Are These Early Signs Of Recovery In Travel?
Travel and tourism is perhaps the segment that has suffered the most from the pandemic, not just because there were government-induced lockdowns across most of the world, but also because travelers themselves have been wary about the risk. They've also been concerned about the economy and how it will impact them.
The decline is evident from Transportation Security Administration (TSA) data that says it screened just 441,255 passengers at U.S. airports on Jun 7, 2020 compared with 2,669,860 a year ago. Encouragingly however, this is the highest it has been since the March 22 number of 454,516. March 22 was also a Sunday. So perhaps it's an early sign that travelers are returning.
STR data also shows an improving trend. While off 43.2% from the comparable period in 2019, hotel occupancy was 36.6% in the week between May 24 and May 30, the seventh consecutive week of higher demand and occupancy. Of the top 25 travel markets, New York, New York (47.6%); Norfolk/Virginia Beach, Virginia (44.2%); Tampa/St. Petersburg, Florida (44.0%); Phoenix, Arizona (42.5%); Atlanta, Georgia (40.7%); and Detroit, Michigan (40.4%) had the highest occupancy rates.