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Tourism was one of the hardest-hit sectors last year due to the travel restrictions and social distancing mandates. However, thanks to the rapid rollout of the vaccines worldwide, people are regaining confidence and again engaging in leisure travel.
A stronger than expected summer leisure season this year is a clear indication of the rebounding hospitality industry. Lodging Analytics Research & Consulting (LARC) expects U.S. RevPAR to increase 49.9% in 2021 and at a 16.8% CAGR from 2020 – 2025. MAR and IHG are well-positioned to capitalize on rebounding demand.
