Hotel Prices Decline As Travel Demand Cools After Summer Surge - CNBC

Excerpt from CNBC

• The price index for hotels and other lodging away from home fell nearly 5% in November from October, according to the latest consumer inflation report.
• The cooldown follows a surge in summer travel demand.
• JetBlue lowered its outlook to adjust for demand that did not reach its expectations.

The latest government inflation report shows that consumer prices for hotels, motels and other lodging dropped in November from October.

Airfares decreased month to month. The price index for hotels, motels and lodging was 3% higher than it was a year ago.

The travel industry enjoyed major tailwinds in a year where Covid caused a lot of problems. Pandemic shoppers turned into post-pandemic travelers as demand for pent-up travel increased.

With a possible recession on the horizon, the price declines for travel in November could be a sign of a decline in demand.

Click here to read the whole article