According to a study conducted by TravelClick, a New York company providing business data and booking software for a number of hotels, the steady recovery of the American economy has allowed many Americans to once again be able to afford family vacations. This recovery has led to an increase in hotel bookings by holiday travelers in America by about 4.6%.
A majority of the American corporations however, still remain tightfisted when it comes to spending money on business conventions and conferences. Hotel bookings for individual business travelers are only up by just 7% compared to an earlier period.
According to Tim Hart, the executive vice president for business intelligence at TravelClick, this is evidence that there is still some caution in buying in the business class as some corporations prefer to channel their resources to other areas. According to the same report, hotel bookings for groups have risen by only 1.7%.
This generally comes as good news for local hotel owners, since it is an indication that tourism will remain strong for the foreseeable future. The city of Los Angeles hosted a record 41.4 million leisure travelers in 2012 alone. These statistics also indicate that 2013 will be a good year for the industry as well, with hotel bookings already up by 33%.