Study: $75B US revenue loss in next 12 months

The ongoing impact of the COVID-19 pandemic on both business and leisure travel will lead to a 29% decline in annual hotel occupancy over the next 12 months in the U.S., resulting in a projected revenue loss for the industry of about US$75 billion in room revenue alone, according to new research from the Magid HTL Forecast Tracker. Consumer sentiment for attending a meeting or conference over the next 12 months was the most telling, according to the data analyzed in conjunction with Horwath HTL, showing a projected decline of 22%. While a smaller percentage plan to travel in the…
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