In May 2024, the region with the highest hotel occupancy rate worldwide was Europe, at 73 percent, showing a one percent increase over the previous year. Meanwhile, the lower occupancy rates across the board in 2020 and 2021 were due to the impact of thecoronavirus (COVID-19) pandemicon ...
Although it was right about the peak, the U.S. economy recovered much faster than predicted. The unemployment rate decreased every month after the start of the pandemic—except for small, intermittent increases through May 2023. As the world recovered from COVID, high inflation took shape in t...
The Interest Rate Environment The COVID-19 pandemic had a pronounced, depressive effect on global financial markets but it wasn't just the public that was worried. The deep uncertainty about economic activity led the Federal Reserve to slash thefederal funds rateto a range of 0% to 0.25%. I...
Las Vegas is a city where resort fees play a hugely distortionary role. Hotels cut prices to rock bottom levels to fill rooms, but resort fees act as a price floor. A $35 resort fee may be half the room rate on off peak nights at a lower-tier strip hotel.Research shows these ...
Our findings also confirm that the COVID-19 pandemic resulted in a notable increase in heterogeneity in loans to utilities. We also find that borrowers in hotels, restaurants, tourism, and transport (the most affected industries) were charged with a lower spread (approximately 1.5 pp for the lo...
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