Results from STRs 2018 HOST Almanac indicate that U.S. hotel industry revenues topped an estimated $208 billion in 2017, which was an increase of $10 billion from 2016. The total revenue figure and a total industrywide house profit of $77 billion were each all-time highs for the industry.
This years survey found that gaining consumer loyalty is more vital than ever, with approximately three out of four (71 percent) of survey participants on average citing 'trust' as important for their purchasing decision.
A special article produced for the 2018 World Travel & Tourism Council (WTTC) Global Summit.
In April, the U.S. hotel industry reported occupancy rose 0.9% year over year to 67.9%. ADR increased 3.3% to $130.33, which drove RevPAR up 4.2% to $88.54.