According to new analysis released this month (Oct. 2022) by American Hotel & Lodging Association (AHLA) and Kalibri Labs.
The projections are not adjusted for inflation, and the actual recovery in hotel revenues is likely to take a few more years.
The post-pandemic recovery remains patchy, particularly in many major cities and destinations where business travel continues to lag. Across the top 50 U.S. markets, 80% of hotel travel revenue is projected to exceed 2019 levels, but only 40% will meet this corporate travel revenue milestone. Many urban markets that rely heavily on the events and group gatherings business are still on the road to recovery.
Here’s how the top 10 hotel, business and leisure travel revenue markets are predicted this year:
*Source: Kalibri Labs
The surge in revenue creates historic career opportunities for hotel workers as there are currently more than 115,000 hotel jobs open across the country. Hotels offer a variety of incentives for potential employees to fill open positions — according to a September 2022 AHLA member survey, 81% have increased wages, 64% offer greater flexibility in working hours, and 35% have expanded benefits.
“The hotel industry continues its march towards recovery, but we still have a long way to go before we are fully there,” he said AHLA President and CEO Chip Rogers. “Therefore, AHLA remains focused on working with members, legislators and stakeholders in markets that are slower to recover to ensure the full return of meetings, conferences and group travel in addition to leisure and business travel. At the same time, we continue to grow the industry’s talent pipeline by highlighting the unparalleled career opportunities that hotels offer. With higher wages, better benefits and more flexibility and advancement opportunities, there has never been a better time to work in a hotel.”
To help hotels fill vacancies and raise awareness of the 200+ career paths in the hospitality industry, the AHLA Foundation’s multi-channel advertising campaign “A Place to Stay” is now active in 14 cities including Atlanta, Baltimore, Chicago, Dallas , Denver, Houston, Los Angeles, Miami, Nashville, New York, Orlando, Phoenix, San Diego and Tampa. Visit thehotelindustry.com for more information on the campaign.
AHLA recently completed a series of “Hospitality Works” events in major cities across the country. The campaign aimed to increase business and leisure travel while highlighting the hospitality industry’s strong commitment to investing in its workforce, keeping employees and guests safe and supporting local communities.