Covid results in 1 billion unsold hotel room nights in 2020

Hotels are suffering greatly as a result of the pandemic, reports MSN. By the end of the year, the hotel industry in the United States will have recorded a billion unsold hotel room nights.

Based on an average daily rate of $131, hotel owners have seen about $46 billion in lost revenue. The result, industry groups warn, is that many properties will close without a new round of stimulus from the federal government.

"If there's no relief before the holidays, I don't know how many hotels will continue into 2021," said Bijal Patel, chairman of the California Hotel & Lodging Association. "Many of us are going to be on the brink of shutting down."