Business and hospitality leaders in San Francisco and San Jose on Thursday are kicking off National Travel and Tourism Week with some positive projections in leisure travel but a lot more work needed in the business travel sector.
The projected numbers for hotel revenue continue to lag, according to the American Hotel and Lodging Association and Kalibri Labs. While leisure travel is on the upswing, hotel business travel revenue overall is projected to be down nearly 25% so far this year from pre-pandemic levels. That translates to about $20 billion.
In the Bay Area, San Francisco is on pace to see the sharpest decline in business travel revenue of all major U.S. cities, with a drop of nearly 70%, or $1.7 billion. San Jose also is seeing a significant decline with a 52% drop, or more than $630 million.
On Thursday morning, local leaders in those sectors gathered at the Chamber of Commerce in San Jose and the Hilton in San Francisco's Union Square to piece together possible solutions for reigniting the local tourism industry.