NORFOLK, Va. (WAVY) — According to The Dragas Center for Economic Analysis and Policy at Old Dominion University, revenue at Hampton Roads hotels in April 2023 was 31.6% higher than it was in April 2019.
Virginia Beach leads the pack with a 41% increase in revenue compared to April 2019.
However, Northern Virginia continues to struggle to regain its footing with pre-pandemic earnings. Data indicates that revenue for hotels in Northern Virginia was 3.9% lower than it was in 2019.
“The hotel industry continues to recover in the commonwealth and has more than fully recovered in Hampton Roads,” said Professor Vinod Agarwal of ODU’s Dragas Center for Economic Analysis and Policy. “With continued increase in leisure travel and a recovery in group travel, we have seen significant improvement in the performance of the hotel industry over the 2019 levels.