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Vinod Agarwal

Sep 20, 2022

Hotel revenues continue to outpace 2019, but only slightly

The commonwealth’s hotel industry is continuing its recovery, though the Northern Virginia market continues to be a drag on its performance, according to data from STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. The latest data show rooms sold decreased by 4.6% in Virginia through August […]

Vinod Agarwal. Photo by Mark Rhodes
Jul 21, 2022

Statewide hotel revenues continue to lag 2019

Hotel revenues in Virginia for the first half of 2022 continued to lag behind 2019, and reduced business travel is still the culprit. That’s according to data released this week from STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. Hotel rooms sold decreased by 4.6% in Virginia through June […]

Norfolk’s Glass Light Hotel & Gallery features 117 rooms and suites, decorated with distinctive glass artwork.
Apr 19, 2022

Va. hotels expect 28% drop in 2022 biz travel revenue

Virginia hotel revenue from business travel this year is projected to be down 28.3% from pre-pandemic levels, or about $674 million less than the $2.39 billion the lodging industry took in during 2019, according to a report released Tuesday by the American Hotel & Lodging Association and Kalibri Labs. Nationally, the associations forecasts a 23% […]

Vinod Agarwal. Photo by Mark Rhodes
Jan 26, 2022

Va. economic growth will slow in 2022, ODU economists predict

Virginia’s economy is likely to grow at a slightly slower pace in 2022 than it did last year, with the COVID-19 pandemic continuing to make future predictions murky, according to the 2022 Annual Economic Forecast released Wednesday by Old Dominion University‘s Dragas Center for Economic Analysis and Policy. “If we can control COVID-19, the economy […]

Mar 19, 2021

Hotel revenues down 39% in February

Virginia hotel revenues for February 2021 declined by 39% compared to February 2020, according to data released Thursday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold declined by 23%. The average daily rate (ADR) paid for hotel rooms dropped 21% to […]

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