The Pandemic Effectively Shutdown the Hospitality Market

Real Estate

It might not be a surprise to hear that the pandemic has effectively shutdown the hospitality market, but now that we were seven months into the pandemic and the travel shutdown, the impact is clear. Since March, occupancy rates have plummeted and ADR declined in step, according to a mid-year report from Integra Realty Resources. In addition, transaction volumes fell dramatically, mimicking the lowest points of transaction volumes in the previous recession.

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