Hoteliers Scramble to Price U.S. Tariff Risk
Summary
Recent tariff changes initiated by President Trump have created uncertainty for hotel owners, who are now assessing the potential impact on their costs. Confusion reigns due to rapid policy shifts and a lack of clear information. This situation may lead to issues for hosts as well as suppliers of furniture, fixtures and other goods.
Key Insights
- •President Trump announced a 10% global tariff, with plans to raise it to 15%.
Action Items
- ✓Consider how changing import costs for furniture and supplies may affect your expenses and profit margins.Effort: lowImpact: medium
Tools & Resources
- →Benjamin West: Benjamin West, a procurement firm, shared insights.
Common Mistakes
- ⚠A lack of information creates uncertainty for hotel operators and suppliers.
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