Source: Hotel Management
By Alicia Hoisington
July 30, 2019
Hotel prices in many key cities are expected to see modest increases in 2020, according to American Express Global Business Travel’s “Hotel Monitor 2020.” However, a boom in hotel construction continues to increase guestroom supply as international trade tensions put a damper on demand, according to the research.
In the United States, flat occupancy and a full pipeline of rooms under construction will drive competition and limit the ability of hotels to raise prices, researchers noted. Following are forecasts for seven key cities, according to the report.