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 Hotels Americas Research and Hotstats.
We interview Jamie Lane, senior managing economist with CBRE Hotels research, and David Eisen, director of hotel intelligence at HotStats.
And we feature sound bites of a March 26 webinar on U.S. hotel industry performance with Jan Freitag.
Resources and Links
With hotel occupancies hovering around an average of 50 percent, owners and operators are seeking new ways to generate revenue beyond traditional overnight stays. One solution in the works is day use of hotel rooms. Hotel companies such as Red Roof, Hyatt Hotels Corp. and Hilton are promoting the practice during the COVID-19 pandemic. Ahead of the curve is HotelsbyDay.com, a day-use booking platform that is marketing hotels as the new office space. Long Live Lodging explores the unconventional use of hotels and how owners and operators can position their properties to attract day users. This is part of our ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
She Has a Deal is a hotel development competition in which all-women teams pitch their ideas to prospective investors to win $50,000 in equity toward their project. Tracy Prigmore, founder and CEO of TLTSolutions, a hotel investment group, created She Has a Deal to open doors for women interested in hotel ownership. Five teams will read more