New York’s world-renowned hotel and tourism industry has a steep climb to bounce back to its pre-pandemic glory days — with hotel business travel revenue expected to be 55% lower in the Big Apple market this year than in 2019, a sobering new industry analysis reveals.
The report by the American Hotel & Lodging Association and Kalibri Labs says hotel business travel revenue across the US in 2022 is projected to be 23% below pre-pandemic levels, ending the year down more than $20 billion compared to 2019.
These projections come after hotels lost an estimated $108 billion in business travel revenue during 2020 and 2021 combined.
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