While uncertainty still lingers from the impact of COVID, a post-pandemic restructuring of travel and work is resulting in a new normal for the lodging industry. Finding Normal
Occupancy: 58.9% (-1.8%) - Average daily rate (ADR): US$158.23 (+3.9%) - Revenue per available room (RevPAR): US$93.19 (+2.0%)
U.S. hotel performance increased from the previous week but declined year over year, according to CoStar's latest data through 9 March.
Hotel demand fell 2.0% in January, while short-term rental demand rose 1.3%. Despite taking share from hotels, increasing supply has created occupancy headwinds for short term rentals causing RevPAR to contract 6.6%.
U.S. hotel performance was mostly positive year over year, according to CoStar's latest data through 2 March.
RevPAR showed modest year-over-year (YoY) growth in January, reflecting a return to pre-COVID patterns of low single-digit gains. RevPAR was lifted by a healthy ADR increase, which was partially offset by an occupancy decline. Demand across the U.S. has declined year over year for the past 10 months. Fortunately, supply increases have remained modest and are expected to remain low for the rest of the year as the pace of rooms in construction has slowed.
U.S. hotel performance showed mixed results over the previous week, according to CoStar's latest data through 24 February.
U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar's latest data through 17 February.
The Top 25 Markets showed higher occupancy and ADR than all other markets.
U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar's latest data through 10 February.