According to a recent hospitality sector survey, 72% of Americans intend to either maintain or increase their hotel stays in 2024, as opposed to their stays in 2023. Furthermore, hotels continue to be the preferred option for prospective travelers in terms of lodging.

The survey conducted by the American Hotel & Lodging Association (AHLA), found that 53% of Americans have indicated their intention to travel overnight for leisure in the next four months, while 32% have plans for overnight business travel. When it comes to accommodation, hotels are the top choice among likely travelers, with 71% of likely business travelers and 50% of likely leisure travelers opting for this option.

Despite the optimistic prospects for hotel owners, the survey revealed that the growth of hotels and other travel-related enterprises is hindered by inflation. According to the survey findings, within the upcoming four months:

• 56% of survey respondents said they are less likely to stay in a hotel because of inflation

• 53% said they are less likely to travel overnight because of inflation

• 48% said they are less likely to travel by airplane because of inflation

• 44% said they are less likely to rent a car because of inflation

The poll surveyed 2,202 U.S. adults from January 6-7, 2024. Other key findings include:

• 51% of respondents said they are likely to travel overnight for a family trip in the next four months, 39% of whom said they would likely stay in a hotel.

• 38% said they are likely to travel overnight for a romantic getaway in the next four months, 60% of whom said they would likely stay in a hotel.

• 32% said they are likely to travel overnight for Spring Break, 45% of whom said they would likely stay in a hotel.

• 35% of those surveyed ranked high-speed Wi-Fi as the top technological amenity they consider when evaluating hotels.

• 14% of those surveyed ranked keyless entry or mobile check-in as the top technological amenity they consider when evaluating hotels.

“These survey results underscore the tremendous potential 2024 holds for hoteliers and hotel employees,” said AHLA President & CEO Chip Rogers. “The year ahead will not be without challenges, however, and these findings show that inflation is preventing hotels from reaching their full potential. Still, hoteliers are optimistic about the year ahead and excited continue providing excellent services for guests throughout 2024.”

The survey findings highlight the immense opportunities that lie ahead for hoteliers and their employees in 2024. While there will undoubtedly be obstacles to overcome, these results indicate that inflation is hindering hotels from realizing their maximum potential. Nevertheless, hoteliers remain optimistic about the upcoming year and are eager to continue delivering exceptional services to guests throughout 2024.