The peak time since the pandemic
The Q3 2022 seems to have achieved the peak of performance throughout 2022. Domestic and international travel regulations have become more relaxed, businesses have started taking off, and, most importantly, offline activities have resumed. This is not only pushing room occupancy upward, but it’s also driving a moderate increase in the use of meeting rooms. The fear of global inflation and recession might create uncertainties in the hospitality industry, probably within the next year, but this year, most stakeholders in the hospitality industry will push the hotel market to perform better than last year.
Despite a more positive outlook, hoteliers should consistently focus on maintaining high occupancy because pricing adjustments will not be popular with customers. While maintaining pricing, adding more value to their services will be more effective in retaining customers.
