Report: Nearly 500K Hotel Jobs Won’t Return by 2022
A new report released by the American Hotel & Lodging Association (AHLA) has found that while leisure travel has started to return, the hotel industry’s road to recovery from the pandemic remains long, with urban markets disproportionately impacted.
The report projects that more than one in five direct hotel operations jobs lost during the pandemic, which account for nearly 500,000 total jobs, will not return by the end of 2021. Further, the report found that hotel occupancy is projected to drop ten percentage points from 2019 levels in 2021. Hotel room revenue is also projected to be down $44 billion this year compared to 2019.
“Despite an uptick in leisure travel, midway through 2021 we’re still seeing that the road to a full recovery for America’s hotels is long and uneven. These findings show the economic devastation still facing hotel markets and underscore the need for targeted relief from Congress for hotel workers and small businesses,” said Chip Rogers, president and CEO at AHLA. “Hotels and their employees have displayed extraordinary resilience in the face of unprecedented economic challenges, but whether it’s the Save Hotel Jobs Act, fair per diem rates, or expanding the aperture on the Employee Retention Tax Credit, we need Congress’ help on the way to a full recovery. That’s why the industry is united behind our Virtual Action Summit.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.