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Lodging Sector Update
As summer draws to a close, the U.S. recorded its second consecutive week-over-week decreases in TSA passenger output and hotel demand. Occupancy for open hotels, which had hit 50% for the first time since mid-March, has backpedaled to just over 48%. More of the same is expected with Labor Day fast approaching and more schools back in session.
STR’s sample showed an April peak of 3.5 million rooms temporarily closed due to COVID-19. Since May, there has been a strong correlation between reopenings and rising occupancy levels, with roughly 50% of the world’s open rooms filled in late August.
 
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School of Hotel Administration, Cornell University
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