It's time for business and international intentions to support overall travel after domestic (especially leisure) trips buoyed the sector for much of last year, according to Marcus & Millichap's 2023 Hospitality National Investment Forecast.
More than three-fourths of travel managers interviewed in a recent survey anticipated their companies will increase business trips this year.
Inbound international tourism is positioned to elevate even further in 2023, highlighted by easing travel restrictions from China and Japan and national leisure travel should crest after hitting its third-highest total on record.
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