Hilton CEO Chris Nassetta is predicting the hotel chain will have “The biggest summer we’ve ever seen in our 103-year history this summer.” Why is that?
Despite high inflation and fears of a recession, the hotel industry is not seeing any slowdown. Few industries were hit as hard by the Covid-19 pandemic as the travel industry, which curbed nearly all leisure and business travel plans. But as vaccination rates and loosened restrictions have spread across the country, travelers have returned in droves. In May, global leisure and business flights topped 2019 levels for the first time since the pandemic started.
Nassetta said that two things were keeping demand high: the leisure consumer's more than $2.5 trillion in incremental savings, and strong corporate balance sheets paired with "very good" profitability.
To read more about how the travel industry is continuing to stay on an upward trajectory, click here.
Source: https://www.aahoa.com/about-aahoa/news/broadcast/News/2022/06/29/why-marriott-hilton-and-hyatt-say-hotel-prices-are-going-up
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