After enjoying double digit growth in room rates, luxury resorts are facing a slowdown.
After enjoying double digit growth in room rates, luxury resorts are facing a slowdown. At first glance, a drop below 1% from a year ago doesn’t seem that significant. But it comes after a massive increase from early in the pandemic to March of this year. That’s when the average daily rate for a luxury resort hotel room went from less than $200 to nearly $500.