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Hotel room prices skyrocket amid worker shortages, declining service


the Pew Research Center
Travel Daily Media
UniqLuxe
the US Bureau of Labour Statistics
The Economist
Channel News Asia
Facebook
Hilton
CNBC
CBRE Hotels'
Beatrice


Covid
Lim Hui Ting
Wendy Chong
Ray Bennett

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Europe
Asia Pacific


the 5-star Amara Sanctuary Resort Singapore


UK
New York City
Rome
Lisbon
US
Marriott
room."Meanwhile

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Positivity     38.00%   
   Negativity   62.00%
The New York Times
SOURCE: http://www.businessinsider.com/hotel-room-prices-skyrocket-amid-worker-shortages-declining-service-2022-5
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Summary

When the Covid pandemic first hit in early 2020, more than 142 countries instituted complete or partial border closures, with 91% of the world's population restricted from travel in March 2020, according to the Pew Research Center.But now, as travel has resumed faster than expected following an accelerated vaccination roll-out in high-income countries, hotels worldwide can't keep up with the pent-up demand amidst labor shortages, causing room prices to skyrocket.The UK Buy Now Pay Later (BNPL) platform and partner travel agent Butter found that hotel room rates increased by 184% between October 2020 and October 2021, per Travel Daily Media. The reasons for reduced room capacity vary: While a few hotels used the downtime in travel to renovate, the majority cannot fully reopen due to a shortage of labor caused by hotels letting staff go to stay afloat during the height of the pandemic, Lim added.In March, the US Bureau of Labour Statistics reported that the leisure and hospitality industry faced a quit rate of 5.7%.

As said here by Katie Boon