News to Know

Mild Recession Would Have Limited Effect on Hotels, Economist Says
(SOURCE: COSTAR)

In years past, hoteliers have feared the prospect of a recession and what that means for hotel demand.

At this year’s Hotel Data Conference, a travel industry economist and hotel industry leaders said that even though they expect recession to arrive later this year, it will be mild and short-lived.

A revised 2023 U.S. hotel industry forecast from STR, CoStar’s hospitality analytics firm, lays out a slight decline in revenue per available room growth but strong rate projections and the expectation that occupancy growth will return next year.

Industry Spotlight

Sponsored
Data Finds Overwhelming Support for Passenger Rail in America

In a recent survey, 86% of Americans shared their support for a strong passenger rail system and 83% want their state to invest in bringing more passenger rail service to their local area. With broad support from every region in the country, at Amtrak we’re working closely with our various state and host railroad partners to meet the many demands for train travel.

GBTA WINiT Awards Nomination
Time Is Running Out to Submit Nominations for GBTA WINiT Awards

Nominations Close on August 25

The GBTA WINiT Awards celebrate individuals and companies driving positive change for the career mobility of women in travel-related industries. Nominate individuals or companies for the GBTA WINiT Awards to acknowledge their remarkable work in helping women advance in their careers. You honor their accomplishments and contributions to the workplace and our industry.

Resources

Crisis24 Intelligence Brief

France - Heatwave forecast to persist over much of France through at least Aug. 25. Transport and power disruptions possible.

Mexico and United States - TD Harold tracking west-northwestwards across northern Mexico late Aug. 22 following landfall over southern Texas, US, early Aug. 22.

Peru - Increased volcanic activity continues at Ubinas Volcano in Moquegua Region, Peru, as of Aug. 22. Ashfall dispersed to surrounding areas.

Tunisia - Taxi drivers plan to protest outside Sfax Governorate building in Sfax, Tunisia, Aug. 24. Increased security, localized disruptions likely.

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