Morgan Stanley: Long-term shift to virtual meetings?
Morgan Stanley research surveyed corporate travel managers and found they now expect a 27% long-term shift to virtual meetings (versus ~22%/19% prior two surveys). US RevPAR tracked better in January/February, but this survey offsets that recent outperformance, and the EU remains weak, suggesting a continued long path to recovery. Morgan Stanley conducted an online survey of ~200 corporate travel managers between March 3-15, who represent >$7 billion of typical annual travel spend. Approximately 60% are headquartered in the US, ~20% in Europe, and ~15% in Asia/Other, and their travel budgets are allocated similarly. In general, corporate travel generates around two-thirds of…
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