Work-from-home policies affected business meetings at hotels last year, yet some lodging companies have seen it as an opportunity to focus on newer and safer hybrid meeting solutions, according to GlobalData, a leading data and analytics company.
GlobalData’s filing analytics platform found that Hilton and Accor Hotels had more mentions of ‘remote work’ and associated keywords in their company filings than other hotel chains.
GlobalData senior business fundamentals analyst Rinaldo Pereira said: “According to GlobalData’s Travel and Tourism Intelligence Center, luxury hotel occupancy rates in 2020 decreased to around 50% in China and 53% in the US. That said, the rates are expected to reach 2019 levels by 2023. With remote work still prevalent in 2021, Hilton’s strategies – which included programs for remote workers alongside a tightening of ‘safe’ meeting spaces – are a step in the right direction to meet demand for online video conferencing events.
“Notably, Hilton’s mentions around ‘remote work’ tripled in its 2020 filings over 2019, while discussions around these key words more than tripled in the same period for Accor.”
Pereira said: “Around 31% of consumers surveyed by GlobalData noted that they are continuing to work from home. In comparison to other chains, Hilton and Accor seem to be more focused on remote work solutions. While it is likely that offices reopen due to ongoing vaccination drives across the globe, hotel chains will have to raise the bar and follow the lead of Hilton and Accor to regain corporate travel confidence.”