Surprise! Business travel is back with the potential to be better than ever, at least according to some hotel executives. But with other companies watching their expenses, the boom may not last.
Hotel companies report business travel within two segments: business transient, for an individual business traveler; and group, for many travelers requiring rooms and a meeting space. In 2019, those two segments together represented 75% and 57% of the total business mix for Hilton Worldwide Holdings and Marriott International, respectively. That shows just how key the corporate travel picture is to lodging.