According to CBRE's Hotel Horizons report, the nation's hotels will benefit from a relatively rapid economic recovery in 2021-2022:
CBRE sees lodging demand returning to pre-crisis levels by 2022.
A lag in ADR (average daily rate) could delay the recovery into 2023.
According to Jamie Lane, Senior Director of Research, the hotel industry is getting hit by two headwinds: an overall economic contraction and the need for social distancing.
The pace of declining occupancy and ADR is expected to flatten out by Q3-2020.
"Once social gathering restrictions are lifted, an expected return to the strong underlying economic conditions that existed before 2020 will restore economic production."