TRD Insights: US hospitality construction spending was dropping before pandemic

Hotel construction spending was already on the decline across the U.S. long before the coronavirus essentially shut down the industry in late March, and paused all construction. Hotel and lodging construction spending dropped to $29.7 billion in March, from $34.2 billion over the same period in 2019, according to new U.S. Census Bureau data The Real Deal analyzed. The coronavirus pandemic has kneecapped the hotel industry, as sliding occupancy rates have forced major hospitality companies

source https://therealdeal.com/2020/05/05/trd-insights-us-hospitality-construction-spending-was-dropping-before-pandemic/