In 2021, wages rose in the accommodation sector while employment numbers declined, and the gap between the two is currently larger than any other surveyed industry. According to an analysis published by Lending Tree, the average weekly wages grew the fastest relative to the employment growth within the accommodation sector, producing an 11.2% spike from the first two quarters of 2020 to the first two quarters of 2021. Additionally, the accommodation and food services sector workforce were quitting at the highest rates in history.

As a result, hotels needed to increase room prices to retain employees and stay afloat during this time. This trend is expected to stick around in 2022, with the projected U.S. average daily rate increasing from $130 to $134.

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