Hospitality
Hospitality
Hospitality
Global Impact: 2020 and Beyond
- More than 670,000 hotel industry operation jobs and nearly 4 million hospitality jobs were lost in 2020 due to the pandemic. And hotel room revenue dropped to $84.6 billion.
 SanoWave-10 |
U.S. Restaurant Industry in 2020
- In reference to a pre-pandemic sales estimate of 2020, U.S. Restaurant Industry finished $240 Billion less than anticipated.
- The COVID-19 pandemic also caused more than 110,000 closures of restaurants.
- The entire restaurant industry had to sustain $240 billion in losses by the end of 2020.
COVID-19: Hotel Closures & Additional Jobs Loss in 2020
Key Figures
Total 2019 Related Jobs |
2,341,271 Employees |
Total 2020 Hotel Related Jobs |
1,668,955 Employees |
Hotel Closures |
57,180 |
$16.8 BILLION LOSS IN STATE AND LOCAL TAX REVENUE FROM DROP IN HOTEL OPERATIONS AND OCCUPANCY
Lodging
A sustained shutdown of MGM Resorts properties in the wake of COVID-19 contributed to a second quarter operating loss of $1 billion.
Caesars Entertainment Inc. is putting its losses in 2020 at more than $2 billion.
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"“With the impact to the travel industry nine times worse than September 11, the human toll of this public health crisis has been absolutely devastating for the hotel industry. Hotels were one of the first industries affected by the pandemic and will be one of the last to recover. "
President/CEO of AHLA, Chip Rogers
Reviving the Industry
With GermScan,
This unprecedented step has had huge financial implications for many professional teams, but we believe through our partnerships, it will thrive even more.
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