Page 7 - Upper Midscale News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 International's 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 (ADR) reached an all-time high, surpassing the previous record that was set a year ago and increasin...