Controlling Costs
Rising operating costs are among hoteliers’ chief concerns. While these costs encompass many areas—ranging from insurance costs to technology investments—most owner/operators acknowledge the biggest of these remains rising employee wages and its impact on profitability. According to a recent State of the Hotel Industry report from the AHLA, hotels are projected to pay employees a record of more than $123 billion in wages, salaries, and other compensation in 2024, up from $118 billion in 2023 […]
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