The news recap from hotel advisor and global travel group points to a negative impact on business travel to the United States as a result of the European Debt Crisis. This story is a result of a research study done by the Global Business Travel Association Foundation (GBTA). In contrast to that report, luxury hotels are still being sought out by Wall Street. According to the GBTA*, it found several critical areas why business travel here will be affected. Its executive director and COO Michael W. McCormick said in summary: “We’ve seen a resurgence in business travel investment, meaning slow but strong economic recovery for the U.S. However, in a severe situation where the Eurozone may even break apart, business travel would drop dramatically, severely impeding economic growth overall.” Get the full story and related statistics by this hotel advisor group here. *The GBTA Foundation provides on-going financial resources to conduct research initiatives beneficial to the entire business travel industry; to support educational and research offerings for business travel industry professionals and to provide scholarship opportunities for business travel professionals. There is also a separate story in USA Today about how Wall Street is not curbing spending on luxury hotels. In it, Ed Walter, CEO of Host Hotels a hotel management company, stated: “As I’ve talked to (hotel general managers) and brand partners, while I’m sure there is an occasional company still concerned about going to a luxury hotel for an event, it seems the fear of landing on the front page for doing that has largely dissipated.” Need more news and updates about the hospitality industry? Please visit our media page and get fresh perspectives from our experts on hotel management. Or, if you need to consult a hotel advisor about another matter, please complete a request for consultation below. One of our experts will contact you directly.
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