AHLA and Kalibri Labs' new report shows that the hotel industry will end 2022 with a $20 billion decrease in business travel revenue, with corporate travel policies still uncertain. Leisure travel is expected to recover faster in 2022, driving the hotel demand landscape. While leisure hotel spending is projected to return to 2019 levels in 2022, business travel revenue is expected to be down 23%. Four markets - San Francisco, New York, Washington, and San Jose - are expected to remain down 50% or more, while eleven additional markets are down more than 30%. Business travel is the hotel industry's largest source of revenue and is not expected to fully recover until 2024.
