Michael Bellisario, a senior research analyst at financial services company Baird, joined Cheddar News to discuss the state of the hospitality industry. Despite persistent labor shortages, demand for hotel rooms is expected to reach 63.4 percent, with revenue projected to reach $168 billion. "We like to say there's just a lot more supply of travel options that you and I have, for example," he said. "We're in the office. We're traveling for work more, and now importantly you can also go to Europe. And you can go to Europe on sale, to go on a cruise if you want to go to the Caribbean."