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U.S. HOTEL PERFORMANCE dropped in the first week of January from the prior week, although year-over-year comparisons showed improvement, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, all declined at the start of the New Year compared to the previous week. Occupancy was 46.8 percent for the week ending Jan. 6, down from the previous week's 50.1 percent and reflecting a 0.7 percent year-over-year decrease. ADR fell to $152.17, compared to the prior week's $163.58, showing a 7.2 percent increase from the previous year. RevPAR decreased to $71.28 from the prior week's $82.1, but rose 6.4 percent from the corresponding period in 2023. Among the top 25 markets, New Orleans saw the largest year-over-year increases in each of the three performance metrics. Its occupancy was up 36.5 percent to 61.2 percent, ADR was up 43.5 percent to $211.90 and RevPAR rose 95.9 percent to $129.62. The market's performance was boosted by the Sugar Bowl, FAN EXPO New Orleans and multiple Mardi Gras parades.

BY THE FOURTH quarter of last year, group business in 10 of the top markets in the U.S. had recovered 110 percent compared to the same time in 2019, according to the Hospitality Group and Business Performance Index from Knowland and Amadeus. The top 20 markets have achieved 100 percent of 2019 levels of occupancy and ADR, with 10 surpassing 110 percent or more. Group business reached the 110 percent health index in the fourth quarter because it used 95.5 percent of the group rooms sold in 2019, coupled with a 14.8 percent increase in ADR, according to the index. Overall growth for the year 2023 stood at 103 percent, with 92.5 percent of group rooms sold in 2019 and an accompanying average rate increase of 11.7 percent. Meetings and event business rebounded to 91.9 percent in the fourth quarter compared to 2019, with an end-of-year recovery rate of 91.2 percent. The volume of smaller groups led to stability in the market, according to Knowland. Currently, 70 percent of events have 200 attendees or less and smaller meetings, those with less than 25 attendees, saw the most growth, experiencing a 19 percent increase since 2019.

U.S. HOTEL PERFORMANCE improved in the fourth week of January compared to the previous week, according to CoStar. However, year-over-year comparisons remained mixed, with key metrics like occupancy, ADR, and RevPAR experiencing an increase compared to the preceding period. Occupancy came in at 56.2 percent for the week ending Jan. 27, up from the previous week's 52.2 percent but down 0.3 percent year-over-year. ADR increased to $149.76 from the prior week's $142.27, a 5.1 percent rise from the previous year. RevPAR rose to $84.13 from the prior week's $74.31, reflecting a 4.8percent increase compared to the corresponding period in 2023. Among the top 25 markets, Las Vegas exhibited the highest year-over-year growth across all key performance metrics: a 28.9 percent increase in occupancy to 83.4 percent, a 46.3 percent rise in ADR to $228.37, and an 88.5 percent growth in RevPAR to $190.42. This performance surge was attributed to the SHOT Show and World of Concrete events.

U.S. EXTENDED-STAY HOTEL room revenues increased by $1.1 billion in 2023, similar to 2018 and 2019, though with a lower relative gain due to a larger room base, according to The Highland Group. All three extended-stay segments reported record-high room revenues in 2023, with the upscale segment leading despite previously lagging behind the pandemic recovery. The 6.1 percent increase in extended-stay hotel revenues outpaced the corresponding 5.5 percent gain reported by STR/CoStar for the overall hotel industry, the report said. However, extended-stay hotel supply experienced its smallest annual increase on record in 2023, at just 1.8 percent. Factors such as re-branding, de-flagging of non-compliant hotels, and sales to other sectors influenced supply fluctuations, a trend expected to persist into the first half of 2024, particularly with older extended-stay hotels remaining on the market. The report also highlighted a 6.6 percent increase in economy extended-stay supply, alongside modest gains in mid-price and upscale segments, primarily driven by conversions. New construction in the economy segment is estimated at around 3 percent of rooms open compared to one year ago.

APPROXIMATELY 70.9 MILLION U.S. travelers are expected to journey 50 miles or more from home over the Independence Day holiday, according to the latest AAA forecast. For the first time, AAA considered the entire week of July 4th, plus the Saturday before and the Sunday after the holiday. This year's projected number of travelers marks a 5 percent increase from 2023 and an 8 percent increase from 2019. "With summer vacations in full swing and the flexibility of remote work, more Americans are taking extended trips around Independence Day," said Paula Twidale, AAA Travel's senior vice president. "We anticipate this July 4th week will be the busiest ever with an additional 5.7 million people traveling compared to 2019." AAA estimated a record 60.6 million people will travel by car over Independence Day week, an increase of 2.8 million from last year. This year's number also surpasses the 55.3 million who traveled by car over July 4th week in 2019.

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Occupancy was 62 percent for the week ending April 16, down from 66.4 percent the week before and down 5.6 percent from 2019. ADR was $147.25 for the week, down from $150.45 the week before and up 14.4 percent from 2019. RevPAR reached $91.25 during the week, down from $99.93 the week before and up 8 percent from three years ago. Among STR's top 25 markets, Tampa saw the highest occupancy increase over 2019, up 3.2 percent to 76.6 percent. Phoenix posted the largest ADR increase in the week, up 33.8 percent to $189.16, over 2019.

