The era of hotel bargains is over, Hilton CEO suggests - The Points Guy
However, no level of discounting ... Hotel companies encouraged owners to keep rates generally at pre-pandemic levels so there wouldn't be another yearslong financial recovery. ... Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s ... However, no level of discounting was going to get people out and about during the first months of the pandemic when so much was unknown about the coronavirus. Hotel companies encouraged owners to keep rates generally at pre-pandemic levels so there wouldn't be another yearslong financial recovery. ... Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts"We achieve all of this without any acquisitions, and more than 90% of the deals in our current pipeline did not have any key money or other financial support," Nassetta boasted. In just the last few months, Hyatt acquired Dream Hotel Group, while Marriott revealed plans to buy Mexico-based Hoteles City Express.Discounted hotel rates in the U.S. might be a thing of the past, if you can believe the CEO of one of the world’s largest hotel companies.The company ended 2019 with an occupancy rate of a little more than 76% at its U.S. hotels. Last year, Hilton's U.S. hotels were just under 70% full. But rates averaged nearly $158 a night compared to $148.70 back in 2019, according to company filings with the U.S.