Hotel Rates Among Biggest Price Hikes in the U.S.
Photo Credit: The Blackstone Hotel, part of Marriott's Autograph Collection, in Chicago. Unsplash / Drew Harbour
Skift Take
Inflation for travel sectors like hotels isn't a cause for concern at the moment, as it continues to signal demand is returning from record-low performance seen in the early months of the pandemic.
Hotel room rate increases helped to send inflation on annual basis to its most rapid clip in nearly 40 years.
Inflation jumped 6.8 percent in November from a year ago — the fastest pace since 1982, the U.S. Labor Department reported Friday. Hotel rates were up nearly 3 percent from October and soared 25.5 percent from November 2020.
The lodging sector was among the highest risers, which also included gasoline prices that were up 58.1 percent year-on-year, and rental cars at 37 percent. The update follows a report from CWT and the Global Bus
