COVID-19’s Impact on the San Diego Lodging Market
Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. During the Great Recession, the greater San Diego[1] area's occupancy fell roughly six points from 70% in 2008 to 63% in 2009; this year, we forecast occupancy to drop from the 2019 benchmark of roughly 77% to 49%, reflecting a 36-point decline. At the height of the Great Recession, average rate declined from $142 in 2008 to $124 in 2009, a 12% drop; this year, we forecast ADR to fall 22% ($166 to $129).