Shift To Virtual Meetings Declines, Boosting Hotel Industry Outlook: Morgan Stanley

Benzinga ·  11/07/2023 02:46

Morgan Stanley analyst Jamie Rollo conducted an online survey of 135 corporate travel managers responsible for about $8 billion in travel spend with a global spread of operations, and shared the findings.The survey, which is Morgan Stanley's 21st annual Global Hotel Corporate Travel Survey, has historically been a reasonable guide to future RevPAR growth, says the analyst.Respondents expect their 2024 travel budgets to be, on average, ~8% above 2023, writes the analyst.According to the analyst, it is encouraging that budgets appear to be holding up well given the growing macroeconomic uncertainty, and 8% is well above consensus expectations for just about 2% RevPAR growth

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