WESH 2’S AMANDA DUKES REPORTS THE AGENCY SAYS WE HAVEN’T EVEN HIT BOTTOM YET AMANDA: DURING ITS ANNUAL MEETING THURSDAY, VISIT ORLANDO DELIVERED SOME OF THE MOST SOMBER PROJECTIONS OF ITS 36 YEAR HISTORY RESEARCH ANALYST DARYL CRONK MADE AN OPTIMISTIC VOW THE TOURISM INDUSTRY WILL RECOVE FULLY, BUT NOT UNTIL THE YEAR 2023. RECOVERY WILL COME, PEOPL WILL TRAVEL, IT’S PART OF HUMA NATURE TO WANT TO EXPLORE AND DISCOVER NEW PLACES. AMANDA: CRONK SAID HOTEL OCCUPANCY IN ORLANDO IS CURRENTLY LAGGING BOTH THE STATE AND THE NATION, WITH DEMAND FOR THE BUSY HOLIDAY SEASON DOWN MORE THAN 50% OVER THIS TIME LAST YEAR. HE BELIEVES ORLANDO HAS NOT HIT BOTTOM YET, AND PREDICTS DEMAND WILL CONTINUE TO DECREASE IN THE FIRST QUARTER OF NEXT YEAR. WHEN WILL THE IMPROVEMENT START? CRONK SAYS NEXT SUMMER. >> BY THE SUMMER OF NEXT YEA ASSUMING THE VACCINE ROLL OUT GOES SMOOTHLY, THE EXPECTATION IS LEISURE TRAVEL WILL BEGIN TO PICK UP AS WE HEAD INTO NEXT SUMMER. AND THEN IN SECOND HALF OF NEXT YEAR, WE’LL SEE SIGNS OF GROU BUSINESS RETURNING AND INTERNATIONAL TRAVEL RETURNING. AMANDA: CRONK PREDICTS FULL RECOVERY WILL COME IN 2023. >> LEISURE TRAVEL WILL BE NEARLY BACK TO PRE-PANDEMIC LEVELS IN 2022, BUT IT WILL TAKE LONGER TO GET GROUP AND INTERNATIONAL BACK TO THOSE LEVEL SO BY 2023, WE ARE BACK TO 9 OF 2019 LEVELS OF HOTEL DEMAND. SO ESSENTIALLY, BY 2023, WE SHOULD BE FULLY RECOVERED AND BACK TO PRE-PANDEMIC LEV
Tourism industry won't fully recover until 2023, Visit Orlando research analyst says
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Updated: 6:22 PM EST Dec 10, 2020
During its annual meeting Thursday, Visit Orlando delivered some of the most somber projections of its 36-year history. Research analyst, Daryl Cronk made an optimistic vow the tourism industry will recover fully, but not until the year 2023.“Recovery will come, people will travel, it’s part of human nature to want to come and explore new places,” Cronk said.Cronk said hotel occupancy in Orlando is currently lagging both in the state and the nation with demand for the busy holiday season down more than 50% over this time last year. He believes Orlando has not hit bottom yet and predicts demand will continue to decrease in the first quarter of next year.When will the improvement start? Cronk says next summer."By the summer of next year, assuming the vaccine rollout goes smoothly, the expectation is leisure travel will begin to pick up as we head into next summer and then in second half of next year we'll see signs of group travel returning and international travel returning,” Cronk said.Cronk predicts full recovery will come in 2023. "Leisure travel will be nearly back to pre-pandemic levels in 2022 but it will take longer to get group and international travel back to those levels. So by 2023, we are back to 99% of 2019 levels of hotel demand. Essentially by 2023 we should be fully recovered and back to pre-pandemic levels,” Cronk said.
ORLANDO, Fla. — During its annual meeting Thursday, Visit Orlando delivered some of the most somber projections of its 36-year history.
Research analyst, Daryl Cronk made an optimistic vow the tourism industry will recover fully, but not until the year 2023.
“Recovery will come, people will travel, it’s part of human nature to want to come and explore new places,” Cronk said.
Cronk said hotel occupancy in Orlando is currently lagging both in the state and the nation with demand for the busy holiday season down more than 50% over this time last year.
He believes Orlando has not hit bottom yet and predicts demand will continue to decrease in the first quarter of next year.
When will the improvement start? Cronk says next summer.
"By the summer of next year, assuming the vaccine rollout goes smoothly, the expectation is leisure travel will begin to pick up as we head into next summer and then in second half of next year we'll see signs of group travel returning and international travel returning,” Cronk said.
Cronk predicts full recovery will come in 2023.
"Leisure travel will be nearly back to pre-pandemic levels in 2022 but it will take longer to get group and international travel back to those levels. So by 2023, we are back to 99% of 2019 levels of hotel demand. Essentially by 2023 we should be fully recovered and back to pre-pandemic levels,” Cronk said.
