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STR Weekly Insights: Weekend Bookings and Non-Top 25 Markets Drive U.S. Hotel Revenue Amid Global Slowdown – Image Credit STR
U.S. hotel Revenue per Available Room (RevPAR) rose 0.9% due to strong weekend bookings and performance outside the Top 25 Markets. Despite a global slowdown, RevPAR remained positive, although mixed signals are expected for the summer season.
Weekend Performance Drives U.S. RevPAR
Despite a slow start to the week, RevPAR for U.S. hotels rose 0.9%, driven mainly by strong weekend bookings. This could be due to a shift in high school and college graduations.
Non-Top 25 Markets Boost RevPAR
Markets outside the top 25 experienced a 2.2% RevPAR gain, offsetting a 0.4% drop in the top 25 markets. Detroit, Chicago, Los Angeles, and San Diego saw significant gains, while Las Vegas and Atlanta experienced declines.
Smaller Markets Benefit from Graduations
College graduations from some of the nation’s largest universities significantly impacted RevPAR across several smaller markets. Blacksburg, Binghamton, and Champaign-Urbana saw RevPAR increases of over 100%.
Group Demand Slows Down
Luxury and Upper Upscale hotels experienced a 3.2% decline in group demand, possibly due to graduation events. However, transient demand increased by 1.4%.
Global RevPAR Declines
Excluding the U.S., global RevPAR increased by 3.2%, despite occupancy retreating by 1.2 percentage points. Japan, Mexico, France, Spain, and Canada saw RevPAR gains, while China, Germany, and India saw declines of over 10%.
Looking Ahead
Signals for the summer season are mixed. While forward bookings for the coming months are softer, AAA predicts a new record for domestic travel during Memorial Day. Internationally, performance has slowed, but American international travel continues to increase. However, this trend may decline due to the falling dollar. International travel into the U.S. has slowed, which could benefit other regions worldwide.
Discover more at STR.
STR Weekly Insights: Weekend Bookings and Non-Top 25 Markets Drive U.S. Hotel Revenue Amid Global Slowdown – Image Credit STR
U.S. hotel Revenue per Available Room (RevPAR) rose 0.9% due to strong weekend bookings and performance outside the Top 25 Markets. Despite a global slowdown, RevPAR remained positive, although mixed signals are expected for the summer season.
Weekend Performance Drives U.S. RevPAR
Despite a slow start to the week, RevPAR for U.S. hotels rose 0.9%, driven mainly by strong weekend bookings. This could be due to a shift in high school and college graduations.
Non-Top 25 Markets Boost RevPAR
Markets outside the top 25 experienced a 2.2% RevPAR gain, offsetting a 0.4% drop in the top 25 markets. Detroit, Chicago, Los Angeles, and San Diego saw significant gains, while Las Vegas and Atlanta experienced declines.
Smaller Markets Benefit from Graduations
College graduations from some of the nation’s largest universities significantly impacted RevPAR across several smaller markets. Blacksburg, Binghamton, and Champaign-Urbana saw RevPAR increases of over 100%.
Group Demand Slows Down
Luxury and Upper Upscale hotels experienced a 3.2% decline in group demand, possibly due to graduation events. However, transient demand increased by 1.4%.
Global RevPAR Declines
Excluding the U.S., global RevPAR increased by 3.2%, despite occupancy retreating by 1.2 percentage points. Japan, Mexico, France, Spain, and Canada saw RevPAR gains, while China, Germany, and India saw declines of over 10%.
Looking Ahead
Signals for the summer season are mixed. While forward bookings for the coming months are softer, AAA predicts a new record for domestic travel during Memorial Day. Internationally, performance has slowed, but American international travel continues to increase. However, this trend may decline due to the falling dollar. International travel into the U.S. has slowed, which could benefit other regions worldwide.
Discover more at STR.
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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