Q2 Ends with Signs of Recovery from Severe Downturn

  • COVID-19’s full impact on the hotel industry took hold in April with a 70% year-over-year drop in demand before rebounding slightly to close Q2 down by 60%. Supply growth fell to 1.3% from 1.5% in Q1.

 

  • Leisure & hospitality employment fell by nearly half in April before rebounding strongly in June.

 

  • Overall occupancy decreased by 60.1% year-over-year.