Business

Leisure travel fuels a hard-fought recovery in Madison hotel industry | Business News

The hotel and hospitality industries are still suffering from the COVID-19 pandemic, but leisure travelers are fueling a recovery that’s generating higher-than-projected room taxes to support Madison’s city budget and fund tourism-related activities.

The city saw $18.9 million in room taxes in 2019, but as the pandemic took hold the amount plummeted to $5.9 million in 2020, forcing the city’s Room Tax Commission to slash funding for Destination Madison, Monona Terrace, Overture Center and other entities, as well as the general fund.

But it’s getting better.

In June, the city projected room tax

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A Business Travel Recovery Remains Elusive Heading Into 2022

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Business travel—a key segment for certain lodging companies and airlines as they look to recover from the pandemic—remains a big wild card as the Omicron variant continues to spread rapidly.

“We’re trying to figure out what’s going on and to come out with some updated guidance,” a corporate travel manager told Barron’s on Tuesday.

Business-related travel falls off sharply during the holiday season, and this year isn’t any different, says Steve Reynolds, CEO of Tripbam, which helps companies with airline and hotel bookings.

 “The big question is how big a bounce are we going to

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TRAVEL LEADERS CORPORATE ANTICIPATES STRONGER BUSINESS MARKET IN 2022

NEW YORK, Dec. 20, 2021 /PRNewswire/ — While the demand for business travel is growing, and should continue to recover in 2022, changes brought on by the pandemic will affect many aspects of trip planning, according to Travel Leaders Corporate’s leadership team. Travel Leaders Corporate is an innovative business travel solutions firm with a focus on customized Travel Fulfillment, Meetings Management and Data & Analytics.

Business travelers will face reduced airline schedules, fewer options for hotel rooms and higher prices. Border closures and lockdowns around the world will slow international travel. And there is still much uncertainty regarding the impact

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Hopes for Business Travel Recovery Rise

Business travel is lining up for departure, but indications are it’s in for a longer taxi to takeoff.

Signs of recovery for the sector are evident, with Lyft CEO Logan Green saying on Tuesday (Nov. 2) during an earnings call with analysts that “airport rides nearly tripled year over year in Q3.”

Uber will release Q3 2021 financials after the bell on Thursday (Nov. 4).

That adds to other recent upbeat pronouncements, such as Delta CEO Ed Bastian reporting during the airline’s Q3 earnings release in mid-October that “business travel has picked up over the last month, with volumes now

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