According to a new national Hotel Booking Index survey study commissioned by the American Hotel & Lodging Association (AHLA) and carried out by Morning Consult, 60 per cent of Americans report being more likely to stay in hotels this year than in 2022, and hotels are the top lodging choice among those planning to travel for business and pleasure in the next three months.
According to polls, 76 per cent of potential business travelers would be most likely to stay in a hotel if they traveled for work during the same period, while 52 per cent of people would pick hotels if they traveled overnight for pleasure in the upcoming three months.
According to survey answers from business travelers, around 70 per cent of their companies have increased business travel or reverted to the pre-pandemic standard. This is fantastic news for hoteliers because one of their key sources of income comes from business travelers.
Business travelers report that:
- 51 per cent believe the proportion of workers required or encouraged to travel for work is currently the same as before the pandemic, while 20 per cent believe it has increased.
- 20 per cent claim that the average length of business travel has increased since the pandemic, while 53 per cent claim it has remained the same.
- 52 per cent believe the number of trips they can expect from their workplace to remain the same as before the pandemic, while 20 per cent report that it has increased.
- 52 per cent believe the amount their company would cover for travel expenses remains unchanged from before the pandemic, while 18 per cent believe it has increased.
According to the survey findings, the Hotel Booking Index (HBI) for the upcoming three months is 7.1, which is excellent. The HBI is a composite score used to assess the hotel industry’s short-term prospects. The ten-point score is based on a weighted average of survey respondents’ travel likelihood in the next three months (50 per cent), self-reported household financial security (30 per cent), and a preference to stay in hotels for travel (20 per cent).
Over 4,000 persons participated in the two Hotel Booking Index polls. These were conducted from December 16 to December 19 and from December 28 to January 2, 2023.
Further significant findings about hotels in 2023:
- For those wanting to travel overnight for the approaching holidays, hotels are the best lodging option. Holidays included:
- Valentine’s Day (54 per cent)
- President’s Day (42 per cent)
- Martin Luther King Jr. Day (47 per cent).
- In the past year, 48 per cent of business travelers extended a trip for leisure.
- 84 per cent of business travelers are interested in bleisure.
- 60 per cent of Americans anticipate taking more vacations and leisure travel in 2023 compared to 2022.
- 45 per cent of business travelers anticipate making more visits in 2023 compared to 2022.
“With Americans planning for more hotel stays this year and business travel moving in the right direction, AHLA’s Hotel Booking Index is a cause for optimism among hoteliers,” said AHLA President & CEO Chip Rogers. “This positive momentum is great news for the hotel industry as well as its employees, who are enjoying more career opportunities, upward mobility and flexibility than ever before.”
Other AHLA initiatives
The AHLA Foundation’s “A Place to Stay” multi-channel advertising campaign is now running in 14 cities. This includes:
- Atlanta,
- Baltimore,
- Chicago,
- Dallas,
- Denver,
- Houston,
- Los Angeles,
- Miami,
- Nashville,
- New York,
- Orlando,
- Phoenix,
- San Diego, and
- Tampa.
Its goal is to assist hotels in filling open positions and increase awareness of the 200+ career pathways available in the hotel industry. Visit thehotelindustry.com for more information about the campaign.
Additionally, the Workforce & Immigration Initiative was recently introduced by AHLA affiliate “Hospitality is Working” The campaign aims to persuade Congress to adopt bipartisan methods to deal with the labor shortfall by integrating more immigrants into the American economy. Find out more about the endeavor here.
Download a Hotel Booking Index overview here.
Do you have any industry knowledge, experience, or news you’d like to share? Why not send us your press releases, survey results, news, and articles? We will publish them here on the IHS website. Just complete the contact form and get in touch.