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U.S. HOTEL PERFORMANCE has increased in the second week of September compared to the previous week, according to CoStar. However, year-over-year comparisons remained mixed. Occupancy stood at 68.5 percent for the week ending on Oct. 14, a slight uptick from the previous week's 67.8 percent, and a marginal year-over-year decline of 2.3 percent. ADR increased to $164.25, up from the previous week's $163.19, marking a 3.2 percent surge compared to the previous year. RevPAR also showed improvement, reaching $112.51, surpassing the previous week's $110.68, and reflecting a 0.8 percent rise from 2022. Among the top 25 markets, Oahu Island experienced the highest year-over-year growth in occupancy, rising by 17.8 percent to reach 85.2 percent, while RevPAR increased by 29.7 percent to $243.22.

U.S. HOTEL PERFORMANCE displayed mixed outcomes in the fourth week of February compared to the previous week, according to CoStar. While occupancy and RevPAR experienced a modest increase, ADR declined from the prior week. Occupancy increased to 62 percent for the week ending Feb. 24, up from the previous week's 59.2 percent, marking a 3.3 percent year-over-year decline. ADR decreased to $156.62 from $162.24 the prior week, reflecting a 0.3 percent increase compared to the previous year. RevPAR rose to $97.12 from $96.10 the prior week, indicating a 2.9 percent decrease compared to the same period in 2023. Among the top 25 markets, Minneapolis reported the highest year-over-year occupancy increase, rising by 4.5 percent to reach 47.8 percent.

U.S. HOTELS ARE likely to report improved RevPAR growth in the second half of the year, following a weak first quarter, according to CBRE. International tourism and other economic factors are expected to provide a boost to performance. A 2 percent increase in RevPAR growth is forecasted for 2024, down from the 3 percent estimated in February. RevPAR is now expected to grow by 3 percent for the remainder of the year, driven by international tourists, holiday travel, and limited supply growth. It is projecting GDP growth of 2.3 percent and average inflation of 3.2 percent in 2024. The performance of the lodging industry is closely tied to the strength of the economy, as there is typically a strong correlation between GDP and RevPAR growth, CBRE said in a statement.

U.S. HOTEL OCCUPANCY was down in first week of March week-over-week, according to STR. All metrics were higher than comparable time periods in the last two years. Occupancy stood at 62.8 percent for the week ending March 4, down from 64.2 percent the week before, 3 percent more than the comparable week in 2022 and 5.6 percent below the comparable week in 2019. ADR stood at $151.35 for, up from $156.51 the previous week and also up 8.9 percent and 14.1 percent over the same month in 2022 and 2019, respectively. RevPAR was reported at $95.06, down from $100.43 the previous week, and up 12.1 percent and 7.7 percent increase over the same month in 2022 and 2019. Among the Top 25 Markets, Detroit saw the highest occupancy increase over 2019, up 5 percent to 63.2 percent, while Washington, D.C., was up the most from last year, an increase of 23.6 percent to 64.1 percent. D.C. also reported the most substantial year-over-year RevPAR growth, up 52.2 percent to $113.56. Las Vegas reported the highest ADR increase at $196.65 when measuring against 2019, up 56.8 percent and an increase of 33.7 percent in 2022. Las Vegas also saw the largest jump in RevPAR over 2019, up 54.3 percent to $153.55.

U.S. HOTEL PERFORMANCE dipped in the fourth week of March compared to the previous week but showed positive year-over-year comparisons, according to CoStar. Across all key metrics-occupancy, ADR, and RevPAR-there was a decline in this period compared to the preceding week. Occupancy dropped to 65.3 percent for the week ending March 23, down from the previous week's 66.5 percent, with a 0.7 percent year-over-year increase. ADR decreased to $162.28 from the previous week's $163.21, showing a 2.5 percent climb compared to last year. RevPAR was $106.01, down from the previous week's $108.51, indicating a 3.2 percent increase compared to the same period in 2023. Among the top 25 markets, New Orleans saw the highest year-over-year occupancy increase, rising 13.6 percent to 75.5 percent.

CBRE HOTELS RESEARCH has once again revised its forecast for the second half of 2022. The revision is mainly due to strong gains in the second quarter and expectations of positive growth next year. RevPAR for the second half of the year will rise to 14.7 percent year-over-year, up from the previous projection of 13.1 percent in May, according to CBRE. The reasons for the spike are a 3.5 percentage point increase in ADR and a 2.2 percentage point reduction in CBRE's demand forecast. Second quarter RevPAR reached $98.84, up 38 percent year over-year, and an all-time quarterly high at 106 percent of 2019's level. RevPAR growth was driven mainly by ADR, up 25.5 percent, followed by occupancy, up 9.9 percent.

