Hotel recovery delayed by sluggish business travel

A downturn in business travel is expected to hurt hotels this year, as hotel revenue from the segment is projected to total $20.7 billion less in 2022 than in 2019, according to a Hotel & Lodging Association and Kalibri Labs report. In New York City alone, hotel revenue from business travel is expected to total just $2 billion in 2022, down from $4.5 billion in 2019.