Insights into U.S. Hotel Industry Performance Midyear 2024
Friday, 12 July 2024, 10:26
U.S. Hotel Industry Performance Overview:
A midyear analysis of the top 65 markets reveals a minor increase in RevPAR driven by occupancy and ADR growth in luxury, upscale, and upper upscale segments.
Market Trends:
- Positive: RevPAR up year over year in top chain scales
- Negative: Decline in other U.S. markets
Inflation Impact:
- Challenges: Budget-conscious consumer base affected by high inflation
- Consequences: Disproportionate impact on midscale and economy inventories
Construction activity remains stable but lower due to escalating costs and interest rates.
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.