U.S. HOTEL PERFORMANCE persisted in its downward trend during the last week of August, influenced by seasonal patterns in contrast to the previous week, according to CoStar. However, year-on-year comparisons improved while Maui Island, Hawaii, still recovering from deadly wildfires, showed signs of recovery. Occupancy came in at 65 percent for the week ending Aug. 26, down from the previous week's 67 percent, but it showed a 0.4 percent increase compared to 2022. ADR stood at $150.23, a decrease from the previous week's $154.10, though it displayed a 1.7 percent growth compared to the same period last year. RevPAR was $97.62, below the prior week's $103.22, yet it still indicated a 2.1 percent rise from 2022. Among the top 25 markets, Las Vegas achieved the largest year-over-year occupancy increase as August ended, rising by 7.9 percent to reach 76.3 percent. Houston achieved the highest ADR at $112.08, with a 10.5 percent increase, and the highest RevPAR at $64.45, reflecting a 17.8 percent increase.

EXTENDED-STAY HOTELS reported mixed results in November compared to the broader hotel industry, as supply and demand showed gains and occupancy declined less than the total hotel industry, according to The Highland Group. However, the 2.2 percent net increase in extended-stay room supply for the month, consistent with September and October figures, represents a slight uptick compared to the average over the last 17 months. Also, relatively low ADR growth led to a modest increase in extended-stay hotel RevPAR. Supply growth stayed below 4 percent for the 26th consecutive month in November, well under the long-term average, The Highland Group said. The 13 percent increase in economy extended-stay supply and decline in mid-price segment rooms mainly result from conversions, as new construction in the economy segment is estimated at about 3 percent of rooms open compared to one year ago.

THE COVID-19 PANDEMIC did not slow Magnuson Hotels' growth as it added 80 franchise agreements for its Independent Collection in the U.S. and United Kingdom in 2021. The company said its business model and focus on local markets and dynamic pricing helped it weather the storm. Magnuson is expecting continued strong performance in 2022 for the Independent Collection, which is made up of independent hotels receiving support from Magnuson. Occupancy for the collection rose 31.3 percent and RevPAR rose 43.5 percent over 2019 levels during 2021, according to a statement from the company. At the same time, according to data from STR, U.S. total occupancy for 2021 dropped 12.6 percent, ADR dropped 4.8 percent and RevPAR went down 16.8 percent. "The pandemic has seen a shift in hotel source markets, with corporate travel and international travel as we've known it removed from hotels' options. Our teams have instead looked domestically and locally at those businesses which are key to success and solid, long-term business," said Thomas Magnuson, the company's CEO. "Local government, medical, public safety, energy, transportation, construction, government, long-term corporate. The business market is now driven by essential business travel-the must-take trips, those small and medium-sized enterprises which have been getting in their cars and hitting the road."

DRIVEN BY STRONGER-than-expected demand and moderate supply, CBRE has raised its forecast for hotel performance again this year, resulting in increased occupancy. CBRE revised its forecast for 2023 RevPAR to $97.89, up 6 percent year-over-year and an increase of $0.43 rise from the previous forecast. This positive revision is based on a 65-basis-point increase in expected occupancy compared to the previous forecast issued in February, CBRE said in a statement. Furthermore, the ADR is projected to grow by 3.7 percent in 2023, slightly lower than the previous forecast of 4.2 percent. According to CBRE Hotels Research, this is primarily due to slightly lower inflation expectations and a higher proportion of group travel and shoulder-period demand, which typically have lower rates. CBRE's baseline scenario forecast envisages an average GDP growth of 0.8 percent and average inflation of 4.6 percent in 2023. Given the strong correlation between GDP and RevPAR growth, changes in the economic outlook will directly impact the performance of the lodging industry, CBRE noted. "We are already starting to see signs that the easing of travel restrictions in Japan and China, combined with continued improvements in group and independent business demand, are bolstering demand heading into the heavy summer travel season," said Rachael Rothman, head of hotel research & data analytics at CBRE.

U.S. hotel performance has declined in the fourth week of October compared to the previous week, according to CoStar. However, year-over-year comparisons revealed positive results. Occupancy came in at 66 percent for the week ending Oct. 28, slightly lower than the previous week's 69 percent, but with year-over-year growth of 0.7 percent. ADR dropped to $160.89, down from the previous week's $165.32, yet showing a notable 3.9 percent increase from the previous year. Similarly, RevPAR saw a decrease, reaching $106.16 compared to the previous week's $114.04, but reflecting a solid 4.6 percent rise from 2022. Among the top 25 markets, Minneapolis saw the largest year-over-year increase in occupancy, rising by 12.7 percent to reach 64.5 percent.

