Inflation, pandemic among issues impacting traveler behavior, expert says
CHICAGO (CBS) -- This past weekend the Chicago Travel and Adventure Show showcased hundreds of dreamy destinations.
It got us thinking about the state of the hospitality industry in our neck of the woods.
Morning Insider Lauren Victory checks in with a River North hotel manager.
Todd Van Winkle tells us their outdoor plastic igloos were hot before COVID-19 flared up.
"So, when the pandemic did come into play and all the restrictions for outdoor dining, our team was well established, already set up," he said.
Much less reliable, the Godfrey Hotel's room and event bookings.
Our last interview here was before the omicron variant messed up 2021 holiday party plans. That took until Saint Patrick's Day 2022 to recover.
"Everybody was ready to come out," Van Winkle said. "We had a 600-person event upstairs, so it was fantastic. Started to see the corporate traveling change. Individuals coming, staying at the hotel, and then it just kind of flew by the rest of the year."
Pent-up demand led to a stretch of long-awaited business in the hospitality industry.
CBS News Travel Editor Peter Greenberg calls it "revenge travel."
"People didn't care about spending money because they saved up so much money during the pandemic," he said. "However, what's going to happen now?"
He predicts travel spending will "soften" because of inflation and credit card debt.
"It's still early in the year to say what's going to happen," Van Winkle said.
There's always the things you can't make up.
This holiday season and as recently as last week, it wasn't coronavirus much drama, it was the mess at the airports. Remember all the videos of stranded travelers? That had a domino effect on hotels.
"We do get some revenue loss from it because obviously some individuals are pre-paid reservations," Van Winkle said.
But don't expect Van Winkle to "ice" out those non-refundable folks.
He hopes good customer service will keep business coming.
Our travel editor suggests asking for a supervisor if you're having trouble with a refund. He also speculates that a drop in demand over the next few months could lower airfare and hotel rates later this year.