{"id":35038,"date":"2022-02-22T10:39:49","date_gmt":"2022-02-22T15:39:49","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=35038"},"modified":"2022-02-22T10:39:49","modified_gmt":"2022-02-22T15:39:49","slug":"hotel-lodging-association-predicts-move-to-recovery-will-be-uneven-volatile","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2022\/02\/hotel-lodging-association-predicts-move-to-recovery-will-be-uneven-volatile\/","title":{"rendered":"Hotel &amp; Lodging Association Predicts Move To Recovery Will Be Uneven, Volatile"},"content":{"rendered":"<p>The hotel industry will continue moving toward recovery in 2022, but the path will be uneven and potentially volatile, and full recovery is still several years away, according to the American Hotel &amp; Lodging Association (AHLA)\u2019s 2022 State of the Hotel Industry report.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The report, which reveals shifts in consumer and business sentiment, was created in collaboration with AHLA Silver Partner Accenture and is based on data and forecasts from Oxford Economics and AHLA Platinum Partner STR.<\/p>\n<p><span class=\"Apple-converted-space\">\u00a0<\/span>The top findings of the report include:<\/p>\n<p><b>\u2022 <\/b>Hotel occupancy rates and room revenue are projected to approach 2019 levels in 2022.<\/p>\n<p><b>\u2022 <\/b>The outlook for ancillary revenue, which includes food &amp; beverage and meeting space, is less optimistic.<\/p>\n<p><b>\u2022 <\/b>Hotels lost a collective $111.8 billion in room revenue alone during 2020 and 2021.<\/p>\n<p><b>\u2022 <\/b>Leisure travelers will continue to drive recovery: in 2019, business travelers made up 52.5 percent of industry room revenue; in 2022, it is projected to represent just 43.6 percent.<\/p>\n<p><b>\u2022 <\/b>Business travel is expected to remain down more than 20 percent for much of the year, while just 58 percent of meetings and events are expected to return. The full effects of Omicron are not yet known.<\/p>\n<p><b><span class=\"s1\"><span class=\"s2\"><!--more--><\/span><\/span>\u2022 <\/b>Changing traveler segments, including the rapid rise of bleisure travelers\u2014those who blend business and leisure travel\u2014are impacting how hotels operate. In fact, one study of global business travelers found 89 percent wanted to add a private holiday to their business trips in the next twelve months.<\/p>\n<p><b>\u2022 <\/b>In this new environment, technology will be even more critical to a property\u2019s success, according to AHLA Platinum Partner Oracle Hospitality\u2014with hotels investing in technology to meet the needs of both guests and employees today and in the future.<\/p>\n<p>\u201cHotels have faced enormous challenges over the past two years, and we are still a long way from full recovery. The uncertainty about the Omicron variant suggests just how difficult it will be to predict travel readiness in 2022, adding to the challenges hotels are already facing,\u201d said Chip Rogers, president and CEO of AHLA.<span class=\"Apple-converted-space\">\u00a0 <\/span>\u201cThe slow return of business travel and fewer meetings and events continue to have a significant negative impact on our industry. The growth of leisure and bleisure travel represents a shift for our industry, and hotels will continue evolving to meet the needs of these \u2018new\u2019 travelers.\u201d<\/p>\n<p>\u201cTravel and hospitality brands still face an uncertain marketplace, but all these changes also herald a new era of opportunity to drive long-term customer loyalty. They should flex with demand and respond to the added complexities and volatility in travel by delivering a \u2018travel partner\u2019 mentality to their leisure and business customers,\u201d said Liselotte De Maar, managing director in Accenture\u2019s travel industry.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>\u201cTravelers are now not only focused on price and quality of a location, but also on cleanliness and sustainability values and impact, and expect a clearer, more digital service. Companies will need to continue to digitally transform, reinvent their loyalty model, as well as rethink the employee proposition, if they wish to thrive.\u201d<\/p>\n<p>AHLA officials said unlike other industries, hotels have been dealing with a major workforce shortage which could impact recovery. The AHLA Foundation is launching a new, national, multichannel ad campaign to help fill the hundreds of thousands of open jobs in the hotel industry. The pandemic wiped out 10 years of job growth.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>This multi-year effort, \u201cThe Hotel Industry: A Place to Stay,\u201d aims to help job seekers discover the 200-plus career pathways and many perks that the industry offers, including competitve wages, benefits, flexible schedules, and travel opportunities.<\/p>\n<p>The American Hotel &amp; Lodging Association (AHLA) is the sole national association representing all segments of the U.S. lodging industry. Headquartered in Washington, D.C., AHLA focuses on strategic advocacy, communications support and workforce development programs to move the industry forward.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The hotel industry will continue moving toward recovery in 2022, but the path will be uneven and potentially volatile, and full recovery is still several years away, according to the American Hotel &amp; Lodging Association (AHLA)\u2019s 2022 State of the Hotel Industry report.\u00a0 The report, which reveals shifts in consumer and business sentiment, was created [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Hotel &amp; Lodging Association Predicts Move To Recovery Will Be Uneven, Volatile - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2022\/02\/hotel-lodging-association-predicts-move-to-recovery-will-be-uneven-volatile\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Hotel &amp; 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