ISHC WorldView revealed that 69% of members surveyed believe the appeal of timeshare is diminishing. With Airbnb.com now allowing hotel listings through 3rd party distribution platforms, its clear the sharing economy hasnt stopped evolving to increase their piece of the pie.
For the total year, the U.S. hotel industry is projected to report a 0.4% increase in occupancy to 66.2%, a 2.5% rise in average daily rate (ADR) to US$129.74 and a 2.9% lift in revenue per available room (RevPAR) to US$85.89. RevPAR grew at least 3.0% for each year from 2010 to 2017.
When analyzing the performance of the extended-stay hotel segment, we see a difference in the performance of the upper-priced properties in this segment versus the moderate-priced properties. Since 2010, moderate-priced extended-stay hotels have shown greater gains in revenues and profits. However, upper-priced extended-stay hotels continue to achieve premiums in occupancy, ADR, revenues, and profits.
Football fans flocking to Russia for the 2018 FIFA World Cup arent the only ones filling its growing stock of branded hotel rooms.