Occupancy in branded hotels estimated to decline by 17-21 percentage points in 2020

According to a recent report by HVS, the overall Occupancy in branded hotel segment in 2020 is estimated to decline by 16.7-20.5 percentage points over 2019, while ADRs are estimated to decline by 7-8% for the year. As a result RevPAR, will witness a significant decline of 31% to 36.2%. The report also mentions that the hospitality industry is undoubtedly one of the biggest casualties of the COVID-19 outbreak as demand has declined to an all-time low.