The hotel business has been a good one in recent years, as the economy has gathered strength. But there’s one area that’s been lagging — hosting corporate meeting and conferences.
Now, the hotel industry is hoping that lower corporate taxes will finally change that.
“The corporate and groups market has been sluggish and hasn’t responded as well to the economic growth,” said Lorraine Sileo, senior vice president for research at Phocuswright, a travel market research firm. “There’s definitely a lot of optimism that this is just a segment that’s waiting to improve and that gains are expected.”