A newly released report from the American Hotel & Lodging Association and Kalibri Labs highlights the devastation the Covid-19 pandemic continues to visit on the hospitality industry.
The study predicts hotel business travel revenue will remain 23% down from 2019 in 2022 as the business travel market slowly recovers. Hotels nationwide. Large metropolitan markets such as Chicago, New York City, San Francisco, San Jose, and Washington D.C. will see a drop of 50% or more from 2019 levels.
The report indicates a full recovery will not happen until 2024.