The Hotel and Motels industry is currently grappling with the coronavirus woes. In order to mitigate the spread of the virus, companies have been adhering to temporary closures; travel restrictions; cancellation of events, conferences and meetings; social-distancing measures and other governmental regulations. Resultantly, occupancy rates and revenue per available room (RevPAR) have been negatively impacted.
Per STR, the U.S. hotel industry’s occupancy for the week ended Oct 3, 2020, came