Hotel Occupancy Trending Upward but Still Low

Hotel occupancy is increasing in southwest Missouri but it still far below the usual amount of occupancy for this time of year.

A report from the Springfield Convention and Visitors Bureau says that hotel occupancy from May 17th through May 23rd was 41.1 percent, over 42 percent lower than last year. The average daily rate was down 28.3%, demand down 41.3%, and revenue down 57.9%.

“It’s unlikely we’ll see travel reaching its previous levels until there’s a vaccine or at least good treatments for the coronavirus that set the world’s economy into a tailspin,” Tracy Kimberlin, President and CEO of the CVB, said in a news release. “With more than 100,000 Americans dead and nearly 360,000 deaths worldwide, people remain fearful and will be hesitant to travel while there’s still a risk of exposure to the virus.”

Kimberlin noted that small businesses are likely to continue to feel the strain of the downtown, with over 60 groups that worked with the CVB canceling events due to the COVID-19 pandemic. The total economic loss to the region is estimated to be $32 million.

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