FAQs - Ask the Experts in Hospitality
What are the biggest challenges faced in managing a hospitality property, hotel or resort?
Operational costs such as labor, utility and insurance rates are big challenges facing the hospitality industry. Labor costs pose a significant challenge for the hospitality sector, which relies heavily on staff to deliver guest services. Elevated labor expenses can hinder profitability and hinder a hotel's competitive edge. STR's Hospitality Industry Sentiment survey highlights labor-related concerns along with energy/utility costs.