Localized Revenue Implications of Severe Tornado Outbreaks on the Lodging Industry [Summary]

In 2011, significant tornado outbreaks occurred throughout the United States. The property damage from these tornadoes was record breaking at over $28 billion. The impact of these tornadic events on the lodging industry, however, was not as extreme and in some instances was financially beneficial. This study evaluated the revenue implications of severe tornado events on the lodging industry. Using data provided by the National Oceanic and Atmospheric Administration (NOAA) and Smith Travel Research (STR), the lodging industries of 17 counties impacted by either EF4 or EF5 (enhanced Fujita scale) tornadoes were analyzed.