Still, STR predicts that the hospitality industry won't rebound to prepandemic levels until 2024. "And I think that bodes very well for leisure travel recovery in the summer." "That is indeed pent-up demand," he said. According to Sacks, the percentage of households who plan to travel in the next six months has risen from the low 60s to 87 percent over the past month and a half. "From an economic standpoint, we're very, very encouraged about the near-term prospects," said Adam Sacks, president of Tourism Economics, during the conference. During the virtual event on March 25, analysts discussed rising hotel occupancy in North America, the resurgence in leisure travel demand and early signs that some business travel demand is coming back. More positive statistics come from STR's recent Hotel Data Conference: Global Edition. Northstar Meetings Group Event Speakers.
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