Business travel likely to pick up in fall, Hyatt CEO says

Travelers are heading to resorts, not cities, as they look to travel post-pandemic, according to the Hyatt Hotels CEO.

With more workers now returning to offices, it won’t be long until business travel also resumes, according to Hyatt Hotels CEO Mark Hoplamazian.

“We are already seeing the signs of people starting to travel for work in a more affirmative way, a more significant way,” Hoplamazian said in an interview during CNBC’s Evolve Global Summit on Wednesday.

“Most of the bankers, consultants and lawyers that I’m talking to are gearing up to be back on the road, so I think that will really take hold in a more affirmative way in the fall,” he said.

Hyatt Hotels has seen a boon in bookings as travelers are now more willing to go on a vacation as the pandemic has waned. Its entire chain will see about 90% of the business it saw in 2019 during the two-week period around July 4.

Much of that has been focused around resorts, which Hoplamazian said “are back with a vengeance.” Hyatt’s resorts are about 30% above where they were in 2019 over that same holiday period.