Real estate analytics company CoStar and global travel data firm Tourism Economics in November downgraded their 2025 outlook for room revenue growth to 1.8% from 2.6%. "We anticipate these recent trends to moderate and for overall demand growth to be slightly stronger next year,

The cuts are happening across the leisure industry, from hotels to travel bookers to resorts. Hotel operator Marriott told investors in this month that it will cut its annual pre-

US-based travel firms, like Marriott International are slashing their budgets and cutting down their workforce ahead of next year. The travel companies are trying to navigate the decreasing demand for leisure travel from lower-income customers as it impacts top-line growth.