Leisure Travel Hotel Bookings to Drive Industry Revenue Into Early 2022
Skift Take
Leisure travel will continue to dominate hotel booking patterns into the new year, even if Omicron is only a minor blip on performance.
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Sunday, Dec. 5Truist said they believe the strength in leisure travel is extending beyond the upcoming holiday period and well into 1Q22, leaving them most positive on the leisure centric stocks. The mixed news is, following a Delta-related pullback in July, booking volumes during August-November for future city-wide group/convention events in major markets were well above comparable 2019 levels with pricing up close to 5% versus 2019. However, the cumulative booking pace of 2022 corporate meetings/events is tracking -35% versus 2019 with the trends generally far better for warmer/southern locations than for colder/northern locations. They see very limited statistical evidence that individual business travel is ready to take off like some bullish statements by senior hotel executives at the recent NYU hotel conference.
Skift Note: Executive chatter about business travel roaring back is industry BS.
Morgan Stanley reported on takeaways from their recent 2021 consumer conference. In general companies have not seen an impact from omicron on their US businesses to date and continue t
