For the last two years, the hospitality industry has been extremely challenged by the ebbs and flows of government lockdowns and lack of clarity on a path to recovery. This has been taxing those invested in the hospitality industry but there are signs of improvement on the horizon.

Performance metrics in 2021 were stronger than in 2020 and, over the past year, vaccines have been proven to curb the worst impacts of the virus for most people. The resort industry continued to be in high demand as consumers sought regional escapes and this is expected to continue in the near term. Prior to the impact of the Omicron variant, restaurants were getting busier, and workers were starting to return to their offices, albeit not in droves.

Domestic and international air travel started to pick up, although travel to Canada was limited due to restrictions. The busiest day for cross-border travel in December 2019 recorded 33,806 travelers, while December 2020’s high point was 1,984 – representing a 94% drop. However, the high point in December 2021 was 20,599 daily travelers – demonstrating a significant bounce-back in tourism activity, but still 39% below 2019 levels.

As vaccination programs continue, hospitalizations decline and health effects of the pandemic wane, consumer confidence is expected to return, leading to increasing travel both for business and leisure.