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It will take 5 years to restore pre-virus numbers: Analysis

U.S. hotels reeling from the widespread effects of coronavirus are looking at a long, five-year slog to restore occupancies, revenues and profitability, based on a comparison with past crises and prevailing conditions done by HotelAVE. Why so long? Compounding the effects of travel restrictions and overall anxiety, U.S. hotels had already seen growth start to slide before reports of the first U.S. coronavirus cases. “The industry’s pre-COVID-19 challenges of above-average new supply and the impact of shadow supply — Airbnb and others — are new obstacles the industry did not face in prior downturns,” says Michelle Russo, CEO of the…
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