From a real ADR perspective, hotels are trending downward and remain below the inflation-adjusted 2019 numbers
Jun 26, 2024
U.S. hotel performance data improved in May, but still lags behind inflation. May saw the highest monthly growth in revenue per available room since March 2023, up 4% after a 1.9% increase in April. The average daily rate also rose 2.4% in May, in line with STR’s latest forecast from early June.
Key takeaways
- Downtown locations are currently thriving, and this trend is expected to continue into the summer with increased leisure demand and hopefully into the fall, which is a key meeting season;
- Outbound travel from the U.S. increased 11% year-over-year in May, maintaining a strong pace despite concerns of a potential plateau;
- However, inbound travel to the U.S. remains below 2019 levels, which continues to be a challenge for hotels.
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