Business travel, convention bookings buoy hopes for City’s recovery
Yariv Ben-Ari, co-chair of Herrick's Real Estate Hospitality Group, spoke to Crain's New York Business about the comeback of in-person events and business travel. The article referenced Coterie, a fashion business market recently held at Javits Center, and a Salesforce event of 5,000 employees staying at 14 New York City hotels; though it also noted the City's official marketing agency's prediction of full return of domestic and international business travel by 2025 and 2026, respectively.
The article stated that Yariv explained, "Large hotel groups have likewise forecast that full demand for business travel will not be back until the forth quarter of the year[.]"
Yariv reflected, "It takes time to get a convention center or a food and beverage program at a hotel up and running," adding, "It's not just overnight."
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