Sacks noted that there are two separate trajectories of travel propensity: business and leisure. Business trips per employee have been declining, while leisure trips per employee have been increasing. Several key data points about the travel industry were cited: - Within household age groups, there has been a remarkable shift in spending on lodging: ages 25 to 34 (+20%), ages 65 to 74 (+23%) and ages 75+ (+24%). - Seniors represented a greater share of households (42%) and lodging spending (45%) in 2015. - Travel continues to take a larger share in consumer spending. Growth from 2011 to January 2017: lodging (+41.8%), F&B (+31.2%) and air (+21.5%). - International tourist arrivals to the U.S. are growing between 3% and 4% year over year with 1.24 billion global tourist arrivals in 2016. - International exposure ranks differently across top U.S. markets: Miami (46%), San Francisco (45%), New York (44%) and Los Angeles (39%). Get the full story at HNN Read also "HDC Day One: Future is as bright as hoteliers make it" at HNN