Despite the shellacking that hotels received—and its parent industry, tourism—from the pandemic, the beginnings of a recovery appear to be taking place.
April was a tough month across all hotel brands, but business has been on the uptick every month since then, according to a Placer.ai report. The average decline in stays in July was over 42% but, in August, that number across four major chains fell to 35.8%.
Further, at Best Westerns and Hilton Garden Inns nationwide in August, visits were down only 21% and 34.6%, respectively, year-over-year, an improvement from the month before, when visits to the chains were 30.2% and 44.2% down. That data speaks "volumes for the pent-up consumer demand for travel," the post said.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
