Hear from Industry Leaders


Hotel CEO's share the historic damage on their businesses and our entire industry.
 

Arne   Mark  ihg
David  Peter  hdg

Since the Virus Started

  • State by State Breakdown: Job Loss Figures (download)
  • Economic Talking Points
  • As of April 8, nearly 8 out of 10 hotel rooms were empty across the country per STR
  • Since the public health issue began escalating in mid-February in the U.S., hotels have already lost
    more than $10 billion in room revenue. 
    • This figure is rapidly accelerating with hotels currently on pace to lose more than $500 million
      in room revenue per day
       based on current and future reported occupancy rates. 
    • This pace means a loss of $3.5 billion every week and will only further escalate as the situation worsens.
    • Most hoteliers are already reporting projected revenue losses of greater than 50% for the first half of the year.
  • The human toll is equally devastating with major hotel managers already reporting significant layoffs
    and furloughs.
    • Based on current occupancy estimates for the immediate future and historical employment impact rates, nearly 3.9 million total jobs have either been eliminated or will be eliminated in the next few weeks.
    • With 70% of direct hotel employees laid off or furloughed, hotel workers are losing more than $2.4B in earnings each week.
  • Individual hotels and major operators are projecting occupancies below 20% for upcoming months. At an occupancy rate of 35% or lower, hotels may simply close their doors, putting 33,000 small business at immediate risk.

By State: Testimonials, Headlines, Job Losses

Alabama AlaskaArizona - Arkansas California - Colorado - Delaware Florida Georgia - Hawaii Idaho - Illinois - Indiana Iowa - Kansas Kentucky - Louisiana - Maine Massachusetts - Maryland Michigan - Minnesota Mississippi - Missouri - Montana - Nebraska - New HampshireNew Jersey - New MexicoNew York - North Carolina - North DakotaOhio - Oklahoma Oregon - Pennsylvania - Rhode IslandSouth Carolina - South Dakota - Tennessee Texas - Utah Virginia - WashingtonWest Virginia - Wisconsin - Wyoming

State by State breakdown

WHAT'S AT STAKE?

Economic Impact Of The Hotel Industry Showcases Potential Negative Impact of Coronavirus Pandemic

Download

Oxford Economics Study on the Economic Impact of the Hotel Industry

Download

industry on the brink of collapse

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