With more than half of budget hotel rooms sitting empty, the hotel industry faces a significant downturn as inflation-weary travelers tighten their belts. Preliminary data reveals a 5% drop in occupancy rates compared to last year, signaling a stark decline in revenues per available room amid the economic challenges posed by inflationary pressures.
I discussed this a few weeks ago in an interview I did on the state of the short term rental market
If you’re buying a vacation rental property today, it better be a luxury one, because the average American can’t afford gas to drive to your basic $180 a night Airbnb t.co/Xm7HFzD5op
— Amy Nixon (@texasrunnerDFW) April 17, 2024
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