The most important economic points for the hotel industry in the USA include:
Since mid-February, hotels in the U.S. have lost over $46 billion in room revenue ($400 million per day).
Operating profits of hotels on average fell by 105% compared to last year, putting these unable to pay their costs.
Around 4.8 million jobs were lost in hospitality and leisure since February.
Projected occupancy for individual hotels and hotel chains is below 20%.
The highest potential job losses in the hotel industry by state
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The highest potential job losses in the hotel industry by state
The job situation in some states is direr than in the rest of the country. According to the Oxford Economics projection, below are the rounded potential losses in the labor market:
- Arizona – 90,000
- California – 456,000
- Florida – 336,400
- New York – 238,000
- Nevada – 178,000
- Illinois – 132,000
- Pennsylvania – 105,000
- Texas – 296,000
- Georgia – 115,000
- North Carolina – 97,000
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