Recession is coming in 2023: The good news is, your competitors are in denial about it
While there was a lot of political debate over the past few months about whether two consecutive quarters of negative GDP growth — a common definition for a recession — in the first six months of 2022 constituted a recession or not, the U.S. hotel industry did not realize a recession by any measure. Hotel companies are seeing demand rise above pre-pandemic levels, and ADRs are at record highs. This is fueling unrealistic optimism for hotel revenues in 2023 and contributing to a familiar industry habit of thinking that strong current revenue performance will continue into next year.
Source: hospitalitynet.org