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U.S. Hotel Industry Takes A Hit Over Labor Day Holiday
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Business, Social Studies, Other
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9th - 10th Grade
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Hard
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The video discusses the decline in hotel bookings for Labor Day, with only 14% of rooms booked as of August 21st, compared to 41% the previous year. The American Hotel and Lodging Association reports a 65% drop in bookings compared to 2019 and does not anticipate improvement for Thanksgiving and Christmas. Currently, nearly two-thirds of hotels are operating at or below 50% occupancy, which is below the break-even point.
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