In 2022, travelers are planning to get back on the road and take to the skies to explore new destinations and return to familiar favorites. While travel demand has waxed and waned throughout the pandemic, recovery has nevertheless progressed steadily. Weekly hotel occupancy increased throughout February 2022, according to STR data, and ended the month just 4.7 percent shy of the occupancy level from the comparable week in 2019. Even considering the slow comeback of corporate travel and meetings business, U.S. hotel occupancy is expected to exceed 2019 levels in 2023 along with other key metrics, including average daily rate (ADR) and revenue per available room (RevPAR) on a nominal basis, per STR and Tourism Economics' revised forecast for the U.S. hotel industry released in late January. With guests returning and hospitality businesses recovering, hoteliers are searching for ways to optimize their businesses in a post-pandemic landscape.
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