- Hotels around the world have reported extremely low occupancy rates or closures on a massive scale.
- Large hotel chains have seen their stock price plunge due to COVID-19. 
- In Europe, it was estimated that 76% of hotels were closed.
- Since February, U.S. hotels have lost an estimated $40 billion in room revenue. 
- The Bureau of Labor Statistics has reported that 7.7 million hospitality and leisure jobs have been lost since April. 

University of Michigan - Ann Arbor

Impact of COVID-19 on Tourism Industry Branches

American Hotel and Lodging Association. (n.d.). COVID-19'S IMPACT ON THE HOTEL INDUSTRY. Retrieved July 29, 2020, from https://www.ahla.com/covid-19s-impact-hotel-industry

COVID-19’S Impact on the Hotel Industry 

OECD. (2020, June 2). Tourism Policy Responses to the coronavirus (COVID-19). Retrieved July 24, 2020, from https://www.oecd.org/coronavirus/policy-responses/tourism-policy-responses-to-the-coronavirus-covid-19-6466aa20/

Tourism Policy Responses to the coronavirus (COVID-19)

- Airlines have drastically reduced or grounded their fleets.
- As of May 8, the International Civil Aviation Organization (ICAO) estimates that the fall in scheduled international passenger traffic equates to a 44-80% reduction in international passengers. 
- Airports could face a global loss of USD 97 billion.
- An uptick in economic recovery in air travel is not expected until 2021. 

Aviation

Hotels

- Food and catering service providers have been required to increase social spacing in eating establishments, limit their activity to delivery or pick up only, or shut down their activity completely. 
- In the U.S., the National Restaurant Association estimates that the industry's sales will decline by USD 225 billion from March. 
- Between 5 and 7 million jobs have been lost in the restaurant industry in the US since March. 

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