This document provides an analysis of the U.S. economic recovery with a focus on the hotel industry. It begins with an overview of U.S. recessions since 1929 and their duration. It then examines the hotel industry's performance relative to recessions, analyzing occupancy rates, average daily rates, revenue per available room, demand, and supply. Specific segments of the hotel industry, such as luxury, upper upscale, and economy are also analyzed. Graphs are provided to illustrate trends for these metrics during past recessions and recoveries. The document aims to provide insights and forecasts for the current recovery based on historical patterns.