U.S. HOTELS WILL generate $46.71 billion in state and local tax revenue, more than ever before, according to a survey from the American Hotel & Lodging
Association and Oxford Economics. Occupancy is expected to continue its recovery, the report said, but challenges remain.

Average U.S. hotel occupancy is projected to reach 63.8 percent in 2023, just under 2019’s level of 65.9 percent, according to AHLA. However, the labor shortage
is expected to continue this year as hotels seek to fill jobs lost in the pandemic. As of December, national average hotel wages were at historic highs of more than
$23 an hour and hotel benefits and flexibility are better than ever. Nearly 100,000 hotel jobs are currently open across the nation, according to job search site

“Hotels are making significant strides toward recovery, supporting millions of good-paying jobs and generating billions in state and local tax revenue in communities
across the nation,” said Chip Rogers, AHLA president and CEO. “To continue growing, we need to hire more people. Fortunately, there’s never been a better time to be
a hotel employee, with wages, benefits, flexibility and upward mobility better than ever before.”