Money Makers Mentor

Outlook of Distressed Hotel Industry amid COVID for 2021

The leisure and hotel sectors continue to be among the industries most affected by the raging COVID-19 pandemic. Social-distancing requirements, travel restrictions, and consumer wariness remain critical factors for reduced demand and slow recovery.

The lodging industry in particular continues facing unprecedented challenges.

In light of the recent COVID surges in Mexico and the Caribbean, Canada announced its own measures on Jan. 29 to suspend flights to these destinations through the end of April. Many hotel operators in the region are expected to suffer the economic effect of the new restrictions. 

Hotels and resorts in Florida — one of five U.S. states with over one million total cases — are no exception. Multiple hotel operators in Miami, Orlando, and other popular touris…

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