As the Pandemic Halted Travel Who Really Kept Building?
Travel was halted in March 2020. Ever since, travel enthusiasts have patiently awaited word to travel the globe once more, between high lumber costs, shortages of everything under the sun, and the shutdowns, hotel developers have been hit hard.
According to Hotel Business, the United States opened 833 projects by the end of 2020. The projects included 97,203 rooms and construction stands at 5,216 projects. Of the 833 projects, upscale and upper-midscale brands accounted for 68 percent of new openings and 63 percent of new rooms built.