E Point Perfect

San Diego Hotels Near Top of Industry Recovery Forecast for 2023


Omni San Diego Hotel near Petco Park
Omni San Diego Hotel near Petco Park. Photo via omnihotels.com

San Diego hotels will continue a slow recovery from the COVID-19 pandemic. At the same time, local and national industry’s performance is expected to surpass pre-pandemic levels, according to the 2023 State of the Hotel Industry Report released Monday by the American Hotel & Lodging Association.

The forecast offered many reasons to be optimistic with increases predicted in room
revenue and occupancy compared to 2019. Yet, it was clear-eyed about the challenges the
industry faces with inflation, supply chain disruptions, and staffing shortages.

“2023 will be our industry’s first step on the long road to recovery,” said Fred Tayco,
executive director of the San Diego County Lodging Association. “San Diego’s leisure
travel sector has been crucial to our local success, but we still have a long way to go to
bring back business and conference travel to what it once was.”

Despite ongoing challenges, San Diego’s recovery, in particular, has been strong compared to other major markets in the United States. San Diego was the fourth
fastest recovery of any major market in the United States in terms of gross operating
profit per available room, which is expected to increase above pre-pandemic levels.

AHLA’s semi-annual update projects that U.S. hotels will:

–Employ 2.09 million people in 2023, down from the 2.35 million people employed
in 2019.
–Generate $46.71 billion in state and local tax revenue in 2023, up from $41.11
billion in 2019.
–Increase room revenue to a projected $197.48 billion compared to $170.35
billion in 2019.
–Raise occupancy to 1.3 billion room nights compared to 1.29 billion in 2019, up
56.9 percent from the 2020 low of 318.64 million.

The San Diego County Lodging Association is a resource and advocates for
San Diego’s more than 560 hotels, motels, and boutique inns employ more than
26,900 colleagues. SDCLA was established in 1980, to serve the needs of
members and represent them at all levels of government. Visit  www.lodgingsd.com.


Source link

Related posts

Newsom Warns of ‘Economic Headwinds’ in Proposing 1% Cut in California’s Budget

Man Held on Suspicion of Murder Following Barrio Logan Standoff ID’d as Ramiro Cervantes

Turnovers Doom Aztecs at Hawaii Bowl as They Fall to Middle Tenn. 25-23

Police Searching for Bald Man in Shorts After Stabbing in the East Village

Firearms Groups Sue Over California’s Ban on Marketing Gus to Minors

Populist Mexican President Urges Twitter to Repair ‘Damage’ Done to Trump