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.
A special article produced for the 2018 World Travel & Tourism Council (WTTC) Global Summit.
With homesharing apps now a firm fixture on the smartphones of many travelers, big name hotel brands are increasingly looking to build their own presence in the home rental market - and are doing it in their own way.
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.