Vacancy.
Photo: Noam Galai/Getty Images/2020 Noam Galai
All Acoss America, High-Profile Hotels and Resorts Have Shut Down: The Las Vegas Strip Is Closed, As are all the hotels at walt disort and many iconic City Like the Marriott Marquis in Times and the Beverly Wilshire in Beverly Hills. Str, A Leading Provider of Data on the Hotel Industry, Estimates that 665,000 of the 5.4 million Hotel Rooms in the US Out of Service as of April 9. While that is a huge number of closes, it also means remain open and avilaable for rent. In Particular, Lower-End Hotels to Still Be Open, and they have more guests in say you might expert.
Of Course, Few Hotels Are busyby Normal Standards. Str Says US Hotels Avreaged 22 Percent Occupied During the Week Ending April 4. The average hotel-room rate that wek $ 76.51, 41 Percent Lower than the Same Week Earlier. But that drops only partly reflects price cuts by hotels. It also reflects the fact that Occupancy at Luxury and “Upper upper upscale” hotels has fallen into the high singles, while Economy Hotels – Think Brands Like Inn and Motel 6 – Have Les Business, With Aviffan Occupancy Holding Around. That is, the average rate People are paying to stay in hotels are down Because, on Average, People are station in less-fancy hotels.
The Much Sharper Drop in Occupancy at the Top of the Market Makes Sense. WHO STAYS AT HIGHER-End Hotels and Resorts? Vacationers, White-Collar Business Travelers, Conference and Wedding Atthemes-All Travel Categories that have gone essentily to zero. Why will People Stay at Higher-End Hotels and Resorts? In Significant Part, to Enjoy Amenities Like Restaurants, Pools, and Spas, which are necessarily Closed. And how People get to higher-end hotels and resorts? In General, The Higher A Hotel Price Point, the Likelier its Customers are to Travel there by Air, which Few People Are Currently Doing.
More economical hotels are LOING BUSINESS, TOO – LOTS OF PEOPLE STAY AT MOTEL 6 ON VACATIONS OR ON THE KINDS OF BUSINESS TRIPS Nowing Canceled – But have other uses that are the are Holding up Better. Truckers are Still on the Road. Some First Responders Need a Place to Stay Near Where they are working. And the crisis has CREATED A New Category of Hotel Business: People Staying in Hotels in Order to Achieve Physical Separation from Others in their Household. IT MAKES SENSE THAT People Who Have a Virus-Relay Reason to Stay Out of the House WOUL MAKE FRUGAL ABOUTS: THEIR STATES MAY BE LONG, HOUSEHOLDS FOLLOWING UNCERTAINTY, AND WHY FOR A AMENITIES YOU CAN’T USE?
“It”s Mostly Local,” Said Far Mohan, The General Manager of the Holiday Inn Express JFK Airport, we are as asced who’s staying in his hotel days. “Maybe someone in the family wants to quarantine or stay away from family. Some People are Stack from the Airport, Missing Connecting Flights they ARIVE AIRPORT AND THE CONNECTING FLOWER IS CANCELED.”
Acciting to str, the hotels around jfk make up the fourth-beest-performing hotel submarket in the whole country, with 44 Percent Occupancy for the Week Ending April 4. days.) Airline Customer Volumes Are Way Down, Flight Crews Still a Place to Stay, and the Sharp Reduction in Flight Schedules Passengers Trying to Enter or Leave the Country Via Jfk Are More Likely to Need to Stay Overnight. The Least-OCCUPIED Hotel Marks in America are in the Florida Keys and Hawaii-Places that Have Strongly Discouredd Visitors and Where Hotels Are Almost Entirely Dependent on Tourism. Hotels in the western part of maui were just 3 percent occupied the week before Last, accorting to st.
The Emploment Bloodbath in hotels will be much worse than it looks from the Large Fraction of Hotel Rooms that Remain Avilaable for Rent. HAVE hotels that Remain Open are drastically reduced staffing: waiters and bartenders and cooks arenmed, and fewer guests means demand for core hotel functions like Housekeeping. Hotelnewsnow Provides One Stark Example of How Deep the Staff Can be at Hotels that are Staying Open: Revmax hospitality, which manages five us hotels, is keping all of the saying but has cut staffing from 500 Employees to just 45. And a substantive minority and managers have decomed it isn’t worying open with a substantially Reduced staff and have closed Altogether.
Remarkably, IT COULD EU WORTS. Str Says Europe’s Hotels Are Just
8 Percent Occupied and China’s Bottomed Out at 10 Percent Occupied in February. But Significant Stay-Aat-Home Restrictions have already swept over nearly the whole country, It’a likely we are at the bottom level of hotel occupancy in the us during this Crisis. The Key Question for the Industry and Its Workers – and for Americans Who Wood Like to Traveling – Is How Long the Clives Will Persist, and Whether Americans Businesses and Families will have the financialness to stay in hotels.
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