The Impact of Wage Increases and a Tightening Labor Market on the Hotel Industry
The unemployment rate in the U.S. dipped down to 3.7% in 2018—the lowest it’s been since the 1970s. And, just last month, the US Bureau of Labor Statistics ...
Last week, HotStats released its hotel profitability snapshot for the USA for January. The story is grim. RevPAR is growing more slowly (up 0.8% year-over-year) but Labor expenses are up by more than 4X that amount (up 3.4% vs January 2018). ...
Hotel labor costs are rising quickly. In the USA, a shrinking, competitive labor pool is driving wage rates, overtime and contractor usage to unprecedented heights, and the increases are projected to continue for the next 2-3 years. ...
Over the past few months, the campaign to drive up entry level wages has gained a huge amount of momentum – a momentum which will begin trickling down to the hotel industry over the next few months. Hoteliers need to prepare themselves for higher...
