Page 10 - NBIZ August 2021

San Antonio

HOTEL INDUSTRY

RECOVERY

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