The past three years have taken hoteliers and hotel guests for a wild ride; COVID-19 shut down many aspects of the hospitality industry for a number of months, packed savings accounts, sent a rush of travelers to the forefront in 2022, and now, macroeconomic factors such as rising interest rates and inflation have the potential to deal another rough year to hotels and tourism.

Travelers poured through hotel doors in mid and late 2022, with many hotels seeing pre-pandemic recovery levels or very close to it, but individual spending in hospitality faces many headwinds this year. Stimulus checks feel far in the past and 56% of Americans are planning to focus on saving money in 2023.

Despite these valid concerns, the industry is showing promise. Hoteliers are resilient, innovative, and adaptable, and it’s these qualities that will ensure the hospitality industry remains strong no matter what’s ahead. …