Hoteliers have a lot to consider this budget season. The effects of inflation and the higher interest rates tasked with taming it are being felt by guests, with STR projecting a 6 percent decline in real RevPAR for U.S. hotels compared to 2019. This and other closely related headwinds around the globe have led hoteliers to make difficult decisions regarding their budgets, and they are relying on technology to determine where to strategically reallocate resources across their portfolios in the face of a bifurcated travel market where segments catering to price-sensitive guests are facing challenges.
Compared to hospitality’s last boom and bust cycle, hotels can now use technology to determine what is and is not earning on property,…
