Tag: Inflation

Inflation’s Challenge on Hospitality Properties

Hospitality Properties

The hospitality industry is still finding its share of highs and lows even as life has begun returning to normal.  Thankfully, traveling is back which is bringing business back to hotels, bed and breakfasts, rental properties, restaurants, etc.  This has led to an increase in guest reservations and bookings for many properties.  But there are various obstacles the industry needs to confront like global affairs, effects of the pandemic, staffing issues, and supply chain issues.  A lot of these problems come down to the basic principles of supply and demand and inflation.

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3 Significant Effects on the Hospitality Economy

The effects of the pandemic are still having a major impact on the world as it is now almost two years old.  Luckily, travel has started to pick up as people have started to move forward with their lives again. Many properties should expect to see bookings improve this year compared to the past two years.  However, they will still be confronted with issues pertaining to the economy for the coming busy season.  This is an issue that pertains to companies in many industries, so hospitality isn’t just an exception.  Inflation will continue to be rampant, supply chains will have issues, and labor shortages may persist throughout 2022.

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