Hit hard by the COVID-19 pandemic, the hotel industry has bounced back alongside the larger travel industry thanks to pent up demand, delayed trips and increased consumer savings.
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"I think as long as we're delivering on service, which can be challenged in markets where labor is difficult, we continue to see really remarkable pricing," Capuano said on"Closing Bell" on Monday. He did note that while there was"exceedingly strong rate potential" in places like leisure destinations and coastal destinations, that the"middle of the country, some of the urban markets have not come back as quickly.
Executives in the travel industry had argued that the restriction had been hurting international travel demand."Requiring pre-departure testing creates uncertainty for travelers, one more hurdle that may lead them to choose a destination with less friction," Capuano said in a statement to CNBC's Seema Mody.
But even without travelers that may have put their trips on hold given the requirement, demand remains high."Pretty much across the board, all the business segments and leisure are all firing on all cylinders," Hoplamazian said.which owns brands like the InterContinental and Holiday Inn, said that he expects demand to continue to grow for the rest of the year as travel is more normalized post-pandemic.
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