Great insight in to things to come in the economy in 2020 as we continue to experience fallout form the coronavirus across all segments. CBRE states that according to Oxford Economics, the U.S. economy is already in a recession. Oxford predicts that, “the coronavirus pandemic will lead to a profound, pervasive, and persistent, but not permanent reductions in activity, with widespread cuts in social spending, severe disruptions to supply chains, and major interruptions in travel and tourism activity.” The lodging industry, experiencing profound losses, is facing two problems, the overall contraction in economic activity and the continued practice of social distancing, which discourages travel and leisure activities. This will cause a severe decline in lodging demand in the U.S., as it has in other countries. CBRE estimates that RevPAR will decline 37% in 2020, with a contraction of more than 60% in Q2.
April 9, 2020
At the beginning of 2020, the continuing trend of two decades of growth was expected in the waterpark industry. Major projects will open throughout the United States in both the indoor and outdoor waterpark categories totaling over $1 billion in investment in 2020. Fourteen new standalone waterparks and one resort with outdoor waterpark are anticipatedREAD MORE