A staggering 9.2 million jobs could be lost in the U.S. Travel & Tourism sector in 2020 if barriers to global travel remain in place, WTTC revealed.
U.S. hotel construction pipeline remains robust
Remarkably, despite some project cancelations, postponements, and delays, there has been minimal impact on the U.S. construction pipeline. Contrary to what is being experienced with hotel operations, the pipeline remains robust as interest rates are at all-time lows.
US hotel performance for June 2020
U.S. hotel occupancy fell 42.5% to 42.2% in June, ADR declined 31.5% to $92.15 and RevPAR declined 60.6% to $38.88, according to monthly data from STR.
U.S. hotel transactions down 74% due to COVID-19
Looking ahead, we expect transaction activity to eventually pick up, while pricing will continue to decline later in the year, as investors look to acquire distressed assets at a discount.
Same-state stays, road trips and flexibility pave the way to recovery
Summer travel inarguably looks different this summer, and the latest report from Expedia.com sheds light on the emerging priorities and behaviors of Americans looking to getaway.
The shorter the better: ‘Quickie Trips’ are trending
How to be prepared, and not scared when traveling and why short “quickie” trips can have significant positive effects on one’s mental health.
U.S. economic recovery quiets as July 4 holiday causes dip in shift work
Following waning June recovery, Kronos U.S. Workforce Activity Report reveals rocky shift growth, hiring in Early July.
U.S. hotel demand not expected to fully recover until 2023
Even with improving performance already underway, U.S. hotel demand will not return completely to pre-pandemic levels until 2023, according to the latest forecast revision from STR and Tourism Economics.
$16.8 billion loss In state and local tax revenue from hotels
As a result of the sharp drop in travel demand from COVID-19, state and local tax revenue from hotel operations will drop by $16.8 billion in 2020, according to a new report by Oxford Economics released by the American Hotel & Lodging Association.
U.S. hotel results for week ending 16 May
STR data ending with 16 May showed continued modest gains in U.S. hotel performance compared with previous weeks. Year-over-year declines remain significant although not as severe as the levels recorded in April.
