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U.S. EXTENDED-STAY HOTELS showed positive growth in April after a difficult first quarter, according to The Highland Group. Monthly room revenue growth was the highest in nearly a year, demand saw its strongest increase in 16 months, and ADR and RevPAR turned positive after two and four months of decline, respectively. "The performance of extended-stay hotels in April re-established the segment's long-term trend of increasing its market share of total hotel supply, demand and room revenues," said Mark Skinner, partner at The Highland Group. The extended-stay room supply grew 2.8 percent in April, slightly above the average monthly increase over the last two years, the report said. However, April marked 31 consecutive months of 4 percent or less supply growth, with annual supply change under 2 percent for two years-both metrics well below the long-term average.

U.S. HOTEL WEEKLY performance showed mixed results in the fourth week of May compared to the previous week but posted positive year-over-year comparisons, according to CoStar. Despite a slight uptick in occupancy, both ADR and RevPAR decreased week-on-week across all key metrics. Occupancy rose to 67.7 percent for the week ending May 25, up from 67.4 percent the prior week, reflecting a 1.6 percent year-over-year increase. ADR decreased to $160.67 from $163.11, yet still representing a 2.3 percent surge compared to last year. RevPAR stood at $108.73, a decline from the previous week's $109.93, but marking a 3.9 percent increase compared to the same period in 2023. Among the top 25 markets, Houston experienced the most significant year-over-year boosts in occupancy, soaring 20.9 percent to reach 74.1 percent, while RevPAR surged by 29.2 percent to $89.15. Las Vegas recorded the sole double-digit increase in ADR, climbing by 10.9 percent to $217.53.

U.S. HOTEL PERFORMANCE moved closer to pre-pandemic levels during the third week of November according to STR. It dipped, however, from the week before. Occupancy was 59.7 percent for the week ending Nov. 20, down from 61.6 percent for the week before and a slight decrease of 2.1 percent from the same period two years ago. ADR for the third week of the month was $126.66, down from $129.98 the week before and increased 1.7 percent when compared to two years ago. RevPAR decreased to $75.60 for the third week of the month from $80.02 the week before, and a slight drop of 0.4 percent for the same period in 2019. Among STR's top 25 markets, Phoenix saw the largest occupancy increase during the week under review, up 6.4 percent to 76.6 percent over 2019. Miami reported the largest ADR increase when compared to 2019, 25.5 percent to $207.72. Oahu Island, Hawaii, experienced the steepest occupancy decline from 2019, down 35.2 percent to 51.8 percent.

THE REVPAR RECOVERY of U.S. extended-stay hotels remain unchanged in August compared to July, according to consulting firm The Highland Group. However, ADR growth for mid-price and upscale segments decreased for the fifth consecutive month but remained higher than any other period before 2021. STR said that hotel occupancy gained 5.3 percent in August 2022 compared to same period last year, decreasing extended-stay hotel's occupancy premium to 12.6 percentage points compared to more than 14 points in August 2021. But the premium remains well within its long-term average range. Economy and mid-price extended-stay segments reported much faster ADR growth compared to corresponding segments during the month, according to the US Extended-Stay Hotels Bulletin: August 2022. The economy segment continued leading the RevPAR recovery compared to 2019, but demand declined 1.9 percent for the fifth consecutive month compared to August 2021 due to strong increases in ADR.

U.S. HOTEL OCCUPANCY has reached an all-time high in the fourth week of December though the numbers came in lower than the previous week, according to STR. Christmas Day occupancy was 47.2 percent, up from the previous high of 47 percent recorded in 2015. Occupancy was 44.3 percent for the week ended Dec. 25, down from 53.8 percent the week before, and down 8.7 percent when compared to 2019. ADR was $129.67 for the week, up from $121.87 the week before and an increase of 0.5 percent from 2019. RevPAR reached $57.46, down from $65.61 the week before, and dropped 8.3 percent from two years ago. According to STR, a steeper decline during the week from 2019 levels was due to the fact that Christmas fell on a Wednesday two years ago and allowed for an earlier return to non-holiday weekend levels that year. "While Omicron-related closures and service disruptions affected performance in New York City, overall U.S. occupancy was less impacted," STR said.

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 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.

U.S. HOTELS RECORDED decreased performance results in November, compared to the preceding month, according to CoStar. However, year-over-year comparisons indicated positive improvements. Occupancy decreased to 58.4 percent in November, compared to 65.8 percent in October, marking a 1.2 percent decline from the previous year. ADR decreased from $161.56 to $151.23, showing a 3.6 percent increase from 2022. RevPAR stood at $88.36, down from $106.38 in the previous month, reflecting a 2.4 percent rise from the preceding year. Among the top 25 markets, New York City achieved the highest occupancy at 84 percent, marking a 6.3 percent year-over-year increase. Markets with the lowest occupancy for the month were Minneapolis at 49.1 percent and St. Louis at 53.2 percent. Meanwhile, the top 25 markets exhibited superior occupancy and ADR compared to all others.

