A study by Florian Zach, associate professor in the Virginia Tech Howard Feiertag Department of Hospitality and Tourism Management, part of the Pamplin College of Business, has discovered that in Colorado, average monthly hotel revenue increased by 25% due to marijuana legalization. This occurred between 2014, when marijuana was legalized in Colorado, and 2019, the period analyzed in the study. The increase in revenue was attributed to higher room bookings and increased daily room rates.
Hotel revenues are reaching a new high in Colorado
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