{"id":1449472,"date":"2022-04-22T06:46:47","date_gmt":"2022-04-22T10:46:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1449472"},"modified":"2022-04-22T06:47:00","modified_gmt":"2022-04-22T10:47:00","slug":"hotels-projected-to-end-2022-with-revenues-still-25-lower-than-pre-pandemic-levels","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hotels-projected-to-end-2022-with-revenues-still-25-lower-than-pre-pandemic-levels\/","title":{"rendered":"Hotels Projected to End 2022 With Revenues Still 25% Lower Than Pre-Pandemic Levels"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhotels-projected-to-end-2022-with-revenues-still-25-lower-than-pre-pandemic-levels%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1449472&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>American cities lost billions of dollars in business travel revenue between 2019 and 2022 due to the ongoing impacts of COVID-19.<\/p>\n<p>The U.S. hotel industry lost more than $20 billion in business travel revenue in 2022, <a href=\"https:\/\/www.ahla.com\/sites\/default\/files\/Business%20Travel%20Top%2050%20Markets%20Data%20One%20Pager%20April%2022.pdf\">according<\/a> to analysis by the American Hotel &#038; Lodging Association and Kalibri Labs. New York City, San Francisco, Washington, D.C., and San Jose are expected to remain more than 50% down, while the overall projected revenue loss is anticipated to be 23% nationally, the study found.<\/p>\n<p>Leisure spending is expected to recover to pre-2020 levels faster than corporate, group, government and other commercial categories, which are the hotel industry\u2019s largest source of revenue, the report continued. Business travel is not expected to recover until at least 2024. <strong><a href=\"https:\/\/dailycaller.com\/2022\/03\/28\/democrat-mayor-calls-city-laughingstock-amid-crime-surge\/\">(RELATED: Mayor Eric Adams Calls New York City \u2018Laughingstock\u2019 Amid Crime Surge)<\/a><\/strong><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">BREAKING: A new report from <a href=\"https:\/\/twitter.com\/AHLA?ref_src=twsrc%5Etfw\">@AHLA<\/a> and <a href=\"https:\/\/twitter.com\/kalibrilabs?ref_src=twsrc%5Etfw\">@kalibrilabs<\/a> projects hotels will end 2022 down more than $20 billion in business travel revenue, nearly 25% below pre-pandemic levels. More here: <a href=\"https:\/\/t.co\/2kdulyXQqO\">https:\/\/t.co\/2kdulyXQqO<\/a> <a href=\"https:\/\/t.co\/Q8jqYwWobe\">pic.twitter.com\/Q8jqYwWobe<\/a><\/p>\n<p>\u2014 Chip Rogers (@ChipAHLA) <a href=\"https:\/\/twitter.com\/ChipAHLA\/status\/1516407540887826438?ref_src=twsrc%5Etfw\">April 19, 2022<\/a><\/p>\n<\/blockquote>\n<p>San Francisco lost over $1.6 billion between 2019 and 2022, the report found. New York lost upwards of $2.5 billion in the same time frame, after hosting a record-breaking 66.6 million visitors in 2019, <a href=\"https:\/\/nypost.com\/2022\/04\/20\/nyc-hotel-and-tourism-business-has-long-road-to-recovery-study\/\">according<\/a> to the New York Post.<\/p>\n<p>\u201cWe estimate that the hotel-related occupancy &#038; sales tax that the City lost in 2020 was approximately $920 million and $560 million in 2021,\u201d president and CEO of the New York City Hotel Association, Vijay Dandapani, told the NY Post. An estimated 20,000 people lost their jobs in NYC\u2019s hotel industry throughout the COVID-19 pandemic lockdowns.<\/p>\n<p>\u201cThe principal reasons are a lack of revival of business travel where the average rate is nearly two times that of a tourist guest with a longer duration of stay,\u201d he continued,\u201d Dandapani said, according to the outlet. \u201cAnother reason is the federal government\u2019s continued insistence of a 24-hour COVID test (despite a vaccination requirement) for anyone entering the US, which is a big disincentive for foreign business and tourist travel.\u201d<\/p>\n<p>While the new analysis suggests that recovery won\u2019t happen until 2024, Democratic New York Gov. Kathy Hochul\u2019s budget forecast argued that the hotel and hospitality industry would not recover until 2026, <a href=\"https:\/\/nypost.com\/2022\/01\/19\/hochul-budget-shows-nyc-hotels-tourism-and-retail-wont-recover-jobs-until-2026\/\">according<\/a> to another NY Post report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American cities lost billions of dollars in business travel revenue between 2019 and 2022 due to the ongoing impacts of COVID-19.The U.S. hotel industry lost more than $20 billion in<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1449472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1449472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1449472"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1449472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1449472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1449472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1449472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}