Read the following news article about Hyatt Hotels: https://www.chicagotribune.com/business/ct-xpm-2014-02-14-chi-hyatt-earnings-20140214-story.html

1. What does this imply about the price elasticity of Hyatt hotel rooms? (The article is from 2014, but its a good example of elasticity at work)

2. How do you think hotel rooms(and the travel industry) in general will recover from the pandemic? Do you think it will be a quick recovery or a slow drawn out recovery? Which will recover quicker - leisure or business travel? Briefly comment.

Answer rating: 100% (QA)

Based on the information provided in the article Hyatt Hotels experienced a decrease in revenue per ... View the full answer