People are tired of lockdowns. It’s clear from looking at Springwood’s July 2021 room revenues among its hotels open a year or more on July 1, 2019. Looking at room revenue in that set:
- Three quarters of these hotels posted July 2021 revenue better than that of July 2019
- Every property in the set came in at 97% or more of setting a new July revenue record. One actually beat its previous July record.
What does this foretell for the future? We’re through making predictions until Covid-19 is vanquished, but our investors are certainly enjoying life at the moment.
Commercial travel is gradually recovering. If that continues (and if there are no further lockdowns), we look forward to a profitable few years ahead.