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US Hospitality Sector: Signs of Life, Reasons for Hope - MPA

June 25, 2020 9:08 AM | Morgan Christopher (Administrator)

For hospitality properties that have survived the pandemic thus far, it’s going to take an awful lot of bookings and overpriced Toblerones to make up those shortfalls. Luckily, the first part of that equation has been improving for the last three months.

According to hotel industry data firm STR, only 22.1 percent of available hotel rooms in the U.S. were occupied in March, the low point of the crisis. Approximately 37 percent were occupied during the week ending May 30. That’s still a far cry from where occupancy rates were in May 2019, but it’s almost a 50 percent increase from March’s nadir.

According to recent research by Deloitte, Americans are slowly growing more open to staying in hotels and travelling by plane. 

For full article - https://www.mpamag.com/commercial/u-s--hospitality-sector-signs-of-life-reasons-for-hope-225547.aspx

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