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The American Hotel & Lodging Association (AHLA) has issued a midyear report on the shape of the industry and key among the findings is...
The unemployment rate in the accommodation sector remains 330% higher than the rest of the economy, according to the American Hotel & Lodging Association.
Travel’s economic footprint in the U.S. declined by 42% last year, from $2.6 trillion in 2019 to $1.5 trillion, according to the U.S. Travel Association.
The convention business “will take a while before coming back,” said Robert Murdock, president of the Connecticut Convention & Sports Bureau. “It’s really all about safety right now, and getting the virus under control.”
“Stay in Washington, D.C. and do your job,” American Hotel & Lodging Association president and CEO Chip Rogers said.
Reopening on July 1, the 361-room/12-suite hotel is in the midst of rehiring most of the 150 employees it furloughed since closing on March 24.
Although one national forecast says that domestic travel spending will drop 40% this year, Connecticut Office of Tourism Director Randy Fiveash maintains that Connecticut's hospitality sector is “a very resilient industry,” and predicted that thousands of lost jobs will quickly be filled as the summer goes on.
New York and Connecticut’s hotel industry is projected to lose $1.3 billion and $287.1 million, respectively.
“We are starting to plan for our economic recovery and continue to look to book events over the next couple of years,” says Thomas Madden, Connecticut Convention & Sports Bureau chair and Director of Economic Development for Stamford.