It’s budget season, and labor expenses for full-service hotels on the East Coast have increased

Hotel operating budget season, which generally runs between the months of August and December, is now in full swing. As hotel operators, asset managers and owners deliberate expense ratios with their property management and operations teams, all parties involved are focused on how expenses increased between 2023 and 2024, and evaluating preliminary 2025 expenses, which won't be available until next year.