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Michael Polemis and Aikaterina Oikonomou
''The Impact of Lockdown on Hotel Performance: A Difference-in-Differences analysis for the US''
( 2021, Vol. 41 No.4 )
This note investigates the impact of the national lockdown on the US hotel industry performance. A difference-in-differences (DID) methodology is applied on a daily balanced panel data set. The empirical findings reveal that the national lockdown measure adopted by the 43 US states as an integrated policy measure to stem the COVID-19 spread decreased the average daily level of total room revenues by 5.9%. on average. Our findings survive robustness checks accounting for alternative proxies of hotel performance such as the occupancy rate and the average daily revenue per room.
Keywords: Hotel performance; COVID-19; Difference-in-Differences; US
JEL: L2 - Firm Objectives, Organization, and Behavior: General
I1 - Health: General
Manuscript Received : Jan 29 2021 Manuscript Accepted : Dec 29 2021

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