Hotels Poised for Strong Holiday Season, Industry Group Reports
(11/16/2023) The business outlook for hotels remains strong for the remainder of 2023, thanks to an uptick in business travel and a preference among business and leisure travelers to stay in hotels.
According to a survey commissioned by the American Hotel & Lodging Association and conducted by Morning Consult, 68% of Americans whose jobs involve travel said they were likely to travel overnight for business during the last three months of 2023, up from 59% in 2022. Hotels are the top lodging choice for 81% of business travelers surveyed.
The survey found that 32% of Americans are likely to travel overnight for Thanksgiving, up from 28% a year earlier, while 34% are likely to travel overnight for Christmas, up from 31% last year.
The survey also found that travel attitudes have largely returned to pre-pandemic norms. Nearly three-quarters (71%) of Americans now say their likelihood of staying in hotels is the same as prior to the pandemic, and nearly 70% of business travelers say their employers have either returned to the pre-pandemic normal or increased amounts of business travel. This is good news for hoteliers, as business travel is one of hotels’ main sources of revenue.
The survey of 4,006 adults was conducted Sept. 18-23, 2023.