There are a host of elements that impact luxury hotel performance. The segment relies on a healthy mix of leisure and corporate travel—spendy families paying top-dollar room rates and the C-suite on healthy per diems.
Above all, the luxury hotel segment relies on stability, something not indulged over the past two years. It’s been a protracted pandemic to be sure, and just as the world appeared to be rounding the corner on the Delta variant, along came Omicron—a rowdy interloper arriving to a party all hoped was winding down. And though the intrusion was noisy at first, Omicron could potentially be more insipid than insidious.
