The impact of COVID-19 on the hotel industry has been severe, causing significant job losses and low occupancy rates. The 10 Best Hotel Stocks to Buy Now is an article by Insider Monkey. Hotel sales in the US dropped by 48% in 2020, to $84.6 billion. The decline is expected to continue until 2022 when demand is expected to reach $145 billion. The recovery of the leisure and business travel industry started in May 2020. During this phase, hotels started to see an increase in occupancy due to the uptick in business travel. The second phase of the recovery is expected to accelerate in the second quarter of 2021. Technology will play a huge role in reviving the hotel industry during the digital era. Among the most efficient ways to do this is the use of QR codes and digital payment transactions. These systems allow guests and hospitality workers to collaborate without having to face each other in real-time. According to a report by McKinsey, budget and economy hotels have performed better than luxury hotels during the pandemic due to their long stay options and the security they offer.
On Insider Monkey’s top pick for hotel stocks right now, Choice Hotels International, Inc. is tenth. It is a leading hotel franchisor with more than 7,100 locations in the US and 590,000 rooms in the US and other countries. Pebblebrook Hotel Trust comes ninth. Service Properties Trust is a real estate investment trust that owns a diverse portfolio of hotels and other necessity-based retail assets, and it ranks 8th. As of December 2020, it has a total of 149 brands across 23 different industries. Host Hotels & Resorts, Inc. comes 7th. It is a leading hotel real estate investment trust (REIT) that owns hotels and resorts in the US. After it is Extended Stay America, Inc., a hotel operator with a total of 646 hotels in North America. Click to continue reading Insider Monkey’s original article The 10 Best Hotel Stocks to Buy Now.