The hospitality industry is riding a high, and is expected to perform well into the summer months, new research shows.
Bryan and Kristen Deptula, owners of an inn in Reheboth Beach, Del., are busy preparing for a big summer.
Aside from the inflow of guests staying at their Canalside Inn, the couple is experiencing higher demand for their spaces for events, like birthdays, weddings and corporate events. “That’s definitely caused us to need to hire a full-time person” to focus on these bookings, Bryan Deptula said. After two years of depressed demand, hotels are brimming with guests once again amid a boom in leisure travel.
Even business travel is showing “its first signs of recovery,” the company said, as the travelers they surveyed showed “less negative” signs about their likelihood of traveling overnight for work. “Last year was the best year ever for the short-term rental industry,” Jamie Lane, vice president of research at the company, told MarketWatch. “Demand is about 25% higher this year than it was last year.”
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