In many markets, the optimism we’ve seen returning to the hospitality industry in 2022 is mixed with caution. Two years of restricted travel left many people desperate to travel, and we saw a travel boom in the regions that lifted inbound and outbound restrictions. Domestic travel also picked up.
Demand returned to pre-pandemic levels, and prices in many destinations surpassed 2019 levels. However, business travel was slow to return, and many destinations had to wait for international markets to open up again.