U.S. HOTEL PERFORMANCE maintained a mixed trend compared to the previous week, in line with ongoing seasonal patterns, according to CoStar. However, there were positive year-over-year comparisons, signaling signs of recovery. Occupancy was 62.7 percent for the week ending Sept. 2, down from the prior week, but it showed a 0.2 percent increase compared to 2022, part of the seasonal pattern. ADR stood at $150.52, a slight drop from the previous week, though it displayed a 1.8 percent growth compared to the same period last year. RevPAR was $94.38, lower than the week ago, yet it still indicated a 2 percent rise from 2022. Among the top 25 markets, Minneapolis recorded significant year-over-year gains in occupancy, surging 19.1 percent to hit 74.4 percent, while RevPAR increased by 26.7 percent, reaching $101.06.

A STRONGER THAN expected performance by U.S. hotels in the fourth quarter of 2021 led CBRE Hotels Research to upgrade its forecast for the rest of 2022. CBRE now forecasts RevPAR will reach 2019 nominal levels by the third quarter of this year, one year earlier than the previous forecast. Occupancy is expected to rise 6.7 percent to 61.3 percent this year, then rise 5.2 percent to 64.4 percent in 2023. ADR is forecast to rise 10.1 percent to $133.94 in 2022 and go up 6 percent more to $141.99 in 2023. CBRE expects RevPAR to rise 17.5 percent in 2022 overall to $82.04 and then rise 11.5 percent to $91.46 in 2023. Positive trends, such as high employment and the return to the office for many workers who had been working from home contributed to the revised forecast, CBRE said. Other factors contributing to the improvement include below-average supply growth, strong domestic leisure trends, the resumption of inbound international travel and a predicted return to office later this year. However, ongoing inflation and geopolitical tensions connected to the war in Ukraine still threaten progress.

U.S. EXTENDED-STAY room supply grew by 3.5 percent in June, exceeding the average monthly increase of the past two years, according to The Highland Group. June marked the 33rd consecutive month of supply growth at 4 percent or less, with annual changes remaining below 2 percent for the past two years. However, both metrics are well below the long-term average. The growth includes the addition of Water Walk by Wyndham, a mid-priced extended-stay brand, to the database in May following its affiliation with Wyndham, the report said. The 12.8 percent increase in economy extended-stay supply, along with modest gains in midprice and upscale segments, is mainly due to conversions, The Highland Group said. New construction in the economy segment is estimated at about 3 percent of rooms open compared to a year ago. The report noted that supply change comparisons have been affected by re-branding, shifting rooms between segments, de-flagging hotels that no longer meet brand standards, and the sale of hotels to apartment companies and municipalities. The trend is likely to taper off in the second half of 2024, with the full-year increase in extended-stay supply compared to 2023 remaining well below the long-term average.

IHG HOTELS & RESORTS reported a 23 percent increase in profit from reportable segments in 2023, surpassing the $1 billion milestone for the first time. The company also noted a 16.1 percent rise in RevPAR, a 5.1 percent increase in ADR, and a 6.4 percentage point uptick in occupancy during the previous year. It anticipates returning more than $1 billion to shareholders through dividends and share buybacks this year, IHG said in a statement. "Travel demand was strong across all markets, with RevPAR up 16 percent from last year and 11 percent ahead of the 2019 pre-pandemic peak," said Elie Maalouf, IHG Hotels & Resorts' chief executive officer. "Combined with the power of our enterprise and efficient operating model, profit from reportable segments grew by 23 percent, exceeding one billion dollars for the first time, and adjusted EPS grew by 33 percent." This marks one of the company's most significant quarters for development activity, IHG said. The company reported full-year revenue of $4.62 billion, marking a nearly 19 percent increase from $3.89 billion in 2022.

U.S. REVPAR LEVELS hit a record high in the third week of July despite Hurricane Beryl's effects on the top 25 markets, according to CoStar. All metrics were up compared to the previous week, with positive year-over-year comparisons. Occupancy rose to 73.5 percent for the week ending July 20, up from 69.2 percent the previous week, marking a 1 percent year-over-year increase. ADR increased to $165.91 from $158.21, reflecting a 2.4 percent rise compared to last year. RevPAR reached $122.02, up from $109.51 the prior week, showing a 3.4 percent increase from the same period in 2023. Meanwhile, the U.S. RevPAR level reached the highest for any week on record.

APPROXIMATELY 51 PERCENT of hospitality industry professionals participating in STR's Hospitality Industry Sentiment survey expressed optimism about their business confidence over the next two years. Respondents rated their confidence at "8" or higher on a 10-point scale. Analyzing the results over the survey's first year reveals a gradual, consistent decline in confidence ratings for each time span. Meanwhile, global recession fears have diminished since the last survey, STR said. Among various industry challenges, "concerns regarding a potential recession" saw the most significant drop between the last two surveys, ranking third behind labor costs and supply issues. Energy and utility costs are slightly increasing, while supply chain challenges and group demand issues are gradually diminishing. Regarding hotel performance, outlined trends influence demand forecasting expectations, the survey said. The percentage of respondents anticipating "strong improvement" or "some improvement" is gradually declining across all three hotel demand segments. A majority of experts still foresee growth in both business transient and group demand.