- The US hotel industry experienced a fourth consecutive week of RevPAR (revenue per available room) growth, driven by factors such as travel compression, events, and recovery efforts from hurricanes.
- Globally, excluding the US, RevPAR continued to see double-digit growth for the second consecutive week, led by Italy with a 29.7% increase.
The US hotel industry has been experiencing healthy growth for the fourth consecutive week, with revenue per available room (RevPAR) up by 3.1%. Factors like the shift of Halloween and corporate travel ahead of the US elections compressed travel for business into the start of the week.
Southern states led the performance, with more than two-thirds of the week’s demand increase coming from these areas, particularly those affected by Hurricanes Helene and Milton. Other factors driving demand included the Florida/Georgia football game, the International Boat Show, and the final performance of Taylor Swift’s Eras Tour.
The Northeast and Midwest also saw increased demand. New York City continued to lead the nation in occupancy for the fourth consecutive week, with a RevPAR increase of 20.7%. Football games and a convention calendar shift resulted in RevPAR performance boosts in smaller markets within these regions. However, the West region saw demand declines due to soft weeks in Las Vegas and San Francisco.
On a global scale, excluding the US, RevPAR advanced 12.1%, marking the second consecutive week of double-digit growth. Italy led the top countries in RevPAR growth at 29.7%, with Spain, Indonesia, Japan, and Mexico also posting double-digit RevPAR growth. While room demand in China rose for the third consecutive week, a decline in ADR resulted in a retreat in RevPAR.
The final shows of Taylor Swift’s Eras tour are expected to give Canada a boost in Toronto and Vancouver. The continuation of China’s demand growth remains to be seen, particularly if it is joined by ADR, which has fallen in nearly every week this year.
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