"Rising Room Rates: Hotel Industry Struggles to Keep Up with Demand As the travel industry continues to recover from the pandemic, a growing concern for travelers is the skyrocketing cost of accommodations. According to industry insiders, the main culprit behind these increasing rates is a severe shortage of hotel rooms. Despite a surge in demand, the hotel industry is struggling to keep pace with the construction of new properties, leaving consumers to foot the bill. As a result, travelers can expect to pay even more for a night's stay, making it increasingly difficult for those on a budget to plan a trip."
Hentschel said rates continue to increase because the industry can't build hotels fast enough to keep up with demand.
