According to the February 2021 edition of CBRE's Hotel Horizon Report, New York's hotel industry is beginning to see the light at the end of the tunnel after a year of challenges due to the global pandemic.
After preventing cruise ships from launching from U.S. ports for more than a year, the Centers for Disease Control (CDC) in Atlanta released a new timetable in the Framework for Conditional Sailing Order that may allow sailing from ports like Miami and Everglades in Florida as soon as July 2021.
Global real estate consultant CBRE is reporting this week continued rollout of COVID-19 vaccinations and additional stimulus funds in the U.S. have strengthened the foundation for the recovery of the U.S. lodging industry.
While that's down from a peak 118% year-over-year increase in September 2020, it's up significantly from a year ago and marks the eighth straight month of 80%-plus year-over-year growth.
According to global hotel consultancy HVS, insolvencies and job losses in the UK's hotel sector caused by the pandemic are likely to increase through 2021 as businesses face a very tough year ahead.
Posted on July 28, 2020
Posted on July 02, 2020