In a recent call hosted by Truist, hotelAVE an shared optimistic outlook for 2024 for corporate and group travel. Despite ongoing workplace dynamics, corporate and group travel are expected to experience significant RevPAR growth, with a projected increase of 5.8% year-over-year and a 12% improvement relative to the 2019 baseline.
Other key takeaways:
- Challenges persist with corporate negotiated room rates lagging behind operating costs
- Inflationary pressures and labor negotiations add complexity
- Group business is expected to make a robust comeback, offering growth opportunities
Read the full article on HOTELS Magazine here.
