Recovery of US Hotel Industry is 'Firmly Underway'

Costar | April 23, 2021

Recovery of US Hotel Industry is 'Firmly Underway'

March U.S. hotel performance this year looks much better than it did last year.

A full year after COVID-19 was declared a global pandemic, the U.S. is averaging administering almost 3 million vaccine doses a day, said Jan Freitag, national director for hospitality analytics at CoStar. Oxford Economics reports that gross domestic product grew by 9% in the first quarter, which has positive implications for the American travel industry.

In a year-over-year comparison, March 2021’s revenue per available room percentage change was “very positive” at 34%, he said.