On Monday, AHLA will release our second annual 2022 State of the Hotel Industry. The report, which was written in collaboration with AHLA Silver Partner Accenture, highlights forecasted macroeconomic trends from Oxford Economics and AHLA Platinum Partner STR, reveals shifts in consumer and business sentiment, and profiles technology trends from AHLA Platinum Partner Oracle Hospitality.
Top findings include:
- Hotel occupancy rates and room revenue are projected to approach 2019 levels in 2022
- The outlook for ancillary revenue, which includes food & beverage and meeting space, is less optimistic
- Hotels lost a collective $111.8 billion in room revenue from 2020-2021
- Business travel will remain down 20%
- 58% of meetings and events are expected to return this year
- Bleisure travel—the blending of business and leisure travel—has risen rapidly, with 89% of business travelers globally saying they want to add a personal holiday to a business trip in the next year
- These changing traveler segments will impact how hotels operate to meet travelers’ expectations. In this environment, technology will be even more critical to a property’s success
The report is under embargo until Monday, January 24 at 9am ET. You can preview the report here. Talking points are available here.
In the months ahead, we will be working closely with the Administration, Congress, and state and local policymakers on policies to keep our industry on the road to recovery.