Interview with Felix Laboy, Executive Chairman of NextGuest, on the Impact of COVID-19 on the Hospitality Industry

NextGuest | May 20, 2020

The hospitality industry is being hit hard by the COVID-19 outbreak. We’re currently looking at a projection from STR and Tourism Economics that shows significant declines across demand, occupancy, ADR, and revenue per available room (RevPar) through the end of 2020 and beyond. Additional research from CBRE predicts that it will take approximately 6-10 months for US hotel demand to recover and 12-16 months for ADR and RevPar to return to normal levels. A major concern is the impact on business from groups, meetings, and events, which makes up about 30-40% of business for many hotels. Post COVID-19, many people will continue to meet virtu...