Hotel, travel, and tourism were among the first industries hit hard by the Covid-19 Pandemic. If hotels aren’t closing down, they are losing capital, and as a result, have been cutting down on staff and other costs to keep business afloat. Every aspect of the hotel and tourism industry is being affected, from the reception desk to the kitchen.
The WFAA website has published an article with comprehensive numbers on October 1st, in it they say:
“According to new statistics from the American Hotel and Lodging Association (AHLA), of the 145,617 total hotel jobs in Texas, 55,480 are gone. That’s the fourth most of all 50 states. Texas has also seen 5,528 hotels foreclose or close during the pandemic. A September report from AHLA also says that four out of 10 hotel employees are still not working and almost 65% of hotels remain at or below 50% occupancy.”
The Dallas tourism industry projection for the end of the year isn’t looking too optimistic either according to an article published by D Magazine on July 27th, in it they say:
“By year-end 2020, Dallas hotels are forecast to see a nearly 60 percent decrease in revenue generated per available room, which is worse than the national projection of a 51.9 percent decline, according to a recent report by CBRE.”
The Dallas hotel industry is also not doing so well with 55,480 of the 145,617 hotel jobs gone. That’s almost 40% of the whole industry. 38.1% to be completely accurate. Despite the grim numbers, there is still hope that the Dallas hotel and tourism industry will recover by next year, or the year after at worst, as with most industry projections expecting to recover as the pandemic slows down.