Is corporate travel likely to rebound to 2019 levels?
We are reviewing some of the key takeaways on this topic from IHIF2021.
Tony Capuano, Marriott International's CEO added "I am so proud of our industry for demonstrating by our actions our confidence in travel and group meetings" but we still have a long way to go as STR's Robin Rossman predicted a 60-80% recovery by Q4 2022.
The consensus was that consumer behaviour will continue to evolve, blending travel purposes together as the "trend for work from anywhere, learn from anywhere" continues to grow, Pacious concluded, creating a larger consumer base to pick from overall.
Carine Bonnejean, Christie & Co, added that the real test will be in Autumn, when we would expect Corporate Travel demands to soar.
Kong looked to Canada, where business travel came roaring back as soon as borders opened up again, exceeding 2019 RevPar. Rajakarier of Minor Hotels was also very optimistic about the industry adding that domestic business travel and travel in general has filled the gaps left behind by international corporate travel.
We will be back next week to discuss ESG with tasters from some of the sessions seen at IHIF 2021 and all of the sessions from the event are available on demand for attendees.