Even with improving performance already underway, US hotels won’t fully recover until 2023, according to the latest forecast revision from STR and Tourism Economics. Shockingly, the organization’s research shows that it’s going t take about 3 years for the hotel industry to return to pre-pandemic levels in the US.
“The good news is that demand and occupancy continue to rise slowly each week, and while slow, recovery should continue provided the country avoids significant setbacks in its progress against the coronavirus.”
“The worst is behind us,” said Adam Sacks, president of Tourism Economics. “Recent performance has shown travel activity is picking up tentatively. Though COVID-19 will remain a defining factor through the first quarter of 2021, the outlook anticipates further gains in travel as confidence is gradually restored and restrictions are eased.”
