Page 11 - NBIZ August 2021
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National Economy and the Impact on   almost 367,000 as of April 30, 2021, this   San Antonio Hotel Market Factors
        Hotel Demand                         is still well below pre-Covid levels. 2022   Unlike a lot of cities that are driven
           Hotel demand on the national level   looks much better with 543,000 definite   by business demand, San Antonio is
        has been affected not only by Covid-19   room nights booked and 189,000 tenta-  driven by tourism. With visitors that
        but also by many uncertainties about   tive room nights available to be booked.   are desperate for a real vacation filling
        the future including political unrest,   However, most hoteliers expect conven-  their empty hotels this summer, San
        international travel bans, global ten-  tion activity to return to pre-Covid levels   Antonio is ‘feeling the love’ and will
        sions, economic recovery, and supply   in 2023 or 2024.                  recover faster than other Texas cities.
        chain shortages.
           With all of these uncertainties,
        what will the new normal look like?
        It is not a typical  post-recession
        recovery. We know that the world
        has changed, and things will be
        different, but it will take some time
        to fully understand its impact. The
        big question for the hotel industry
        is: When will hotel demand return to        EMPLOYER
        pre-Covid levels?                           BENEFIT SERVICES
        San Antonio Economic Factors
           San Antonio experienced a loss of
        3.7% in employment and a decline of
        3.5% in GMP in 2020 due to Covid-19.
        The five-year economic forecast by
        Oxford Economics predicts a two-
        year recovery period for employment
        and GMP of 2.9% and 6.7%, respectively,           PLAN              PAYROLL            BENEFIT
        in 2021 and 4.3% and 4.2% in 2022.           ADMINISTRATON       MANAGEMENT            PACKAGE
        Then, the forecast shows a return            Assistance and research   Get your employees   MARKETING
        to San Antonio’s  pre-Covid pattern           to keep you informed   paid quickly so you   Document
        for 2023 through 2025, indicating            and in compliance with   can get back to doing   administration of
                                                     state and federal laws.
                                                                         what your company
                                                                                             401(k) and 403(b)
        the return to a new level of normal                                  does best.      including employee
        during these years.                                                                 enrollment assistance.
           Unemployment increased from a
        record low of 2.7% in April 2019 to its
        Covid-19 peak of 13.6% in April 2020.
        It is now heading in the right direc-
        tion with a drop to 5.6% in April 2021.
           Airport passenger activity
        dropped 61% during 2020 and was
        still down 19.6% through April 2021.
        However, airlines have begun adding              CLAIMS             HUMAN              BENEFITS
        back numerous non-stop flights                MANAGEMENT          RESOURCES        EDUCATION AND
        that had been grounded during the               When a claim is   CONSULTING         CONSULTING
        pandemic. The good news is that               made, we assist in the   Develop policies and   Cra  a competitive

        international travel as of year-to-date       process, from the first   procedures, address   employee benefits plan
                                                                         recruiting strategies,
                                                                                             to recruit and retain
        April 2021 exceeds its levels for year-      filing of the claim to its   develop job descriptions.  valuable employees.
        to-date April 2019 due to the addition
        of several non-stop flights to Mexico.
           Convention activity is also critical
        to the San Antonio hotel industry. San                                  PUTTING ALL THE HEALTHCARE
        Antonio conventions declined from                                            BENEFIT PIECES TOGETHER
        almost 700,000 room nights in 2019 to                                    OFFICE       ONLINE
        167,000 in 2020 due to cancellations                                     713-647-9700
        caused by Covid-19. While definite
        room night bookings for 2021 totaled

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