Key Insights into Hospitality Market Performance and Trends for July 2024
Thursday, 11 July 2024, 08:03
Market Performance Snapshot
A midyear assessment highlights a slight increase in RevPAR in the top US markets, led by luxury, upscale, and upper upscale segments.
Trend Insights
- Revenue Growth: RevPAR is marginally up on a year-over-year basis.
- Chain Scales: Luxury, upscale, and upper upscale segments drive the performance.
- Market Variation: Secondary and tertiary markets observe a year-over-year decline.
The hospitality segment's new supply pipeline remains stable, although subdued compared to historical averages due to construction costs and interest rate impacts.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.