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COVID-19's Impact On The Albuquerque Lodging Market | By McKenna Luke – Hospitality Net

COVID-19's Impact On The Albuquerque Lodging Market | By McKenna Luke – Hospitality Net
hospitalitynet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hospitalitynet.org Daily Mail and Mail on Sunday newspapers.

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COVID-19's Impact on the Phoenix Lodging Market | By Michael Smithson & McKenna Luke – Hospitality Net

During the Great Recession, Metro Phoenix s
[1] occupancy fell nearly 16 points from its pre-recession peak of 68.2% in 2006 to 52.4% in 2009. However, occupancy fell from the 2019 peak of 70.5% to 47.0%
[2] in 2020, reflecting roughly a 24-point correction. Although average daily rate (ADR) declined 19% from a pre-recession peak of $124.80 in 2008 to a low of $100.94 in 2010, ADR only fell 14% in 2020, from $132.64 in 2019 to $114.44 in 2020. The impact of the COVID-19 pandemic on Phoenix has been two-fold. The first quarter is peak season in Phoenix; as such, some of the strongest months out of the year had passed prior to the onset of the pandemic. On the other hand, peak season for a majority of the top 25 markets is spring and summer. Furthermore, business- and travel-related restrictions related to COVID-19 have been less strict in Phoenix than in other markets, allowing for tourism and group business. ....

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