Q1 2021 Major US Hotel Sales Survey
The spring season of 2021 has sparked optimism in the overall economy and hospitality industry as compared to this time last year.
By Daniel H. Lesser, President & CEO of LW Hospitality Advisors LLC (LWHA)
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Upon reading his obituary in the press, the American writer Samuel Clemens, known by his pen name Mark Twain, famously remarked,
"The report of my death was an exaggeration." Although there is no question that the global pandemic has adversely impacted many, the world has not ended.
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While the risks of reinstated limitations on social activity and shelter-in-place orders remain, concerns surrounding the eectiveness of vaccines on existing and unknown variants, coupled with an anti-vaxxer movement, pose the biggest risks to ending the current pandemic. With that said, the spring season of 2021 has sparked optimism in the overall economy and hospitality industry as compared to this time last year. Improving/warmer weather conditions, $1.9 trillion of stimulus, a surge in vaccinations, more states lifting business restrictions, record high personal saving rates, and positive consumer condence are all converging to create a potent mix to feed a growing U.S. economy. As the pandemic continues to abate, the lodging industry is poised to stage a strong recovery.