The hotel industry has been severely impacted by the pandemic, with business travel revenue projected to be down more than $59 billion in 2021 compared to 2019. This represents a 66.2% decrease and includes corporate, group, government, and other commercial categories. Business and group travel are the industry's largest source of revenue and are not expected to reach pre-pandemic levels until 2024. The report provides a breakdown of the projected revenue loss by state, with California experiencing the largest decrease of $9.8 billion and Hawaii experiencing the largest percentage decrease of 77.4%.
