Business
Betting on Corporate Travel is a Risky Business
Surprise! Business travel is making a comeback with the potential to be better than ever, at least according to some hotel executives. But with other companies tracking their expenses, the boom may not last.
Hotel companies report business travel in two segments: temporary business, for a personal business traveler; and groups, for multiple travelers who require meeting rooms and spaces. In 2019, those two segments together accounted for 75% and 57% of the total business structure for Hilton Worldwide Holdings and Marriott International, corresponding. That shows how important the company’s travel picture is to accommodation.