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We propose a resolution of the discrepancy between the proton yield predicted by the statistical hadronization approach and data on hadron production in ultra-relativistic nuclear collisions at the LHC. Applying the S-matrix formulation of statistical mechanics to include pion-nucleon interactions, we reexamine their contribution to the proton yield, taking resonance widths and the presence of nonresonant correlations into account. The effect of multi-pion-nucleon interactions is estimated using lattice QCD results on the baryon-charge susceptibility. We show that a consistent implementation of these features in the statistical hadronization model, leads to a reduction of the predicted proton yield, which then quantitatively matches data of the ALICE collaboration for Pb-Pb collisions at the LHC.