Hotels, Casinos and Restaurants Making a Slow Comeback

In this second post based on data from our summer webinar, we reviewed the sectors at the heart of the tourism industry - hotels, restaurants and casinos.

We had previously analyzed hotel foot traffic in multiple states. You can read our full analysis in a previous blog post here. Just to recap, in the majority of states hotel foot traffic remains well below average, pre-pandemic levels. The exception is South Carolina, where hotel traffic has returned to levels 5% above the start of the year.

Drilling down to a more specific resort, we reviewed overall foot traffic for casinos in Nevada. Many casinos opened earlier this month and the chart below shows the spike in traffic, up from zero in April and May.

Yet, the uptick remains small. Foot traffic is still over 75% down year over year.

Nevada Casinos traffic

Finally in this category we looked at hotels and restaurants in Florida. With restrictions lifted early in the state, and given its popularity as a vacation destination, hotel traffic has seen a steady rise since mid-April. As of the third week of June, traffic in Florida hotels was 43% below the start of the year. Though with case numbers rising again over the past several days we may see a reversal of the trend as we head into July.

Restaurants in Florida have followed a very similar trend line to hotels, though fell relatively less with average foot traffic only 26% below January levels.

Florida Hotels and Restaurants traffic

Stay tuned for our next post, in which we'll look at consumer discretionaries across various states and factory traffic as an indicator for recovery.

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About Advan

Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.

Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.