Hoteliers weigh strength of leisure, business demand in budgeting for 2024

Hotels also must address business travel demand that never returned to 2019 levels

Aug 22, 2023

The recovery trajectory of leisure and business-transient demand for hotels is top of mind for hotel owners entering budget season as a recession of the U.S. economy looms.

Key takeaways

  • Many hotels and resorts have offered “crazy hourly rates” to attract talent. Now, as workers return, it’s tough to draw back on wages;
  • Getting more flexible with your staffing is a big piece as you start looking at leisure demand. It’s getting that hybrid model.
  • The biggest factor with tech investment is whether it improves revenue, market share, guest satisfaction and communication.

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