For Americans who wish to travel, Europe is officially off limits. As of tomorrow, due to COVID Hysteria, Americans are not allowed to enter European Union nations.
On the leisure and hospitality home front, ordinarily a big business in the summer, a survey commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult found that only 44 percent of Americans are planning overnight vacation or leisure travel in 2020.
What does the hotel industry future look like? The President of ALHA, Chip Rogers, predicts that “With a sharp decline in travel demand, nine times worse than September 11 and with lower room occupancy than during the Great Depression, our small business owners are struggling to survive.”
He went on to say, “The human toll on our industry has been equally as devastating” and that “many hotels are struggling to service their debt and keep their lights on, especially those with Commercial Mortgage-Backed Securities (CMBS) loans.”
Recovery?
Then there are all the street fairs, festivals, concerts, weddings, parties, conventions, etc., which have banned by the authorities that will further drive the economy down and unemployment up.
TRENDPOST: Will equities fly higher even as the economy crashes?
As we have said, it is pure guesswork. The amounts of monetary methadone being injected into the markets and economies to artificially prop them were, and are, unpredictably unimaginable.
