The pandemic has had a devastating impact on the hotel industry, resulting in a loss of $111.8 billion in room revenue alone. While the industry is expected to recover in 2022, full recovery is still several years away due to the ongoing impact of business travel and meetings and events. The severity of the short-term effects of Omicron on the hotel industry is still unclear. The report provides a breakdown of the total hotel revenue, tax, and job loss by state, with California and New York experiencing the highest losses.