Return to offices could boost business travel

Hyatt observes increased office returns in major cities, potentially leading to a rise in business transient travel

However, the rebound in business trips has not yet reached pre-pandemic levels. This is partly due to the fact that many people are hesitant to embark on trips when the individuals they intend to meet are not present at the office.

Key takeaways

• As we await the recovery of business travel, Hyatt has found it necessary to adjust some of its long-standing strategies. One notable change is the company's renewed focus within its loyalty program.
• Before the pandemic, the primary goal of its loyalty program was to target frequent business travelers and engage them with the company's reward points. However, given the uncertainty surrounding business travel, the company is reevaluating its loyalty program.
• The company has determined that a more sustainable approach to cultivating loyalty is by providing exceptional experiences, starting with leisure activities.

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