Hospitality Industry Looks Strong for 2023 – Despite Recession Fears

Despite economic headwinds that have stoked fears of a recession in 2023, the hospitality industry continues to defy expectations and post strong numbers. Market performance of hospitality has exceeded other industries such as technology and retail, with the gap widening in the second half of the year.¹ Add the fact that revenue per available room (RevPAR) has exceeded GDP growth during the current economic cycle, and 2023 should be a good year for the hospitality sector.

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