Source: https://www.advan.us/blog.php
After being grounded for over a year, Americans have begun traveling again. Now, people all over the country are trading the comforts of home with the experiences of hotels, resorts, and casinos. Our research suggests that both these industries have begun to rebound nicely from the pandemic. As of June 2021, foot traffic in hotels and resorts was up 140% over June 2020. Casinos are up 243% since June 2020. Although both sectors have seen great improvements since the peak of the pandemic, however hotels and resorts remain 30% below June 2019 levels, while casinos are still down 23%.
While both sectors saw slight decreases in foot traffic between June 2020 and January 2021, hotels and resorts, as well as casinos, have experienced growth of 68% and 94%, respectively, since then. As referenced in a January 2021 Advan blog post, the holiday season helped immensely, raising traffic in Miami hotels 40%. This seemed to have kickstarted the industry as we have seen consistent upward growth since then. The difference in improvement may be correlated to the different effects that the pandemic had on each of them: as casinos were able to shorten hours or close completely, many hotels and resorts tried to remain open, which put them further into debt and often led to more layoffs. Now, not only do they have to make up for time and revenue lost, but many are also struggling to staff up as the demand for travel keeps going up.
To learn more about the data behind this article and what Advan has to offer, visit https://advanresearch.com/.
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