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Expand chart
Data: American Hotel & Lodging Association and Kalibri Labs; Chart: Danielle Alberti/Axios

Stayed in a hotel lately? Neither have I.

Revenue in the hotel sector is projected to be down $59 billion this year compared with 2019, per a report from the American Hotel & Lodging Association (AHLA) and Kalibri Labs, a hotel data analytics company.

Why it matters: Business travel — which, for a shiny moment, looked like it might rebound, before COVID-19's Delta variant surge — is the bread and butter of the hotel business. Now it's "not expected to reach pre-pandemic levels until 2024," according to AHLA.

What they're saying: An estimated 67% of business travelers "are planning to take fewer trips, 52% are likely to cancel existing travel plans without rescheduling, and 60% are planning to postpone existing travel plans," according to a national survey by Morning Consult on behalf of AHLA.

Go deeper

Delta Air Lines CEO warns fuel costs could dig into profits

Photo: Nicolas Economou via Getty Images

Delta Air Lines’ biggest concern for the fourth quarter isn’t “the variant” — as CEO Ed Bastian refers to it — it’s fuel costs.

The big picture: Warnings like Delta's are a natural result of the global fuel chaos.

U.S. to lift restrictions for fully vaccinated international travelers on Nov. 8

People wait in line to receive information on their flights at Chicago O'Hare International Airport on Oct. 12, 2021. Photo: Jacek Boczarski/Anadolu Agency via Getty Images

The White House will announce Friday plans to lift travel restrictions for fully vaccinated international travelers beginning Nov. 8, a White House official said.

Why it matters: The move will allow vaccinated travelers from most countries to visit the U.S. for the first time in more than 18 months.

Philly businesses see "pretty modest" pandemic recovery

Illustration: Sarah Grillo/Axios

Mid-size and large Philadelphia businesses have become significantly more financially stable since pandemic-driven shutdowns began last year, according to a new report.

  • But small businesses have only seen marginal improvements.

Driving the news: Pew Charitable Trusts on Wednesday released its snapshot of how businesses are faring since March 2020.

  • The research suggests health care and social assistance businesses — the city's largest job sector — saw top gains in average financial stability, while hospitality businesses, like restaurants and hotels, showed higher risks of failing over the next year.
  • Meanwhile, women-led and women-owned businesses had lower financial stability scores on average compared to those led and owned by men, the report found.