The cost of hotel and motel accommodations in the U.S. surged 7.9 percent in June from a month earlier, the second-largest gain on record, according to the Labor Department.
Higher rents are the kind of price increase that’s hard to reverse -– unlike many of the ones that have accompanied the economy’s reopening, from lumber to used cars.
A largely successful vaccination drive and work-from-home fatigue have changed expectations on corporations' "return-to-office" timeframes and strategies.
