Despite more companies opening their borders to foreign travelers, Fitch Ratings is standing by its earlier prediction for global travel revenue per available room (RevPAR) to reach 2019 pre-pandemic levels by 2025 as vaccinations increase, safety concerns ease and business travel improves,
Fitch said it is not moving the date forward as worldwide vaccination remains low at 32%, though up from 10% at the end of June.
The company said lower price-point economy and the midscale segment outperforming upscale segments is expected to continue while international and corporate travel remain weak.
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