August 31, 2018

Can you increase your hotel room rates in 2019?

Google produces 500 million results when asked ‘Is travel getting more expensive?’. Unsurprisingly, the first 10 results are solely dedicated to the price of flights.

Panicked headlines from global news organisations warn travellers about the rising costs associated with travelling by plane, thanks to increased fuel costs and the subsequent pressure on airline profits.

The hotel industry’s relationship with pricing tells a different, and at times, more complex story. It’s much more centred around the individual property – everything from its location to its TripAdvisor guest rating is a pricing consideration.

Although less dramatically reported, of course hotel room rates also go up and down. This has little to do with barrels of crude oil and more so with the fundamentals of supply and demand.

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