Hotels Envision Group Bookings Will Make Up for Lost Business Trips
Photo Credit: Group bookings revenue have recovered to or exceeded 2019 levels in many cases. Unsplash / M Accelerator
Skift Take
Most of the major hotel chains have now reported their fourth-quarter results. Tourists are back in full force, traditional business travelers less so. But fortunately for them all those conferences and big events are keeping their properties filled.
“An Outstanding year,” “thrilled to report,” “record-breaking…” every U.S. hotel group CEO has been jubilant in their earnings calls these past days.
Hilton’s Chris Nassetta possibly the most: “We're at a pivotal moment with great opportunities ahead in a new golden age of travel.”
The execs say they’re finally benefiting from all of that pent-up demand. Across the board with their results reporting, it’s clear leisure travelers are mostly driving that recovery, with elements of blended travel mixed in.
They’re also optimistic on corporate travel. It seems group business is set to be the star in 2023, on top of extra business from workers hitting the road as the U.S. begins its infrastructure projects.
Truly Transformative Year
Hyatt CEO Mark Hoplamazian described 2022 as a “truly transformative year” during an earnings call on Feb. 16.
Group booking revenue hit a milestone in the company’s recovery, as it made it back to2019 levels in its fourth qua
