Hotels See Significant Boost In Revenue Following Marijuana Legalization

A new study exploring the impacts of adult-use marijuana legalization on the hospitality industry finds that “hotel revenue increases by 25.2% (or $63,671 monthly) due to dispensary legalization, with the effect continuing to grow even six years after legalization.”

The research article, published in the journal Production Operations and Management (POMS), draws its inferences from a review of data from Colorado, which authors say saw “a 7.9% increase in room night bookings and a 16.0% rise in daily room rates,” though impacts varied based on a number of factors.

“These findings are relevant for professionals in marketing, operations management, hospitality, tourism, and public policy,” the study says, noting that the “rapid expansion of the marijuana business presents both opportunities and challenges for the hotel industry.”

Read the full article at Marijuana Moment