Author Topic: Business travel revenue down in Southwest Florida  (Read 367 times)

0 Members and 1 Guest are viewing this topic.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,127
  • Gender: Female
Business travel revenue down in Southwest Florida
« on: April 22, 2022, 07:32:45 pm »
I don't see this right now as a make or break situation for SW Florida nor DeSantis considering how many people are moving into the area on a daily basis. Businesses are moving into the area and there are several very large projects under construction. Business travel may be down due to the fact that this area is no longer a vacation bargain; prices have skyrocketed (just like most of the country). What may eventually hurt DeSantis (and you know he'll get blamed) is the lack of affordable housing. Also hopefully he indeed has a handle on illegal immigration into this state.

Business travel revenue down in Southwest Florida

Vacation travel is back in Florida, but not business travel. Since the Sunshine State is normally the top market for business travel, this has proven worrying for restaurants, hotels and other industries.

New information shows the travel industry is not back to pre-pandemic levels partly because business travel profits differently than leisure travel. Business and corporate group travel is the leading source of revenue for hotels, but a new report by the Florida Restaurant and Lodging Association says overall revenue for business travel is projected to be down 11% in Florida by the end of 2022, almost $1 billion below expectations. While hotels are still seeing leisure travel, they do have to up some of their prices to make up for the loss.

“People are questioning why rooms are so expensive, and the reason for that is demand is strong,” said Goff Luebkemann, senior vice president of FRLA. “But the supply also remains a little bit short; there are properties that continue to leave part of their inventory dark because of staffing shortages. That, and they simply can’t service their entire property to the level they expect and our guests expect.”

Given the Sunshine State’s high desirability as a business travel destination, groups like FRLA hope that travel gets back to how it was before the pandemic. It’s hard to predict when business travel will be back because group travel and conferences have not returned to normal levels of activity yet.

FRLA says it can get to pre-pandemic levels only if business travel groups book conference rooms, and ballrooms and have large events again. Until then, many hotels will continue to struggle to get the business they profit from the most...............

https://www.winknews.com/2022/04/22/business-travel-revenue-down-in-southwest-florida/

« Last Edit: April 22, 2022, 07:35:39 pm by libertybele »
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline cato potatoe

  • Hero Member
  • *****
  • Posts: 3,907
  • Gender: Male
Re: Business travel revenue down in Southwest Florida
« Reply #1 on: April 22, 2022, 08:14:28 pm »
Probably because the business travelers just moved here permanently, and blew up the housing market.

Offline Kamaji

  • Hero Member
  • *****
  • Posts: 57,900
Re: Business travel revenue down in Southwest Florida
« Reply #2 on: April 22, 2022, 08:18:20 pm »
A lot of former business travel won't return because people have gotten used to doing a lot of things remotely that they formerly traveled to do, like conferences and business meetings.  As a result, demand for business travel will probably stay permanently lower than it would have otherwise been but for the past two years.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,127
  • Gender: Female
Re: Business travel revenue down in Southwest Florida
« Reply #3 on: April 22, 2022, 08:27:04 pm »
Probably because the business travelers just moved here permanently, and blew up the housing market.

That's along the lines that I was thinking.  They can't build business complexes fast enough.  We have two major complexes the size of several city blocks with apartments, restaurants, retail shops, etc., and a rooftop garden bar going in, but they won't be ready until the spring of '23. '
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline DefiantMassRINO

  • Hero Member
  • *****
  • Posts: 10,113
  • Gender: Male
Re: Business travel revenue down in Southwest Florida
« Reply #4 on: April 22, 2022, 09:32:01 pm »
Why live in high tax states like Connecticut, New York, and New Jersey, when you can conduct the same business from Florida?

I think many business travelers and snowbirds are making Florida their full-time, year-round, primary residence.

The Global Climate Change zealots are making living in those states even less affordable.
Self-Anointed Deplorable Expert Chowderhead Pundit

I reserve my God-given rights to be wrong and to be stupid at all times.
"If at first you don’t succeed, destroy all evidence that you tried." - Steven Wright

Offline Fishrrman

  • Hero Member
  • *****
  • Posts: 35,527
  • Gender: Male
  • Dumbest member of the forum
Re: Business travel revenue down in Southwest Florida
« Reply #5 on: April 22, 2022, 10:35:01 pm »
RINO asks:
"Why live in high tax states like Connecticut, New York, and New Jersey, when you can conduct the same business from Florida?"

Because -- at least in SW Connecticut -- the climate is better, for some.
When it gets over 75, it's gettin' too hot for me.
(And I lived in FL as a kid for about 15 months)

Why are you still in Mass?

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,127
  • Gender: Female
Re: Business travel revenue down in Southwest Florida
« Reply #6 on: April 22, 2022, 10:48:53 pm »
RINO asks:
"Why live in high tax states like Connecticut, New York, and New Jersey, when you can conduct the same business from Florida?"

Because -- at least in SW Connecticut -- the climate is better, for some.
When it gets over 75, it's gettin' too hot for me.
(And I lived in FL as a kid for about 15 months)

Why are you still in Mass?

There are other tax friendlier states that aren't as hot @Fishrrman   Georgia is one of them. 

https://smartasset.com/retirement/retirement-taxes
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline DefiantMassRINO

  • Hero Member
  • *****
  • Posts: 10,113
  • Gender: Male
Re: Business travel revenue down in Southwest Florida
« Reply #7 on: April 22, 2022, 11:20:33 pm »
I'm still in Mass because I was born and raised here, my wife and her family are from here, my job is here, and she is disabled and her doctors are here.

It's more difficult to move when you are a spouse/caretaker for someone with special needs.  They need a medical and emotional supoort system to work through chronic medical challenges.

If I hadn't worked my ass off, lived below my means, bought my house in 2003, paid down my mortage, and saved money, I wouldn't be able to afford to live here.

My property taxes are almost twice the annual principal and interest I pay for the mortgage.

My parents-in-law can't move because my wife's father has just been diagnosed with early stage Alzheimer's, and the doctors advised that they stay in the house they live in since 1969.  Signifcant change can make the situation more difficult for the Alzheimer's patient.

Massachsuetts is not all bad.  There are still some deplorable Archie Bunker working stiffs around.  The quality of life is good ... if you can afford to live here.

As you get older, the winters become more unbearable and more difficult to endure.

For young and fancy free folk who are mobile, I'd say head to the Confederate states.  Due to the difference in the cost of living, taxation, and regulation, there are more opportunities for recent school graduates down South.

Most of the people buying houses in my area are more established, professional 30-ish/40-ish families where both spouses work full-time and have graduate educations.

Less established young people need to live with their parents, in government subsidized housing, or in towns that don't have great school systems.
Self-Anointed Deplorable Expert Chowderhead Pundit

I reserve my God-given rights to be wrong and to be stupid at all times.
"If at first you don’t succeed, destroy all evidence that you tried." - Steven Wright