After COVID-19 severely disrupted the travel industry, the future of hospitality was uncertain. Business travel stalled, leisure trips were paused, and many questioned whether hotels could recover. However, since the general recovery from the pandemic, the traveling consumer’s mindset has changed, and with it, the hotel industry has recuperated and is positioned to outperform.
Travelers are now placing more emphasis on quality, wellness and comfort, and hotels are increasingly offering their guests an experience, not just a place to sleep. However, some markets are reaping the benefits more than others.
While the hospitality industry has largely regenerated, this comeback is not universal. Luxury locations have bounced back while budget hotels are still struggling to keep up. Due to a preference for quality and comfort, revenue per available room (RevPAR) has exceeded pre-pandemic levels, though occupancy rates have yet to reach them. Luxury accom
