Global hotel rates are expected to remain relatively stable through 2026, with geopolitical instability and uncertainty surrounding potential US tariffs limiting demand and restricting big price increases, according to The Hotel Monitor 2026, produced by American Express Global Business Travel (Amex GBT).

Despite a more moderate outlook for next year, Amex GBT’s consulting team predicts continued rises in rates for high-end accommodations, due to growing demand. The forecasting is based on analysis of company data, combined with inflation and GDP forecasts from the International Monetary Fund.

Forecast summaries include: New York up 4%, Miami up 3%, Toronto up 5.8%, Mexico City up 2%, Buenos Aires up 5.6%, London up 4.2%, Paris up 2.6%, Madrid up 4.8%, Hong Kong down 1.2%, Beijing up 1.5%, Bengaluru up 6.4%, Sydney up 1.5%, Dubai up 2% and Riyadh up 2.3%.

Amex GBT Meeting & Events finds changing attendee preferences influencing venue sourcing and meeting strategies, according to the report. These include “showstopper” venues, popular on social media, to create more memorable events. Wellness, accessibility and inclusivity are growing in importance, with more requests for specialized dietary options such as plant-based and gluten-free food, as well as cultural accommodations.

Dan Beauchamp, vice president, consulting, Amex GBT, said: “This year’s forecast reveals a nuanced global environment where geopolitical uncertainties are tempering hotel rate increases.” These insights, he said, “allow businesses to make more informed travel decisions in an increasingly complex landscape.”

Simon Fishman, vice president, global hotel, Amex GBT, added: “As the data shows, in today’s volatile world, the news cycles impact hotel prices in often unpredictable ways.” Amex GBT’s hotel marketplace, he said, “gives companies more flexibility and choice, providing access to more than two million properties across 180 countries, as well as over 45,000 hotels with pre-negotiated, business-friendly discounts and amenities via the Preferred Extras Hotel Program.”