Short excerpt from a YouTube video (Mark Simpson, uploaded Sep 30, 2023) describing a rebound in the hotel industry in 2021–2022. The speaker says hotels experienced strong growth in 2021–2022, catching up to the prior growth of short-term rentals, and emphasizes a marked return of business and group demand—notably conference travel—where attendees favored hotels over short-term rentals.
The trend. And yes, hotels are now are. We're growing and at a really strong pace in 2021, 2022, sort of catching up to the growth that short term rentals had. It is incremental improvement over and above what our industry already brought back. In terms of going after leisure demand. What has been coming back really strongly for hotels is business demand. It's group demand. And how many conferences did we go to in2022 versus what we went to in2021? I know for me it was a massively different year and most of those big conferences, we were all staying in hotels and not necessarily short term rentals.
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