Hotel industry: Revenues $83 billion below 2019 levels
4 weeks ago
Although hotels implemented increased safety and sanitation measures and adapted to a post-COVID world, recovery to pre-pandemic levels could take years.
The global hotel industry’s revenue plunged to $198.6 billion in 2020, a massive 46% drop year-over-year
The number of users in the hotel industry halved amid the COVID-19 pandemic
The ongoing pandemic continues causing huge disruptions to the global hotel industry. Although hotels implemented increased safety and sanitation measures and adapted to a post-COVID world, recovery to pre-pandemic levels could take years.
According to latest data, the revenues of the global hotel industry are expected to grow by 43.4% year-over-year and reach $284.7bn in 2021, still $83bn less than in 2019.