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News to Know
Surveyed Hoteliers Mostly Optimistic About Demand from Business, Group Travelers
(SOURCE: COSTAR)
Demand for hotel rooms moderated in 2023 nearer to pre-pandemic levels, but hotel industry professionals expect that to grow this year, according to a survey by STR.
Hotel room demand, calculated by the number of room nights sold, has grown since the peaks of the pandemic in 2020. Leisure travelers came back much quicker than business or group travelers, but as leisure demand levels off, the other two segments continue to rebound.
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