Traveling and hotels are a big part of many people’s lives. They offer a lot of advantages that you can’t get from staying with friends or family. From room service to luxurious amenities, hotels have it all.
The hotel industry is rebounding as business travelers return to the office, weddings are resuming and China’s reopening is expected to drive demand. But a wide range of factors—including globalization, digitalization, sustainability and the coronavirus pandemic—have shaped recent trends in travel and tourism.
Inflation is putting pressure on the entire travel chain, and even a modest increase in worker wages, property costs, interest payments for businesses and other general expenses adds up quickly. Ultimately, those higher costs are passed on to consumers in the form of more expensive hotel rates and other travel costs such as airfares.
If you can travel in the off-season, it will usually mean lower prices for accommodation and other travel expenses. In addition, it also means fewer crowds at tourist attractions, restaurants and day tours. It’s a great way to make the most of your vacation dollars and avoid overcrowded squares and sold-out experiences. The off-season also makes it easier to find deals on flights, rental cars and other travel essentials because many destinations raise their prices during high season to cope with increased demand. The same goes for hotels, and you may be able to score some excellent deals if you look hard enough.