Business Transient, group demand remain weak
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CEOs from Hilton, Marriott, Wyndham, Extended Stay America, RJL Lodging Trust, Host Hotels & Resorts, Pebblebrook Hotel Trust, RLH Corporation, and Corepoint Lodging weighed in on their Q3 earnings trends. A common theme was slight uptick in business travel as the country and globe continue to navigate their way through the COVID-19 pandemic. The current business traveler population is driven by the defense, technology, insurance, and healthcare industries. In addition, smaller corporations have been traveling opposed to larger companies.