18 February 2021
COVID-19 has had a devastating impact on hotel sales transactions in every state – except California. California’s new hotel construction in 2020 also continues at slowed pace following a record-breaking pace set in the first half of 2019.
In 2020 the total number of hotel sales in the US plummeted by 52.6%, New York State was down 62%, Texas down 54% and Florida down 48%.
California on the other hand had a slight increase in sales from 2019, up 0.3% and accounted for 28% of all of the Sales in the US in 2020, according to Atlas Hospitality’s California Hotel Sales Survey 2020 Year-End.
California hotel sales transactions were 15.5% higher than Florida, Texas, and New York States, combined.