Hotel Occupancy Rates Begin to Rise After Initial Impact of COVID-19 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--ResearchAndMarkets.com published a new article on the lodging industry "Hotel Occupancy Rates Begin to Rise After Initial Impact of COVID-19"

The hotel industry has been significantly impacted by the COVID-19 outbreak with many guests cancelling stays due to travel restrictions. US hotel occupancy fell by 50.2% to 35.4% during the week ending May 23rd compared to the same period in 2019. However, occupancy rates have been rising steadily since April when they reached a low of 21%. The rise in occupancy can be seen across all classes of hotels. Economy properties have seen the highest rise in occupancy but there has also been a 20% increase in occupancy among higher priced hotels.

It is expected that domestic demand for hotels will increase once travel restrictions are relaxed as consumers may look to take vacations that were postponed during the pandemic. However, demand from international travelers could take longer to return to normal. It is likely that hotels will operate under new guidelines as a result of the pandemic. These could include increased cleaning of commonly touched surfaces, touchless elevators activated by a room key and a requirement for guests to wear face masks in public areas.

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