While the future holds much promise, the rising operational costs pose a significant issue. From labour costs and food prices to energy bills, hotels must find ways to manage expenses and maintain profitability without compromising on quality. Given the current state of supply chains worldwide, many of the industry’s “classic” procurement challenges have been exacerbated.
The biggest challenge has to be cost management. The persisting supply chain disruptions coupled with soaring inflation have significantly raised the cost of doing business. Prices have exploded across the board, making profitability and growth more difficult to achieve.
