel & Lodging Association‘s State of the Hotel Industry Report. Room-night demand is projected to reach 1.3 billion occupied room nights this year, up from 1.29 billion in 2019, while nominal room revenue is predicted at $197.48 billion, up from $170.35 billion in 2019. TravelPulse