U.S. Hotel Industry Takes A Hit Over Labor Day Holiday

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.

What does the American Hotel and Lodging Association say about the bookings for the holiday week compared to 2019?

What percentage of hotels are currently at or below 50% occupancy?