October 6, 2022 | 1:06 pmMADRID — Hotel prices will keep increasing in 2023 in most of the key cities for business events worldwide as demand for in-person meetings after pandemic disruptions grows, though at a slower pace due to a worsening economic outlook, American Express Global Business Travel said in its annual forecast.
“While hotels can continue to benefit in 2023 from pent up demand for in-person meetings and events, the global economic outlook is unlikely to allow them to achieve rate rises on the same scale as seen in 2022”, the report added. New York should see hotel prices increase by 8.2% in 2023, driven by demand for in-person meetings and sustained by resilient leisure demand, it said.
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