Vaccines Won't Get Hotels Back to Normal in 2021
Coronavirus-struck 2020 was a terrible year for hotel real estate investment trusts (REITs). Industry participants were down across the board, with names like Host Hotels & Resorts (NYSE: HST) down roughly 20% in the 12-month span and Hersha Hospitality Trust (NYSE: HT) off by a painful 45%. REIT Host Hotels & Resorts saw its revenues decline 84% in the third quarter of 2020.