Annual Hotel Occupancy Forecast to Decline 29% Over the Next 12 Months With $75 Billion in Projected Revenue Losses

Horwath HTL | August 17, 2020

Magid HTL Forecast Tracker, analyzed in conjunction with Horwath HTL, says COVID-driven declines span both business and leisure travel intentions MINNEAPOLIS, August 17, 2020 – The ongoing impact of the COVID-19 pandemic will lead to a 29% decline in annual hotel occupancy over the next 12 months, resulting in a projected revenue loss for the industry of about $75 Billion in room revenue alone. The estimate is according to the Magid HTL Forecast Tracker, analyzed in conjunction with Horwath HTL, the world’s oldest, largest, and most experienced hotel, tourism, and leisure-consulting brand. The forecast shows declines being driven...