Business Travel Optimism Trending Upward for 2023

We have good news for planners! While everyone is busy speculating about an uncertain economy on the horizon, business travelers are indicating that nearly 70% of their employers have either returned to the pre-pandemic normal or increased amounts of business travel, according to recently released national Hotel Booking Index survey research commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult.

The survey also revealed a few more optimistic tidbits, including:

• 45% of business travelers are likely to take more business trips in 2023 vs. 2022.
• 51% of business travelers say the share of employees expected or encouraged to travel for work is now the same as before the pandemic, while another 20% say it’s more than before.
• 53% of business travelers say the average length of business trips is now the same as before the pandemic, while another 20% say it’s more than before.
• 52% of business travelers say the amount of business trips expected or supported by their employer is now the same as before the pandemic, while another 20% say it’s more than before.
• 52% of business travelers say the amount of spending their employer will cover on business trips is now the same as before the pandemic, while another 18% say it’s more than before.
• Hotels are the top lodging choice among those planning to travel for business and leisure in the next three months.
• 52% of adults would choose to stay in hotels if they were to travel overnight for leisure in the next three months, while 76% of potential business travelers would be most likely to stay in a hotel if they travel for work during the same timeframe.
• 48% of business travelers have extended a business trip in the last year for leisure purposes and 84% of business travelers are interested in bleisure, a trip that includes both business and leisure.
• Based on the survey results, AHLA’s Hotel Booking Index for the next three months is 7.1, or very good. The index is a composite score gauging the short-term outlook for the hotel industry. The 10-point score is based on a weighted average of survey respondents’ travel likelihood in the next three months (50%), self-reported household financial security (30%) and a preference to stay in hotels for travel (20%). The two Hotel Booking Index surveys of more than 4,000 adults were conducted Dec. 16 to 19, 2022, and Dec. 28, 2022, to Jan. 2, 2023.

“With Americans planning for more hotel stays this year and business travel moving in the right direction, AHLA’s Hotel Booking Index is a cause for optimism,” concludes Chip Rogers, AHLA president and CEO.