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U.S. Hotels Projected to Lose $59B in Business Travel Revenues for 2021
The hotel industry is projected to end 2021 down more than $59 billion in business travel revenue compared to 2019, according to a new report released today by the American Hotel & Lodging Association and Kalibri Labs. That follows a loss of nearly $49 billion in business travel revenue in 2020.
“While some industries have started rebounding from the pandemic, this report is a sobering reminder that hotels and hotel employees are still struggling,” said Chip Rogers, president and CEO of AHLA. “Business travel is critical to our industry’s viability, especially in the fall and winter months when leisure travel normally begins to decline.
“Continued COVID-19 concerns among travelers will only exacerbate these challenges,” he continued. “That’s why it’s time for Congress to pass the bipartisan Save Hotel Jobs Act to help hotel employees and small business owners survive this crisis.”
New York City leads the roster of business travel markets where revenues are projected to fall short. The city’s hoteliers are expected to realize $530.6 million in business travel revenues for 2021, down 88.4% from 2019.
- ◦Economy
