The business travel recovery continues to lag far behind leisure’s comeback, with U.S. hotel business travel revenue for this year projected to be down by 23%, or more than $20 billion, on 2019, according to a newly released report from the American Hotel & Lodging Association and Kalibri Labs.
For 2020 and 2021, U.S. hotel business travel revenue was down an estimated $108 billion combined.
Among the hospitality markets hardest hit by lost business travel this year is San Francisco, where hotel business travel revenue is expected to be down by nearly 70%, or $1.68 billion, on pre-pandemic levels.
Likewise, New York is projected to see more than $2.5 billion in U.S. hotel business revenue disappear this year, representing a decline of just over 55% versus 2019.
Washington and Chicago are also set to miss out on over a billion dollars, with their hotel business travel revenue projected to be down 54.4% and 48.7% on 2019, respectively.