Key Insights into Hospitality Market Performance and Trends for July 2024

Thursday, 11 July 2024, 08:03

The July 2024 hospitality market update reveals that top US markets show a slight increase in RevPAR on a trailing 12-month basis primarily led by luxury, upscale, and upper upscale chain scales. Conversely, secondary and tertiary markets experience a decline, influenced by midscale and economy-oriented inventory. The new supply pipeline remains steady but subdued compared to historical averages, with construction costs and interest rates playing a suppressing role.
Hospitalitynet
Key Insights into Hospitality Market Performance and Trends for July 2024

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.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe