Hotel Leisure Travel Revenue Projected to Surpass 2019 Levels
A new analysis completed in partnership between the American Hotel & Lodging Association (AHLA) and Kalibri Labs projects hotel leisure travel revenue to be 14 percent higher by the end of this year than it was in 2019, with top cities like Orlando, Miami and Phoenix surging ahead of other cities in this recovery.
Additionally, business travel revenue within the hotel industry is expected to reach 99 percent recovery by the end of this year.
The analysis did caution that these numbers were not adjusted for current inflation and that the industry’s real recovery will still likely take a few years, despite these positive predictions.
One such example of this years-long recovery prediction is the uneven distribution of recovery across key cities. Miami’s hotel leisure travel revenue is expected to outgrow its pre-pandemic level by 33 percent, whereas San Francisco is projected to remain just under 19 percent of its 2019 revenue.
Among the fifty biggest hotel markets in the country, about 80 percent are expected to exceed their pre-pandemic revenue, though that number lowers to 40 percent in the business travel category.
“The hotel industry continues its march toward recovery, but we still have a way to go before we fully get there,” said AHLA President & CEO Chip Rogers. “That’s why AHLA remains focused on working with members, lawmakers and stakeholders in markets that are rebounding more slowly to ensure the full return of meetings, conferences, and group travel in addition to leisure and business travel. At the same time, we are continuing to grow the industry’s talent pipeline by highlighting the unprecedented career opportunities hotels are offering. Thanks to higher wages, better benefits, and more flexibility and opportunities for advancement, there has never been a better time to work at a hotel.”
According to the report, there are currently 115,000 jobs available in hotels across the nation, with many increasing wages, flexibility and benefits.