Insights into U.S. Hotel Industry Performance Midyear 2024

Friday, 12 July 2024, 10:26

The midyear review of the U.S. hotel industry highlights a slight year-over-year increase in RevPAR due to improvements in occupancy and ADR in luxury, upscale, and upper upscale segments. However, secondary and tertiary markets face challenges with midscale and economy inventories amidst a high inflationary environment. Despite a steady new supply pipeline, construction remains lower due to cost constraints.
Hospitalitynet
Insights into U.S. Hotel Industry Performance Midyear 2024

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:

  1. Challenges: Budget-conscious consumer base affected by high inflation
  2. 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.


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