Business travel steadily returning to pre-pandemic levels

While business travel is still down from pre-pandemic totals, transient and group business travel have shown growth in 2023

According to STR, lodging data confirms the accelerated recovery of business and group travel, with the hotel industry finishing September strong with room demand the second-highest ever for the month.

Key takeaways

• Weekday occupancy has also increased, particularly in the top 25 largest hotel markets in the United States, especially San Francisco, which posted the highest weekday occupancy in the last week of September at nearly 90%;
• While 2022 totals were still 29% below 2019 levels, group occupancy data is now approaching pre-pandemic demand levels and there are expectations that it will reach 2019 levels this fall;
• The STR research found several major trends, including a slow but steady recovery, small- and medium-sized companies are leading the way, a boost in business travel from employees returning to the office and the continued growth of bleisure travel.

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