The U.S. hotel industry has practically grinded to a halt in the wake of the coronavirus crisis. As Lodging Leaders shared in our previous report, Episode 260, hotel business performance has declined to unprecedented levels. Another area of the industry that the COVID-19 pandemic is impacting is hotel transactions. Properties remain on the market, but read more
Oxford Economics reported last week that the U.S. economy is in recession. The nation’s travel and tourism industry, hit hard by the global COVID-19 pandemic, is the leading cause of the decline in the nation’s GDP. In this report, the seventh in Long Live Lodging’s Special Coronavirus Report, hotel industry analysts clarify the impact the coronavirus crisis is having on business performance in the U.S. The data from China offer a glimmer of hope at the end of a long, dark tunnel.