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The hotel industry is seeing a record rise in occupancy rates this month as more people travel in better weather, according to the CEO of Wyndham Hotels and Resorts.
“The past two weeks … have been the highest two weeks of occupancy in our industry since last March and to see occupancy levels return to 85% of their level in 2019 is impressive,” Geoff Ballotti said Thursday. on CNBC. “Closing Bell.”
The hotel chain consists of brands such as Ramada, Days Inn, AmericInn, Super 8 and Hawthorn Suites.
As other travel competitors like Airbnb gain popularity, Balloti said he was not deterred by this competition because of the differences in how his customers use their services.
“We appeal to families who are on the go and traveling, and we appeal to that everyday business traveler who stays at the hotel,” he said, adding that those blue collar workers who book short-term bookings generally do not stay in vacation rentals. The average stay at any of the Wyndham hotels is also much shorter, averaging less than two nights.
While the deployment of vaccines is underway across the country, the issue of vaccine passports is being debated.
“I think the industry definitely needs to develop a uniform digital health certification on testing,” Ballotti said. “It could make travel easier, it could make travel safer.”
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