Αssociated Press reports from Boston that hotels in the Boston area were hit harder by the coronavirus pandemic than just about any other major U.S. city, and hospitality industry officials said the recovery could take years.
The Boston Globe reported that the occupancy rate in Boston and Cambridge fell to less than 26% last year, driving revenue per available room — the performance measure used in the industry — down more than 80%, according to the hotel consultant Pinnacle Advisory Group.
Only New York fared worse. The area’s hotels are projected to hit 42% occupancy this year, half of what it was in 2019, while hotel revenues aren’t expected to return to pre-pandemic levels until 2025.
Read more at thenationalherald.com
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