MIAMI – Miami-Dade County hotel and restaurants – the two largest hospitality industries in South Florida – have taken a $3.36 billion dollar hit from COVID-19, according to a new study.
The study released today by Florida International University’s FIU Chaplin School of Hospitality & Tourism Management, in collaboration with the Greater Miami Convention and Visitor’s Bureau (GMCVB), shows that from the time mandatory COVID-19-related business closures took effect in March until the end of August, the direct and indirect effects of the pandemic – including revenue loss, supply chain and business expenditures, operating expenses and the ripple effect of furloughed workers not spending on the local economy — resulted in the multi-billion-dollar loss.
