CHARLOTTE — Revenue from business travel at Charlotte hotels this year is projected to decline by 73% from 2019, according to a new forecast by the American Hotel & Lodging Association and Kalibri Labs.
In 2019, business travel generated sales of $589 million for Charlotte hotels. This year, that figure is expected to decline to $157 million — a difference of $432 million. Nationwide, the study predicts the industry will finish the year with revenue of $30 billion from business travelers, a decline of 66% from two years ago, when sales reached $89 billion.
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The AHLA is a Washington-based lobbyist and trade group. Kalibri Labs analyzes hotel data to identify and predict industry trends.
The figures reflect what Charlotte tourism executives have said through much of this year. Leisure visits have largely returned but higher-revenue business travel remains moribund.
“Business travel is the top revenue source for the industry,” an AHLA spokesperson told CBJ recently. “And people are not traveling right now.”
Read more here about the state of the local hotel sector.
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