New Jersey’s business travel hotel revenues have dropped by 78% between 2019 and 2021, twelve points behind the national average, and are likely to fall more than $1.9 billion this year, according to a new survey conducted by the American Hotel and Lodging Association released this morning.
As a result of the Covid pandemic, New Jersey’s hotel revenues that earned $2.5 billion in 2019 are now projected to be $543.7 million in 2021, according to the survey.
“While some industries have started rebounding from the pandemic, this report is a sobering reminder that hotels and hotel employees are still struggling,” said Chip Rogers, the trade group’s president. “Business travel is critical to our industry’s viability, especially in the fall and winter months when leisure travel normally begins to decline. Continued COVID-19 concerns among travelers will only exacerbate these challenges. That’s why it’s time for Congress to pass the bipartisan Save Hotel Jobs Act to help hotel employees and small business owners survive this crisis.”
Nationally, that mean a loss of nearly 500,000 jobs.
In New Jersey, the hotel association says that the hospitality industry has lost 12,392 jobs since 2019 but was down as many as 20,000 in 2020.
A poll released by the AHLA on August 31 indicated that 67% of business travelers are reducing their travel as Covid cases increase.
The survey was conducted by Kalibri Labs.