Business travel may never return to its pre-pandemic levels, hurting hotels over the long term, Morgan Stanley said Friday in a note to clients.
The firm's analysis is based on an October survey of around 200 corporate travel managers who oversee $8 billion in travel spend. The managers said they believe travel spend in 2021 will be 53% below 2019's levels, and that beginning in 2022, 22% of meetings will be conducted virtually.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Pro Except $mar has gone from mid $80s to over $100 in the last 6 months