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.
Last week, several hospitality-focused analytical companies released data that specifically show how the coronavirus pandemic is decimating the U.S. hotel industry. The picture they paint is grim. And – though experts say they believe the industry will eventually resurge – the months ahead will be hard. In this report we review reports from STR, CBRE read more