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The future of luxury hotels: Pay more but expect less
Higher leisure travel demand during the pandemic sent hotel rates soaring across all segments of the market, and luxury chains led the pack. But with the world mostly adjusting to viewing coronavirus more as endemic — akin to treating surges more like spikes in the flu as opposed to something requiring travel restrictions — the hotel industry is settling into a new normal. That means an opportunity to pursue shifts in business strategy — some of which you’re likely already feeling when you check into a hotel. The pandemic accelerated industry trends already in place before the health crisis. Labor shortages ushered in less-frequent housekeeping during a stay. Single-use, mini…