Hotels

Downtown hotels have the toughest path to post-COVID recovery

Visits to downtown hotels fell sharply in August to more than 30% less than in 2019, according to a new study from Placer.ai.

Tourism in New York and San Francisco has been slow to recover from the COVID meltdowns, a phenomenon that Placer.ai analysts say could be attributed to the decline in business travel. San Francisco “relies heavily on conferences and conventions to attract domestic visitors,” the report says, “and the city still lags behind 2019 domestic tourism levels, with -10.8% of fewer national tourists in August 2021 than in the same month two years. before.”

However, New York City nearly closed the gap in every two-year visits in August and saw the strongest monthly growth in domestic tourist numbers between July and August, during peak tourist season.

The recovery in the hotel industry has been unevenly distributed across different chains, with brands like Hilton Garden Inn, Hyatt Place, Best Western and Courtyard by Marriott registering jumps of at least 5% and up to 11% from the figures for August 2019. Similarly, different categories of hotels are recovering at different rates, with monthly visits to resorts, inns, airport hotels and motels increasing by up to 14% in July. Visits across all categories fell in August, but resorts and motels still posted respective increases of about 4% year over year, while foot traffic for airport hotels and hostels recorded declines.

Research follows closely with forecasts made by the American Hotel & Lodging Association, who says Revenue from business travel is unlikely to reach pre-pandemic levels until 2024, earlier this summer. AHLA Study Says New York, Washington DC and San Francisco Are Among Markets With Longest Upcoming Recovery And Predicts Hospitality Industry To End This Year With Over $ 59 Billion Drop In Revenue of business travel compared to 2019. The industry lost $ 49 billion. of business travel revenue in 2020.

A recent AHLA investigation found that most business travelers are canceling, reducing and / or postponing their trips due to growing concerns about the Delta variant.


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