Tourism has returned with a vengeance. Authorities have lifted mask and Covid testing requirements. Eager vacationers have been shrugging off higher airfares and thronging airports.
Hotels — some of the hardest-hit businesses during the pandemic — are benefiting from the travel surge. Too bad that not many investors are checking in.
In the US, occupancy rates and room revenues are nearing pre-pandemic levels, according to the American Hotel and Lodging Association. It predicts that 63 per cent of the country’s 5mn guest rooms will be full this year, up from 44 per cent in 2020 and close to the 66 per cent occupied in 2019. Room revenues should reach $188bn by the end of this year, topping the $170bn recorded in 2019 on a nominal basis.
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