STR and Tourism Economics project the U.S. hotel industry will report a 50.6% decline in revenue per available room (RevPAR) in 2020 due to COVID-19
In his lecture Florian Bauhuber talks about the future of tourism and the current situation regarding AI.
The lodging sector will face two headwinds: a contraction in overall economic activity and the need for social distancing, which encourages staying at home or in settings with few other humans; and not traveling. This will cause a severe decline in lodging demand in the U.S., as it has in other countries. CBRE estimates that RevPAR will decline 37% in 2020, with a contraction of more than 60% in Q2.
This sentiment survey was conducted by Horwath HTL Singapore, in conjunction with the SHA (Singapore Hotel Association) to gauge the initial impact of the COVID-19 pandemic.
Ontario saw double-digit declines across the three key performance metrics: occupancy (-65.1% to 21.7%), ADR (-18.1% to CAD120.77) and RevPAR (-71.4% to CAD26.22)
New York, New Yorks hotel occupancy drops to 16.8 percent
This sentiment survey was conducted by Horwath HTL Indonesia, in conjunction with the PHRI (Indonesian Hotel & Restaurant Association) to gauge the initial impact of the COVID-19 pandemic.
Daily occupancy in the country was as high as 65.3% on 26 February and had been positioned above 30% through 12 March, according to STR data
Central/South America hotel occupancy fell 2.1% to 58.8% in February, but a 9.7% ADR increase to $93.60 pushed RevPAR up 7.4% to $55.04.
Asia/Pacific hotel occupancy decreased 37.7% to 41.2% in February, and despite a 1.9% ADR increase to $107.35, RevPAR dropped 36.5% to $44.27.