2020 US Forecast Upgraded: Recovery unlikely until 2024

Abstract

STR and Tourism Economics forecasted optimistic trends as the hotel industry continues to grapple with the COVID-19 pandemic. Although business travel will not resume to 2019 levels until 2024, lower-tier level properties will look to see in increase in business throughout the upcoming months. Hoteliers will remain hopeful that the COVID-19 vaccine will produce a strong Q3 and Q4 in 2021.