Shift To Virtual Meetings Declines, Boosting Hotel Industry Outlook: Morgan Stanley

Grand News Network | November 6, 2023

Morgan Stanley analyst Jamie Rollo conducted an online survey of 135 corporate travel managers responsible for about $8 billion in travel spend with a global spread of operations, and shared the findings.

The survey, which is Morgan Stanley’s 21st annual Global Hotel Corporate Travel Survey, has historically been a reasonable guide to future RevPAR growth, says the analyst.

Respondents expect their 2024 travel budgets to be, on average, ~8% above 2023, writes the analyst.

According to the analyst, it is encouraging that budgets appear to be holding up well given the growing macroeconomic uncertainty, and 8% is well above consensus expectations for just about 2% RevPAR growth in 2024.

About 40% of respondents said that their companies have returned to pre-COVID travel levels, a marked increase compared to the analyst’s May 23 / Oct 22 surveys.

Room rates are expected to increase by 5% YoY on average in 2024, ranging from 4-5% in the U.S./U.K. to -1% in China, notes the ...

Full story available on Benzinga.com


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