Page 10 - NBIZ August 2021
P. 10

San Antonio

             HOTEL INDUSTRY


                                                By Randy & Patrick McCaslin

                                Covid-19 Impact on the Hotel Industry
                                   To say that Covid-19 had a significant impact on the hotel industry
                                would be the understatement of the year. Occupancy rates dropped to
                                historic lows during 2020 and are finally starting to trend upwards
                                again as 2021 continues. This trend towards recovery is partly because
                                people are desperate to get out and have some fun after being stuck in
                                their homes for more than a year. The rollout of the Covid-19 vaccine in
                                early 2021 is finally making travel possible again.
                                   As a result, leisure demand is the primary driver of hotel room nights.
                                Business demand has been slow to recover after many people learned they
                                could work from home and meet online. Group meetings and conventions
                                are being scheduled beginning in the fall of 2021, but the question
                                remains whether they will reach full capacity due to the lingering fear of
                                gathering in large numbers after Covid-19.

        10  NBIZ  ■ August  2021
   5   6   7   8   9   10   11   12   13   14   15