Luxury hotel demand grows
🏡 North American travelers flock to European luxury destinations post-pandemic; luxury in hospitality now complex and varied. Robert Mangan of Bain Capital notes trend affects all hotel tiers. "Lean luxury" exemplified by Ruby Hotels in London with 20 European locations, merges high-end amenities with efficiency. European luxury hotels see a 5.2% increase in average daily rate to $489.09, while the Middle East and Africa average $313.56, as of October 2024. - Source: HNN.
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