Given the significant traction in distribution of the COVID-19 vaccines throughout the United States and general international travel restrictions, leisure travel has begun to recover in 2021 and is expected to continue increasing, with Americans seeking so-called “revenge travel” to a domestic getaway. Business travel is also beginning to show signs of recovery, and some group business related to conference attendance is returning.
The Raleigh market achieved historically high levels of economic activity and visitation in 2019. However, after the onset of the COVID-19 pandemic in early 2020, the market suffered significant declines in business activity and hotel demand, similar to most metropolitan areas across the country. How did Raleigh sustain through the height of the pandemic? What is the market experiencing as it emerges from the pandemic, and what does the future look like for this state capital?
Like elsewhere, the United States’ restaurant sector has had a tough time responding to the seemingly endless challenges posed by COVID-19. However, interesting trends are emerging.
The COVID-19 pandemic brought Boston’s hotel market to its knees. How far has the Boston hotel market fallen? How does this compare to other major metropolitan areas? What will the recovery look like?
Cincinnati experienced a banner year in 2019, with hotel performance reaching peak levels given the diverse base of lodging demand sources. However, since early March 2020, Cincinnati-area hotels have suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. Fortunately, lodging performance has improved in recent months, and significant investments throughout the region are forming a good foundation for market recovery.
Over the past year, the Albuquerque and New Mexico market have suffered unprecedented declines in demand because of the COVID-19 pandemic. These declines have been driven by more restrictive state-imposed limitations on travel and business operations, especially for hotels. As the state begins to emerge from COVID-19 restrictions, we examine the recovery outlook.
The COVID-19 pandemic has negatively affected hotels in the greater San Antonio market since early March 2020, similar to most cities in the United States. How far has the San Antonio hotel market fallen? When is group demand expected to rebound? What will the recovery look like?
Since March 2020, Boise hotels have suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. Which factors affected 2020 hotel performance, and what key elements are expected to influence hotels in the Treasure Valley’s capital? What will the recovery look like?
Following nearly a decade of revitalization and growth, COVID-19 delivered a significant blow to Milwaukee similar to what was felt in nearby urban Midwestern cities. Despite Milwaukee’s longstanding history as a manufacturing powerhouse, as well as its strong financial and healthcare sectors, COVID-19 caused hotel demand to fall by 58% and ushered in a wave of work-from-home culture and major event cancellations. Where does Milwaukee go from here, and what was the impact of event cancellations?
The Twin Cities hotel market has suffered a greater loss than that of the nation given the combined impact of the COVID-19 pandemic and civil unrest. Many hotels suspended operations between April and June, with little activity taking place in urban cores. How far has the market fallen, and what will the next few years look like?