July 19, 2018
Expedia says packages are better for hotels than room-only
Hotels are achieving higher average daily rates (ADR) from consumers who book packages rather than just rooms, according to data from Expedia Group.Read more
Bernard Baumohl, chief global economist for the Economic Outlook Group, warns there are several worrying signs for the fate of the overall economy and hoteliers would be wise to plan for a recession.
While the outlook shared by many hoteliers has remained relatively upbeat as the hotel industry has enjoyed a prolonged up-cycle, at least one economist warns that the good times probably won’t last much longer.
Speaking during HSMAI’s 2018 Revenue Optimization Conference, Bernard Baumohl, chief global economist for The Economic Outlook Group, said there are reasons for pessimism at the moment.
“The concern I have is we’re beginning to see the seeds of a much more significant slowdown in 2019 and 2020,” he said.
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