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The Impact of Lockdown on Hotel Performance: A Difference-in-Differences analysis for the US

Author

Listed:
  • Michael Polemis

    (University of Piraeus)

  • Aikaterina Oikonomou

    (University of Piraeus)

Abstract

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.

Suggested Citation

  • Michael Polemis & Aikaterina Oikonomou, 2021. "The Impact of Lockdown on Hotel Performance: A Difference-in-Differences analysis for the US," Economics Bulletin, AccessEcon, vol. 41(4), pages 2625-2634.
    • Handle: RePEc:ebl:ecbull:eb-21-00113
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    File URL: http://www.accessecon.com/Pubs/EB/2021/Volume41/EB-21-V41-I4-P227.pdf
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    More about this item

    Keywords

    Hotel performance; COVID-19; Difference-in-Differences; US;
    All these keywords.

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • I1 - Health, Education, and Welfare - - Health

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