COVID-19’s Impact on the Portland Lodging Market

HVS | February 4, 2021

February 2, 2021 - Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. Our estimate is that local occupancy declined from the 2019 benchmark of roughly 74% to 35% in 2020, reflecting a 53-point correction, while ADR declined 25% ($137 to $103). Portland 2021–2023 Forecast Source: STR (Historical Years) and HVS (Forecast) 2020 Major Factors Virtually all significant corporate travel dissipated in 2020 because of the widespread impact of the COVID-19 pandemic. While most businesses began reopening in late May 2020, major employers such as Nike an...