"The hotel industry is estimated to have missed out on more than $1.2 billion in revenue since the start of the shutdown, with about 186,000 rooms sitting empty every night, according to new research. The prolonged shutdown - the longest in US history and now in its sixth week - is estimated to cost the industry about $31 million per day in activity that would typically be generated by hotel stays."
""Every day the government remains closed, hotel operators, especially small and independent ones, face the risk of losing momentum just as travel demand typically picks up," said Milos Eric, cofounder and general manager of OysterLink, in an earlier press release. The decline in bookings is being driven by multiple factors tied to the shutdown. Thousands of flights have been canceled after the Federal Aviation Administration (FAA) ordered airlines to cut 10% of flights at 40 major US airports, disrupting both business and leisure travel."
OysterLink, using AHLA data, estimates the hotel industry missed more than $1.2 billion in revenue since the shutdown began, with about 186,000 rooms empty each night. The shutdown, now in its sixth week and the longest in US history, is estimated to cost roughly $31 million per day in hotel-related activity and amounts to about 6.7 million unbooked room-nights. Declining bookings stem from thousands of flight cancellations after an FAA-ordered 10% cut at 40 major airports, suspended federal travel programs, and hundreds of thousands of unpaid or furloughed federal workers reducing discretionary travel spending. Small and independent hotels face mounting operational and financial risks as travel demand falters.
Read at Business Insider
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