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Article - Weekly Global Hotel Performance Trends from STR: 20-26 August 2023 - Global occupancy (excluding the U.S.) softened for the second consecutive week to 71.3% as the measure fell 1.1ppts week over week. However, global occupancy continued to see year-over-year growth (+5.5ppts). ADR increased 12% to US$149, resulting in a 21.3% gain in RevPAR to US$106.
With almost two-thirds of U.S. K-12 students back in school, hotel occupancy followed normal seasonal patterns and trended down for a fourth consecutive week. The industry lost 1.3 percentage points (ppts) from the prior week, and at 67.0%, was unchanged from a year ago but down 2.9 ppts from the same week in 2019.
The pandemic and hybrid work arrangements have generated strong demand for longer hotel stays, increasing the popularity of cost-effective extended-stay hotels and making them one of the fastest growing segments in hospitality. With higher margins and lower development costs than full-service hotels, extended-stay properties have the potential to generate higher returns on investment. As a result, banks are more likely to provide funding for what are perceived to be lower-volatility, higher-return hotels, particularly those associated with well-established brand families. We expect capital to ...
What are the best hotels in America? J.D. Power ranks the top hotels and reveals the big trends in an annual study.
Article - Extended-Stay Hotels Continue to Gain in Popularity - By Jack Levy - The pandemic and hybrid work arrangements have generated strong demand for longer hotel stays, increasing the popularity of cost-effective extended-stay hotels and making them one of the fastest growing segments in hospitality.