--- title: Hotel Prices Are Up a Whopping 54% Right Now. Here’s Why description: A study from travel site Hopper shows that hotel prices are up a whopping 54% so far in 2023, thanks to inflation and supply chain problems. authors: - name: Sarah Hansen role: Senior Writer url: https://money.com/author/sarah-hansen/ bio: Sarah Hansen is a senior writer at Money covering all things personal finance. Previously, she covered economic policy and capital markets on the breaking news desk at Forbes. education: Northwestern University, New York University at_money_since: 2021 articles: 347 covers: - Lifestyle - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Insurance - Investing - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes social: - https://www.linkedin.com/in/sarah-m-hansen/ former_staff: true editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Lifestyle - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2023-02-03T19:18:38.000Z' modified: '2024-01-10T14:33:59.000Z' section: Lifestyle tags: - Hotels - News word_count: 382 canonical: https://money.com/hotel-prices-up-2023-travel/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Couple walking with their luggage in the hotel corridor](https://img.money.com/2023/02/News-2023-Hotel-Prices-Increase.jpg) If you thought 2022 was an [expensive year to travel](https://money.com/flight-prices-rising-faster-inflation/), get ready to spend even more in 2023. [New data](https://media.hopper.com/research/consumer-airfare-index-q1-2023) from travel site Hopper shows that U.S. [hotel](https://money.com/best-hotel-rewards-programs/) prices averaged $212 per night in January — that’s 54% higher than the same month in 2022. ## Behind the numbers Hopper’s analysis identifies two main factors that account for the sharp rise in hotel prices: - High occupancy: As the travel industry rebounds in the aftermath of the COVID-19 pandemic, millions of people are vacationing again. Hopper is expecting high demand for hotel rooms throughout the year. - Tight supply: Hopper’s report points out that right now, there are fewer hotel rooms under construction than there were before the pandemic thanks to lockdowns, supply chain snags and [rising interest rates](https://money.com/fed-interest-rate-hike-february-2023/). When demand is high and supply is low, prices tend to rise. Supply and demand imbalances aside, hotels are facing other challenges this year thanks in large part to persistently [high inflation](https://money.com/average-credit-card-debt-inflation/). - "Hotels are faced with rising energy costs to heat and cool along with the rising cost of goods and services," Hayley Berg, lead economist at Hopper, tells Money. - "Hotels recovering from pandemic lows have also needed to hire rapidly to restaff properties, and have faced challenges meeting hiring goals given shortages in hospitality," she adds, noting that higher costs and staffing challenges will continue to put pressure on prices this year. ## 2023 travel plans In a survey of its users, Hopper found that 37% of people plan to spend more on travel in 2023 compared to 2022, while 43% of people said they plan to spend the same amount. Another 19% said they plan to spend less on travel this year. ## Keep in mind Hotel prices vary widely by location and time of year, and high prices in general don’t mean there aren’t deals to be found. - A hotel room in Las Vegas — Hopper’s most booked destination this spring — costs an average of $224 per night. - On the other hand, a hotel room in Orlando — Hopper’s fourth most booked destination — costs $158 per night on average. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/hotel-prices-up-2023-travel/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Lifestyle", "item": "https://money.com/lifestyle/" }, { "@type": "ListItem", "position": 3, "name": "Hotels", "item": "https://money.com/hotels/" }, { "@type": "ListItem", "position": 4, "name": "Hotel Prices Are Up a Whopping 54% Right Now. 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