US business travel is back but it looks different, hotel CEOs say
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Business travel has returned to the United States, with companies booking trips at higher levels and prices than before the pandemic. However, long-haul international business travel is still being avoided in favor of U.S. trips. Small- and medium-sized enterprises have led the recovery, but large corporate bookings are also rising. Hyatt Hotels CEO Mark Hoplamazian stated that the company's corporate accounts in April are up 12% year-to-date, and total business travel is up 6% year-over-year. Pricing for large corporate accounts is up about 5% to 8% for the next 12 months. The rebound in business travel is also driving a recovery in group business travel, with strong demand for future bookings. Marriott International CEO Anthony Capuano noted that the group segment is currently the strongest performing segment. Overall, hotel CEOs agree that while business travel is back, it looks different with a shift towards domestic travel and a focus on smaller and closer meetings.



https://www.investing.com/news/stock-market-news/us-business-travel-is-back-but-it-looks-different-hotel-ceos-say-3470219