Page 11 - NBIZ August 2021

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.
resolution.
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 www.corebenefits.net
caused by Covid-19. While definite
room night bookings for 2021 totaled

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