Is the Aspirational Luxury Travel Runway Nearing Its End?

At a recent travel conference in Berlin, a few of the major hotel group CEOs on stage were talking about how the K-shaped economy was bad for the world but not hurting their business. But on the sidelines, these same CEOs were musing how much longer they could collectively keep raising nightly rates on luxury hotels.

I don't think the Amans or Four Seasons of the world are going to feel the sting, but you do have to think about that "entry-level luxury" like certain Ritz-Carltons of the world as taking a bit of a sting. What say y'all?