NOBLE INVESTMENT GROUP has acquired two hotels in National Landing, a mixed-use development in Arlington, Virginia, near Washington, D.C. The acquisitions come days after the Atlanta-based company, led by Mit Shah as CEO bought two hotels in Savannah, Georgia. The hotels are the 162-room Hampton Inn & Suites National Landing and the 248-room Hilton Garden Inn National Landing. The neighborhoods of Crystal City, Pentagon City and Potomac Yard comprise the National Landing development, which includes of offices, residential, dining, retail, parks, bike paths, and walking trails. "National Landing is home to more than seventeen million square feet of office, a highly skilled workforce of more than 50,000 people, and an affluent residential population. Virginia's largest walkable downtown, National Landing, further benefits from billions of dollars in private and public investments," Noble said in a press release. "Most notably are the $2.5 billion Amazon HQ2 under development, which will create 25,000 new jobs in National Landing, and Virginia Tech's Innovation Campus, which is expected to drive a new era of technology for the greater Washington D.C. area."

NAVIKA GROUP OF Companies and Blue Sky Hospitality Solutions have acquired the Andaz Wall Street hotel, now known as the Hyatt Centric Wall Street New York. The 253-room hotel's guestrooms and lobby were recently redesigned, but Navika plans to invest approximately $5 million in the property over the next several years. Real estate company Navika Group and Blue Sky management company both are led by Naveen Shah as president and CEO. Also, Haridas Kotahwala is chairman at Navika Group. The Hyatt Centric Wall Street is expected to reopen Jan. 26, according to Blue Sky. "The competitive advantages provided by Hyatt Centric Wall Street New York, our first hotel in New York City, make it an ideal addition to our current portfolio of 53 owned and operated hotels throughout the U.S.," said Ernie Catanzaro, executive vice president with oversight of the management team, BSHS. "The hotel has some of the larger rooms in New York City, ranging in size from 345 to 1,500 square feet, as well as an unmatchable location and address. Our planned multimillion-dollar renovation will reinforce the hotel among the most desirable locations in New York City."

REVPAR FOR U.S. hotels recovered to 83.2 percent of 2019 levels in 2021, according to STR. Also, in December 2021, ADR and RevPAR hit all-time highs. U.S. hotel occupancy in 2021 was 57.6 percent, down 12.6 percent when compared to 2019. ADR for the year was $124.67, down just 4.8 percent from 2019. RevPAR at $71.87, down 16.8 percent when compared to two years ago. "In addition to 2020, U.S. hotel occupancy failed to reach 60 percent for just the second time since 2011," STR said. "On a nominal basis, 2021 ADR was the fourth highest on record. The country's RevPAR level was its second lowest in eight years behind only 2020." According to the report, none of the top 25 markets experienced an occupancy increase last year over 2019. Tampa reported the highest occupancy at 68.4 percent, down 5.2 percent from 2019. The largest ADR increase in 2021 was in Miami, up 14.7 percent to $223.49, compared to 2019. Norfolk/Virginia Beach registered the highest growth in RevPAR, up 7.7 percent to $72.31.

NEWCRESTIMAGE HAS COMPLETED its sale of 27 hotels to Summit Hotel Properties it first announced in November. The Dallas-based company, led by Mehul Patel as managing partner and CEO, also contracted with Aimbridge Hospitality to manage the hotels and will become a minority shareholder in the management company. The initial closing includes 26 existing hotels with 3,533 guestrooms, with final closing on the currently under construction 176-room Canopy by Hilton New Orleans expected to be completed in the first quarter, according to the company. It also includes two parking structures. The transaction costs $776.5 million for the hotels, or $209,000 per key. It also includes $24.8 million for the two parking structures and $20.7 million for the various financial incentives through Summit's joint venture with Singapore-based sovereign wealth fund GIC, made in 2019 to acquire hotels in the U.S.

The Hyatt House In Beaverton, Oregon, is now open. It is a joint venture developed by NewcrestImage led by Mehul Patel as chairman and CEO and Canterbury Hotel Group led by Arvind Patel as CEO. The 125-room, 5-floor extended-stay Hyatt House by NewcrestImage is near Beaverton's city hall, the 550-seat Patricia Reser Center for the Arts, the Tualatin Valley and Cooper Mountain Nature Park. Also close are corporate headquarters for Nike, Reser's Fine Foods and optics manufacturer Leupold & Stevens. Hotel amenities include a 635-sq. ft. meeting room, two indoor lounges and an outdoor patio and BBQ area. It is the first joint venture by NewcrestImage and Canterbury Hotel Group. "The opening of this Hyatt House is powerful testimony that hoteliers continue to provide the best of hotel experiences even during challenging travel times," Mehul said. "We've created a property that is safe, comfortable, and special - where travelers can rest easy after a tough day on the road."

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.

OCCUPANCY AND ADR in U.S. hotels will continue to grow in 2022, with a year-over-year rebound in RevPAR of 14.4 percent, around 93 percent of pre-pandemic levels, according to PwC. Meanwhile, ADR in the third and fourth quarter of 2022 is expected to surpass comparable 2019 levels. The near-term outlook for the U.S. lodging sector by PwC, titled U.S. Hospitality Directions: November 2021 has said that the vast majority of temporarily-closed hotels will have reopened and demand growth, particularly from individual business travelers and groups, will improve if infection rates continue to drop in 2022. According to PwC report, continued demand recovery will result in an occupancy of 61.7 percent next year and ADR will see an increase of 5.9 percent. The consultancy firm anticipates RevPAR up by 14.4 percent in 2022.