How to Increase Prices with Confidence in the Hospitality Sector

Published on January 19, 2023

As many as 34 percent of companies in the Leisure, Travel, and Tourism sector have not introduced any price adjustments and do not plan on doing so in response to rampant inflation, according to our survey. We explore how to successfully and confidently execute price increases in the face of inflationary pressure in a sector still recovering from the coronavirus pandemic.   

The leisure, travel, and tourism (LTT) industry was expecting a strong summer travel season in 2022. Early projections had pointed to global travel returning to pre-pandemic levels.

However, historic rates of inflation have thrown a wrench in the industry's hopes for a recovery from the coronavirus pandemic. Rising fuel prices, supply chain snarls, shortages in even the most basic necessities, and higher wages are driving up costs, eating into margins, and threatening the sector's long-term health. Inflation is especially…

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