This photo taken on January 11, 2018 shows a woman walking past Marriott signage in Hangzhou in China’s Zhejiang province.
– | AFP | Getty Images
Major hotel chains are temporarily closing properties and seeing occupancy rates tumble as travelers stay at home during the coronavirus outbreak.
Global hospitality research company STR said Wednesday that for the week of March 8-14, hotel occupancy was down 24.4% to 53% year-over-year. Meanwhile, revenue per available room, a key industry metric, fell 32.5% to $63.74.
The numbers echo plunging demand for air travel and cruise ships as travel slows to a trickle. There have been more than 200,000 cases of the coronavirus so far, and governments are imposing restrictions to combat the spread. The United States border with Canada will temporarily close to “non-essential traffic” due to the coronavirus pandemic, the leaders of both countries said Wednesday morning.
“To no surprise, the hurt continued and intensified for hotels around the…