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Florida Hotel Business Travel Revenue Projected To Drop $5.3 Billion Compared To 2019

Tampa hotel
Robert Neff via Wikimedia Commons

Hotel business travel revenue is not expected to reach pre-pandemic levels until 2024.

The COVID-19 pandemic continues to hurt Florida's hotel industry, as a new report finds that business travel is being hit particularly hard.

The American Hotel & Lodging Association and Kalibri Labs project that business travel revenue for Florida hotels will be down $5.3 billion this year compared to 2019.

That's off nearly 61 percent year-over-year.

In addition, revenue is not expected to reach pre-pandemic levels until 2024.

While leisure travel is recovering quicker, business travel remains low as more trips are being canceled or postponed due to the recent spike in COVID-19 cases.

But as bad as Florida's figures are, they're actually better than the damage nationwide.

The hotel industry is projected to finish this year off $59 billion dollars in business travel revenue — down 66% compared to 2019.

The decline is also affecting industry staffing — hotels are expected to end this year with nearly half a million fewer jobs nationally compared to 2019.

And on a market basis, Orlando's hotel business travel revenue is projected to drop 81.5% compared to 2019 ($2.8 billion in 2019, $518 million in 2021); Miami will be off 62.6% ($1.3 billion vs. $497 million); Ft. Lauderdale down 67% ($703 million vs. $232 million); West Palm Beach down 65.2% ($416 million vs. $145 million); and Tampa down 61.6% ($429 million vs. 165 million).

Mark Schreiner is the assistant news director and intern coordinator for WUSF News.
As a reporter, my goal is to tell a story that moves you in some way. To me, the best way to do that begins with listening. Talking to people about their lives and the issues they care about is my favorite part of the job.
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