What to Expect in the Hospitality Industry in 2023
Mark D. Podgainy | January 30, 2023
By Mark D. Podgainy Last year was a year of dramatic recovery for the hospitality industry. What’s ahead for 2023? Definitely clouds, but the question is whether the clouds will pass over or they will result in a storm. What’s Ahead High labor costs will persist. While many workers have come back to the hospitality industry after leaving during the Covid-19 pandemic, the industry is still short of employees. This supply-demand imbalance will continue to keep labor costs high and impact margins. As the economy slows the supply of employees will grow (layoff announcements in the news have been increasing), but it is unkno...
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