According to a recent analysis released on October 17, 2022, by the American Hotel & Lodging Association and Kalibri Labs, U.S. hotel leisure travel revenue is likely to conclude 2022 14% higher than in 2019, while hotel business travel revenue is forecast to come within 1% of 2019 levels.
The predictions are not inflation-adjusted, and true hotel revenue recovery will most certainly take several years. The post-pandemic rebound has been uneven, notably in many large cities and places where corporate travel has lagged.
Among the top 50 U.S. markets, 80% are forecast to exceed 2019 levels for hotel leisure travel revenue, while just 40% are likely to do so for business travel revenue. Many metropolitan markets rely largely on commerce generated by events and group gatherings and are currently on the mend.
The rise in earnings is creating unprecedented career chances for hotel personnel, with more than 115,000 hotel vacancies now available across the country. According to a September 2022 AHLA member poll, 81% of hotels have improved pay, 64% provide greater flexibility with hours, and 35% have enhanced extra benefits to fill vacancies.
“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 continue to grow the industry’s talent pipeline by highlighting the unprecedented career opportunities hotels offer. 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.”
The AHLA Foundation’s “A Place to Stay” multi-channel advertising campaign is now active in 14 cities, including Atlanta, Baltimore, Chicago, Dallas, Denver, Houston, Los Angeles, Miami, Nashville, New York, Orlando, Phoenix, San Diego, and Tampa, to help hotels fill open jobs and raise awareness of the hotel industry’s 200+ career pathways.
The American Hospitality and Lodging Association (AHLA) just finished a series of “Hospitality is Working” events in key cities around the country. The campaign aimed to boost business and leisure travel while emphasizing the hotel industry’s strong commitment to investing in its workforce, safeguarding workers and customers, and helping local communities.