(CNN) -
To say that Covid-19 has hurt the hotel industry, along with travel as a whole, is an understatement.
According to Hotel News Now, the news division of hotel research company STR, the sector has seen a loss of 5 million jobs since February in the United States alone.
And Zachary Sears, a senior economist at Tourism Economics, part of the research firm Oxford Economics, indicates that hotel occupancy in some cases is down 95% compared to a year ago.
"Properties have been forced to close permanently due to the financial loss they have suffered," he says.
In fact, the US hotel sector released a report on August 31 indicating that 65% of hotels remain at or below 50% occupancy.
The same report states that consumer travel is at an all-time low and only 38% of Americans say they are likely to take a leisure vacation before the end of the year.
Under normal circumstances, 70% of Americans go on vacation in any given year.
Hope with new openings
Despite the grim scenario and the continuing pandemic, there is a bright spot: From Europe and the United States to Africa, Asia and Australia, a number of new hotels from larger brands, as well as smaller owners, will open their doors this fall and in the winter of the northern hemisphere.
"The next few months will be a busy time for hotel openings," says Leo Sorcher, founder of luxury travel company Inhabit the World.
"They show a light at the end of this long tunnel."
In the United States, The Inn at the Mission San Juan Capistrano in California will open in September in the heart of downtown, near the famous 19th century church ruins.
Also in September, the artist enclave and celebrity hideaway of New Hope, Pennsylvania will see the opening of the River House luxury boutique property at Odette's.
In November, Palm Beach will have White Elephant, the second location of the well-known Nantucket resort of the same name.
In Europe, London will feature two new hotels in the autumn: The Mayfair Townhouse in Mayfair, along with The Miter Hampton Court.
In Madrid, the Mandarin Oriental Ritz is scheduled to make a striking debut in early 2021.
The list goes on and includes One & Only Desaru Coast in Malaysia, Angama Safari Camp in Kenya's Maasai Mara, and The Oval Hotel in Adelaide, Australia, on the grounds of the city's Oval Stadium.
Retarded, not dead
The River House at Odette's in New Hope, Pennsylvania, delayed its scheduled summer opening until September.
Courtesy of River House at Odette's
Most of the properties that will debut in the coming months had their original opening dates pushed back due to the pandemic, but even in a battered economy, they did not abandon their plans to move forward.
River House at Odette's was supposed to open earlier this summer instead of September.
Ron Gorodesky, the developer and managing director, said the hotel was under construction when Covid-19 struck and forced the project into a temporary shutdown.
"We are only a few months late, but we have seen a great financial loss," he says.
"We had 40 weddings scheduled this year, and most were moved to next year, while some were canceled."
But Gorodesky never thought about not opening.
"New Hope is a great year-round destination with an arts scene and amazing restaurants," he says.
"I believe in the potential of the driving market."
Hampton Court miter on the outskirts of London.
Courtesy of Miter Hampton Court
Opening a high-end hotel, something that is in short supply in New Hope, is also an incentive to stay committed to River House, according to Gorodesky.
The 36-room property has contemporary design, a Prohibition-style rooftop club, and a piano lounge with live music.
The Mayfair Townhouse in London was also delayed by a few months, while The Miter Hampton Court is on track to open in September as planned.
Sorcher says these delays are minor on the big picture and on par with the course even under ordinary circumstances.
“Vacancies are pushed all the time.
It's almost expected, ”he says.
From planning to opening
The view from the new Angama Safari Camp in Kenya's Maasai Mara.
Courtesy of Angama Safari Camp
In general, according to Stephanie Ricca, Editorial Director of Hotel News Now, hotel projects can take anywhere from 18 months to three years from planning stages to completion.
“Once a property is under construction, it will almost certainly open, so the ones that will debut this fall were already on the way,” she explains.
In the future, however, properties in the early planning stages may experience significant delays, Ricca says, or be postponed until an unknown date.
Some will be abandoned altogether.
As of June 19, according to Hotel News Now, 19 hotel projects were postponed in the United States.
"Given the economy, some hoteliers don't want to make a big financial investment or they may have trouble getting loans," says Ricca.
The industry will recover
The new One & Only Desaru Coast resort in Malaysia.
Courtesy of One & Only Resorts
In short, according to experts, the hotel industry will recover, although it is difficult to know when.
"In all likelihood, there will be a remedy for the coronavirus, which means the industry will rebound," says Tourism Economics' Sears.
"It is a matter of time, but in the meantime, hotels will continue to open."
Ricca agrees as does Inhabit the World's Sorcher.
In fact, he believes that hotels that open in today's environment have a better chance of success than usual.
"The people behind these properties have watched the pandemic and see how other hotels have handled it and what worked and what didn't," he says.
"They are in a good place to get it right."
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