Hotel Occupancy Fell in July, Partially Due to Declines in CH Visitors
Newton, MA, September 20, 2018-Occupancy for the United States hotel industry declined in July, according to Hotel Management; this marks the first decrease in the past 12 months (-0.2% to 73.6%), fueled by a 1.9% decrease in demand.
It was the lowest level since July 2017.
“Moody’s Investor Service attributes the demand decline in part to fewer arrivals from international markets such as China, which is one of the top five markets for visitors to the U.S. Moody’s cites the current trade war between the country and the U.S. as a reason for the decrease. Air bookings from China to the U.S. are down 8.4% since the end of March (when the U.S. began imposing tariffs on China), according to ForwardKeys.”