Horwath Market Report – USA Hospitality and the Impact of Covid-19 – By Michael Cummings

By all accounts, the Covid-19 pandemic has wreaked near-term havoc on the U.S. economy in general and on the hospitality, tourism and leisure industries in particular. While the Fed Chairman and hotel industry leaders concur that there will be positive GDP growth in the third and fourth quarters of 2020, none believe we will get back to where we were quickly.

HotStats Data Reveals Signs of a Hotel Rally Emerge As COVID-19 Persists

The vertiginous drop in global hotel revenue and profit performance depicted in March data, continued its free fall in April, marked by dramatic year-over-year decreases across the operating spectrum, according to data from HotStats. The growing chasm in YOY comparison suggests that month-to-month performance measurement may be more reliable in tracking a rebound during the COVID-19 era, signs of which are slowly emerging out of China and suggestive that other global pockets are a month out from an eventual upswing.