As hotel and corporate travel activity continues into May 2022, Hilton, Marriott, and the Global Business Travel Association (GBTA) have reported various findings that impact the meeting and event industry’s path to recovery.
Hilton Worldwide reported substantial contributions from business travel and groups to its first-quarter performance. With 55% of Hilton’s revenue coming from business travel prior to 2020, President & CEO Christopher Nassetta cites that business travel has returned to 45% and estimates the gap will close by the end of 2022.
Marriott International reported that first-quarter U.S. and Canada business room nights outperformed other regions but remained 10% to 15% down in March 2022 compared with 2019 occupancy. Marriott has also observed shifts in travel patterns, which included blended leisure and business trips as a continued trend.
According to GBTA’s April poll, 86% of companies represented reported they allow at least some non-essential domestic travel, compared with 73% in GBTA’s February poll. International travel permissions have had a bigger rebound, with 74% saying their company allows it, which is an increase of 26% points from February.