(Business) – Holiday Inn-owner InterContinental Hotels announced that it expects revenue per available room to drop 80% in April as compared to last year.
They also said that the coronavirus crisis was the biggest challenge that the hotel industry ever faced.
The UK-based company stated that occupancy levels dropped to historic lows in March and April, with first-quarter global RevPAR falling 25%.
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.