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Company Grows Development Pipeline by 11% and Global RevPAR by 12%Raises Full-Year 2023 OutlookPARSIPPANY, N.J., April 26, 2023 /PRNewswire/ -- Wy...

Here’s a taste of the hotel deal and development news that Daily Lodging Report summarized in the past week, as of April 21, 2023.

Operator: Ladies and gentlemen, thank you for standing by. Welcome to the Choice Hotels Internationals Fourth Quarter and Full Year 2022 Earnings Call.

Here’s a taste of the hotel deal and development news that Daily Lodging Report summarized in the past week, as of Jan. 20, 2023.

U.S. hotel occupancy for the last week of 2022 reached 54.2%, which was the fourth highest level recorded for the comparable week over the past 23 years. Only the last weeks of 2016 (54.9%), 2015 (54.8%), and 2021 (54.3%) were higher. This year’s room demand, however, was the highest ever for the week. As compared to the three other years that matched exactly with the day of the week for Christmas and New Year’s Eve, this year’s occupancy was the second highest. Nominal average daily rate ...

As we get closer to the holidays, hotel occupancy begins to slow, and this year was no exception. U.S. occupancy for the week of 11-17 December fell to 54.5% from 59.6% in the prior week. The decrease fell in line with expectations based on prior years. All days of the week saw a week-over-week (WoW) decrease with Tuesday through Thursday seeing the largest declines at -6.5 percentage points (ppts) and the remainder of days dropping by an average of 4ppts.

The week after Thanksgiving (27 November-3 December) was somewhat typical for the U.S. hotel industry. Occupancy increased to 55.4% from 50.3% in the week prior. Room demand was up 10% week over week (WoW), which was below our expectations, but still the second highest number of rooms sold for the week after Thanksgiving during the past 23 years.

The demand index declined month over month, with contribution from most days of the week.

In what turned out to be a normal Thanksgiving week, U.S. hotel occupancy for 20-26 November was 50.4%. That was down from 52.9% a year ago and 50.6% in 2019. Nearly every market saw occupancy fall year over year despite more airline travel, which was 95% of 2019’s volume. A year ago, 89 of the 166 STR-defined U.S. markets saw occupancy above 50%. This year, 64 markets saw the same, which was close to the tally in 2019.

During the week of 16-22 October 2022, U.S. hotel occupancy was almost flat, dipping 0.4 percentage points (ppts) week over week (WoW) to 69.9%. That level was the seventh highest for this particular week since 2000 and 0.3ppts less than in 2019. The week-over-week slowdown is normal as performance for this specific week has only gone up four times in the past 23 years.