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

Michael Polemis () and Aikaterina Oikonomou ()
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Aikaterina Oikonomou: University of Piraeus

Economics Bulletin, 2021, vol. 41, issue 4, 2625-2634

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.

Keywords: Hotel performance; COVID-19; Difference-in-Differences; US (search for similar items in EconPapers)
JEL-codes: I1 L2 (search for similar items in EconPapers)
Date: 2021-12-29
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