IHG Hotels & Resorts' first-quarter 2024 RevPAR in the Americas declined by 0.3 percent year-over-year. This was driven by a 1.9 percent decrease in U.S. RevPAR, countered by an 11.3 percent increase in Canada, Latin America, and the Caribbean combined. Occupancy dropped to 63.1 percent, down by 1.1 percentage points, while ADR in the Americas rose by 1.5 percent. Meanwhile, IHG's global RevPAR increased by 2.6 percent in the first quarter and the company opened 6,200 rooms (46 hotels) globally, marking an 11.1 percent year-over-year increase after adjusting for Iberostar, IHG said in a statement. "Global RevPAR in the first quarter of 2024 continued to grow, up 2.6 percent, reflecting the strength of our globally diverse footprint," said Elie Maalouf, IHG Hotels & Resorts' CEO. "There was an impressive performance in EMEAA, which was up nearly 9 percent. The Americas, having already recovered very strongly, was broadly flat due to some adverse calendar timing, and Greater China grew by 2.5 percent and will continue to benefit from returning international inbound travel this year. Global occupancy moved up to 62 percent and ADR increased by a further 2 percent as pricing remained robust, reflecting the complete return of leisure, business and group travel."

U.S. HOTEL PERFORMANCE saw a decline in the last week of September compared to the previous week, as expected, according to CoStar. However, there was an improvement in year-over-year comparisons, particularly in occupancy due to a favorable Rosh Hashanah calendar shift. Occupancy stood at 66.7 percent for the week ending Sept.30, marking a slight decrease from the preceding week's 68.5 percent, and a 0.8 percent year-over-year rise. ADR was $157.89, down from the prior week's $164.97, but showed a 4.6 percent increase compared to the previous year. RevPAR also experienced a drop to $105.31, compared to the previous week's $112.96, yet still represented a 5.4 percent rise from 2022.

DESPITE PROJECTIONS OF persistent inflation and a moderate economic recession, CBRE's November 2022 Hotel Horizons forecast calls for a 5.8 percent increase in RevPAR in 2023. This is up from CBRE's previous forecast of a 5.6 percent increase in RevPAR for 2023. Propelling CBRE's increased outlook for RevPAR is an expected 4.2 percent rise in ADR, driven in part by the continuation of above long-run average inflation. For 2023, CBRE is forecasting the Consumer Price Index in the U.S. to increase by 3.5 percent year over year. Inflation continues to have a mixed impact on the hotel industry, bolstering top-line growth while pressuring margins. Supply and Demand Inflation is also impacting development activity. The combination of rising construction material costs, a tight labor market, and high interest rates will serve to keep supply growth over the next five years 40 percent lower than historical trends. Instead of construction, we expect cash flows in the near term to be focused on debt reductions, renovations and remodels given the backlog of Capex that built up during the pandemic. Given its forecast for a 0.2 percent decline in 2023 gross domestic product, CBRE lowered its expectations for demand growth from 3.3 percent in their August 2022 forecasts to 2.9 percent in the November update. With the projected supply increase remaining at 1.2 percent for 2023, the net result is a reduction in CBRE's occupancy growth estimate for the year to 1.6 percent, down from the 2 percent increase previously forecast. The lowering of occupancy expectations will somewhat offset the enhanced outlook for ADR growth.

U.S. HOTEL OCCUPANCY decreased in the first week of May compared to the week before, according to STR. However, ADR increased slightly. Occupancy was 63.9 percent for the week ending May 7, down from 66.6 percent the week before and dipped 6.1 percent from 2019. ADR was $147.24 for the week, up from $146.67 the week before and up 12 percent from three years ago. RevPAR reached$94.10 during the week, up from $97.72 and rose 5.1 percent from 2019. Among STR's top 25 markets, San Diego saw the highest occupancy increase, up 5.6 percent to 74.5 percent, over 2019.

INTERNATIONAL INBOUND TRAVEL is expected to slow down in the fall after surging over the summer, according to the latest U.S. Travel Association forecast. USTA also expects it may take until 2025 for the travel segment to recover to pre-pandemic levels. Inbound travel recovery picked up in summer and reached a pre-pandemic high of 35 percent below 2019 levels in July 2022, said U.S. Travel Association. It improved from a 41 percent decrease in May and declines of more than 50 percent earlier in 2022. The latest report by Aaron Szyf, economist, USTA, said that inbound travel recovery continued from Europe and Latin America in the past few months, which was 22 percent below 2019 levels in July. Meanwhile, Asian markets declined 66 percent in July, largely due to stagnation from China and a very slow return from Japan.

HOTELS IN THE Americas performed above 2019 levels, although RevPAR is stabilizing amidst decreasing consumer travel spending, according to real estate firm JLL. This has affected resort markets heavily dependent on leisure travel. In contrast, urban travel demand is on the rise, driven by group, corporate, and inbound international travel. According to JLL's Global Real Estate Perspective for February 2024, global hotel RevPAR surpassed 2019 levels by 11.7 percent in the first 11 months of 2023. The global urban market strengthened with increased international travel and the return of business and group demand. London, New York, and Tokyo are expected to lead global RevPAR performance in 2024 as urban travel rebounds. Stabilization has weighed heaviest in resort markets, particularly in the Americas and EMEA, while Asia-Pacific continues to accelerate as intraregional travel grows following border reopenings, the report added. Foreign capital, absent since the onset of COVID, is expected to become more active over the next 12 months. Middle Eastern and Asian investors are likely to lead, with urban markets in Europe and select U.S. cities as primary recipients of capital.