Hotel Industry Projected To Lose Billions By The End Of 2021

Published: Thursday, September 23, 2021 - 1:23pm

A new report shows the hotel industry across the country is projected to end the year down more than $59 billion in business travel revenue, compared to 2019 numbers.

The ongoing pandemic has not spared Arizona hotels either. 

The American Hotel & Lodging Association and Kalibri Labs is out with a new report.

It shows in Arizona, compared to 2019, the state's industry is predicted to lose more than $1.3 billion in business travel revenue. Phoenix alone is forecast to lose more than $969 million

The report says overall hotel jobs are down too, nearly 500,000 compared to 2019. 

A separate survey shows that business travel and events are not expected to return to pre-pandemic levels until 2024.

Business Tourism