Vacancies and vaccines: How travelers could benefit from hotel industry struggles
With so much inventory available, rates are bound to drop, said association president and CEO Chip Rogers. "If you're looking at booking a hotel, there's no better time, because there's flexibility and the rates are low." While prices in some locations, particularly beach destinations, haven't dipped at all since 2019, most "are at historic lows," Rogers added. Hotel occupancy fell to just 23.8%, off 56.4 percentage points compared to the year prior. Total hotel occupancy for the month was just 30.9% in the Las Vegas area, compared with 85.1% in December 2019.cnbc.com
Visit Jacksonville CEO says local hotels, tourism rebounding
Michael Corrigan, the CEO of Visit Jacksonville, said hotel occupancy in the River City is in the 54% range, which he adds is better than most cities in the state and across the country. The Paycheck Protection Program was included in the CARES Act federal stimulus package approved in the spring by Congress. Those efforts peaked Friday when he lifted state business restrictions, such as a 50% indoor occupancy limit at restaurants. The national hotel association estimates the industry accounted for 201,433 jobs in Florida before the pandemic hit the state in March. Last Friday, Sheraton Vistana Resort, Sheraton Vistana Villages and Marriott Resorts, all in Orlando, updated layoff notifications to the state.