Hotel Booking Index 2023 Travel Outlook

Summary The 2023 travel outlook presents a positive short-term forecast for the hotel industry, driven by high travel likelihood, strong financial security perceptions, and a preference for hotels among leisure and business travelers. The Hotel Booking Index, with a composite score of 7.1, indicates favorable booking trends, supported by over half of adults expressing increased travel plans, longer trips, and increased hotel stays compared to 2022. Most travelers, including Valentine’s and Easter vacationers, favor hotels, with business travelers emphasizing the importance of face-to-face meetings and exhibit strong interest in bleisure travel, reflecting a return-to-normal for workplace travel standards. Overall, the industry shows signs of growth with increased travel engagement and a solid preference for hotels amid improving traveler confidence.