Hotels Are Bouncing Back From Covid-19, but the Road To Recovery Looks Uneven It was no surprise that hotels were among the social distance losers during the pandemic. When lockdowns went into effect, reservations were canceled, properties shuttered, and staff sent home. With uncertainty hanging in the air, hotel profitability took a massive hit, falling 34.3% in 2020 the worst of any industry except for airlines, which fell 58.8%. [1] However, since the spring of 2020, hotel stocks have rebounded sharply on investor optimism over a faster economic reopening. Shares of Wyndham Hotels Resorts (NYSE:WH) increased 160%, for example, while Marriott International Inc.s (NASDAQ:MAR) stock rose 100% since April 1, 2020. [2] As recovery from the pandemic has accelerated in some markets, analysts have revised expectations for hotels upwards, particularly in China and the U.S. Analysts expect the industrys recovery will be uneven, however, given lingering challenges stemming from the pandemic. Leisure travel leads the way While the travel industry is showing signs of life, some notable trends taking shape will impact the financials and stock performance of many of the larger chains.