Despite an uptick in leisure travel, a new report released by the American Hotel & Lodging Association (AHLA) shows that the road to recovery for the hotel industry is long with 21 of the top 25 U.S. hotel markets remaining in a depression or recession. The new data shows urban hotels are still in a “depression” cycle while the overall U.S. hotel industry remains in a “recession.”
Urban markets, which rely heavily on business from events and group meetings, continue to face a severe financial crisis as they have been disproportionately impacted by the pandemic.
