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Hotel rates are rising as travel demand spikes

In case you’re considering booking that hotel getaway you’ve put off since the pandemic started, you will need to reserve a room right away. Nightly rates, whereas still somewhat lower than a year back, are gradually rising to match or surpass pre-pandemic costs in a few well-known destinations.

Over the last 30 to 45 days, normal hotel costs have risen appreciably and are now just 5% lower than one year ago. They were as much as 11% cheaper a couple of weeks earlier.

The week of April 11, U.S. hotel demand was up 13.7%, the second-highest level this year. It had topped in March for spring break travel. There is a relationship between vaccination deployment rates and interest in travel.

Accommodations in high-demand regions are presently above pre-Covid levels, near beaches, and national parks, for example. Although major metro areas like New York and Chicago are still seeing depressed rates thanks to a slower recovery.

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