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U.S. HOSPITALITY SECTOR has consistently maintained the highest quit rates by workers among all industries, consistently exceeding 4.5 percent since July 2021, according to the U.S. Chamber of Commerce. However, the leisure and hospitality sector maintained the highest hiring rate among all industries, fluctuating between 6 percent and nearly 19 percent. These industries saw a loss of 837 thousand workers in September, yet 1.1 million individuals were hired into the industry during the same month. This hiring rate exceeds the national average, which was 3.7 percent in September 2023, the U.S. Chamber of Commerce said in its latest report titled Understanding America's Labor Shortage: The Most Impacted Industries. The latest jobs report from the Bureau of Labor Statistics reveals a positive influx of individuals into the workforce.

NEARLY 500,000 HOTEL operations jobs lost during the pandemic will not returning to the industry before the end of the year, according to a report from the American Hotel & Lodging Association. In response, AHLA has launched the "Hotels are Hiring" ad campaign with the goal of filling more than 100,000 jobs in the industry. A surge in leisure travel has led to improved conditions for most U.S. hotels, but AHLA's economic analysis found the recovery is far from bringing the industry back to pre-pandemic levels. Urban markets in particular are lagging. Hotel occupancy is projected to drop 10 percentage points from 2019 levels, the report said, and room revenue is expected to drop $44 billion this year compared to 2019. State and local governments have lost more than $20 billion in unrealized tax revenues from hotels over the past two years. AHLA and AAHOA held the Virtual Action Summit on July 20 to 22 in which hoteliers from across the country met with members of Congress to ask for help.

HOSPITAITY FIRM OYO Rooms has filed fresh documents with India's stock market regulator, Securities and Exchange Board of India, for an Initial Public Offering in early next year, media reports said. The company filed fresh financial documents on Sept. 19 and is now targeting an IPO in January 2023, according to CoStar. OYO filed preliminary IPO documents in 2021, only to shelve the listing plan earlier this year after the prolonged pandemic hurt its growth and forced the company to cut thousands of jobs. The latest financial documents showed narrower losses and a rebound in sales for the year through March 2022 and in the three months to June 2022.