Fitch Ratings has lowered its outlook for the global lodging sector, citing the spread of the Omicron variant and the reintroduction of travel restrictions.
Those factors combined equate to weakened recovery prospects for revenue per available room, or RevPAR, for the first half of 2022. The impact of COVID-19 on international travel will force hotel operators to rely on domestic leisure travel and the eventual return of domestic business travel, the ratings agency said in a statement.
Fitch says it now anticipates RevPAR to recover to about 70% of 2019 levels in 2022, with most of the recovery happening in the second half of the year.
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